Jobs Bill Promotes Small Exporters
Washington, D.C. — The Small Business Exporters Association (SBEA) applauds Congress and the administration for enacting into law today the momentous Small Business Jobs Act of 2010. In addition to the myriad access to capital provisions, tax benefits and critical language to make health insurance more affordable for the self-employed, the new law also includes several provisions that will enhance exporting opportunities for small businesses.
“Given lackluster job growth, low consumer spending and no evidence on Main Street of any economic recovery, exporting continues to be one of the few bright spots for America’s small businesses,” stated SBEA Board Chair Susan Corrales-Diaz, president of California-based Systems Integrated. “The exporting provisions in this bill will help take small-business exporting to the next level.”
Among the many broad benefits in the Small Business Jobs Act for small business, the new law will: provide funding for the U.S. Trade Representative’s (USTR) market access and trade enforcement activities; elevate the Office of International Trade within the U.S. Small Business Administration (SBA); add Export Finance Specialists to the SBA’s trade counseling programs; establish the State Export Promotion Grant Program; improve coordination between federal and state agencies and SBA resource partners; and leverage more than $1 billion in export capitol for small businesses.
Thanks, in large part, to the efforts of Senate Committee on Small Business and Entrepreneurship Chair Mary Landrieu (D-La.) and Ranking member Olympia Snowe (R-Maine), several key export promotion provisions were included as part of the Small Business Jobs Act. For 20 years, SBEA—the international trade arm of the National Small Business Association (NSBA)—has been working hard to improve access to export capital, enhance counseling programs and raise awareness of small exporters.
“Small business comprises 97.5 percent of all exporters, yet small-business exports represent less than five percent of the GDP,” stated NSBA President Todd McCracken. “I am hopeful that this legislation will begin to narrow that gap.”
SBEA is the nation’s only nonprofit association exclusively representing small and mid-sized U.S. companies in international trade. The association has served as the international trade council for the National Small Business Association since 2002. For more information, please visit NSBA and SBEA.