Cross-posted from the Department of Commerce blog:
Yesterday, President Obama announced new commitments in the “Made in Rural America” export and investment initiative, which is charged with bringing together federal trade-related resources for rural communities and businesses. This announcement reflects the Administration’s strategy for ensuring workers and businesses of all sizes, from communities large and small, benefit from the nation’s economic resurgence.
The Department of Commerce also released data yesterday that show 26 states set new export records in 2014, and many of those states are in the nation’s heartland. Read more »
A sampling of foods produced for sale by Native American businesses. USDA photo by John Lowery.
During the National Congress of American Indians (NCAI) 71st Annual Marketplace & Convention, I had the privilege to host “Made in Native America: A Workshop on Native Business Exporting”. In this seminar, Tribal leaders and Native business owners came together to discuss the benefits and challenges of moving Native-made/Native-harvested products abroad.
“I believe as we start growing and working together, we’ll never have the poverty that we’ve seen in Indian Country,” says Karlene Hunter, CEO of Native American Natural Foods, during the workshop’s first panel. She continued by remarking, “You need to know your market. You need to know your capacity.” Read more »
Cross posted from the White House Blog:
This week is National Small Business Week. The U.S. Small Business Administration (SBA), along with agencies across the Obama Administration, are hosting events in five cities. These events provide expert advice, mentoring and explore topics ranging from access to capital to exporting. Small businesses across the country can tune into these events via livestream at sba.gov.
America’s small businesses create two out of three net new private sector jobs in our economy. And today more than half of all working Americans either own or work for a small business. Our goal is to ensure that the positive economic benefits of entrepreneurship can reach every corner of the country. Read more »
In rural America, the local community drives the rural economy. Main Street businesses are critical to economic growth. USDA is pleased to join with the Small Business Administration to recognize and honor America’s small businesses this week, during National Small Business Week.
In rural America, the local community drives the rural economy. Main Street businesses are critical to economic growth. Money spent and invested locally rolls through a community and generates even more economic benefits.
That’s why rural small businesses are critical to strong rural communities. And it’s why USDA is pleased to join with the Small Business Administration to recognize and honor America’s small businesses this week, during National Small Business Week. Read more »
Stakeholders meet with USDA staff in New York recently to discuss ways to use Rural Development programs to help small businesses create jobs and grow businesses. USDA photo.
Last month, USDA Rural Development’s Delaware – Maryland State Office and the State Office staff in New York hosted roundtable discussions on Revolving Loan Fund (RLF) availability. RLF programs are unique programs that provide funds to local and regional organizations to capitalize and operate revolving loan funds. Revolving loan funds are used to assist with business financing and economic development activities to create and/or retain jobs in disadvantaged and remote communities. As such, these are programs that have great potential for meeting USDA’s rural economic mandate in a time of scarce federal funding. Read more »
Last week, Molly Lambert, State Director of the Vermont Rural Development State Office, (RD) joined me in hosting the state’s first “Intermediary Relending Program and Creative Financing Roundtable.” Meeting participants, including leaders from Vermont’s economic and community development centers, met at the Vermont Economic Development Authority office located in Montpelier, Vermont.
The purpose of the meeting was to explore ways to promote the distribution of more than $5 million in funds to Vermont’s rural small business entrepreneurs using the U.S. Department of Agriculture’s (USDA) Intermediary Relending Program (IRP). These enthusiastic participants, who have keen insight into the state’s industries and barriers to capital, learned that working collaboratively will benefit all Vermont communities.
During the opening part of the meeting, staff from the Vermont USDA State Office gave the state’s Intermediary Relending providers updates on the administration of IRP loans. The session then moved to a discussion of trends, observations, and economic opportunities for the small businesses in their respective areas. Read more »