Congress Attempting to Encourage More Small Business Export Financing

In an effort to improve the small business foreign country export options, Congress is acting for the second time in four years to foster changes in the Export-Import Bank of the United States finance operations. A bill recently passed by the House and in consideration by the Senate, seeks to create a new small-business division within the Bank entity.

The new division would have the power to approve business loans as well as provide insurance packages of up to $10 million for businesses seeking assistance. The primary function of the Export-Import Bank is to give American companies some assistance as they seek to compete with foreign exporters, some that are extensively subsidized.

With reports that every $1 billion in exports equates to about 14,000 domestic jobs, it is easy to see why the government should actively get involved in helping small businesses compete. The new division will attempt to ensure that small American companies will be able to do just that, compete globally and do so even in those places where business operations can be a very risky, perhaps even dangerous venture.

For more on the changes at Ex-Im Bank, see:

http://www.mercurynews.com/mld/mercurynews/
news/breaking_news/15489184.htm

Avoiding Financial Failure With Your Small Business

There are many trouble spots in beginning a new business. Management, marketing and planning are all critical to getting your enterprise off to a successful start.

However, to be truly successful as a small business owner, you must have a firm grasp of various financial concepts. Among the many monetary aspects to consider are the initial start-up capital to get your business off the ground and the subsequent working capital that will be necessary to give the business a strong foundation and a realistic chance for future success.

To learn more about the nuances of developing an appropriate financial plan for capital expenditures as well as possible options for raising all or part of the initial capital necessary, see:

http://www.americanchronicle.com/articles/viewArticle.asp?articleID=13114