Economic Agenda: Exports
Small Business Majority has created an economic blueprint for lawmakers and government leaders that will strengthen our economy, create jobs and solidify its base, small businesses. The recommendations range from action on access to capital, taxes, healthcare, infrastructure, freelance economy, minimum wage, workforce training, immigration, clean energy and exports, and are all tied to creating economic opportunities for small businesses and entrepreneurs.
Small and medium-sized firms account for 98% of all U.S. exporters, but represent less than one-third of the known value of exports of U.S. goods, according to the U.S. International Trade Administration. Foreign markets represent a significant growth opportunity for many U.S. small businesses and they must have the tools and resources needed to take advantage of this potential. We must ensure small businesses have the opportunity to compete in the global market by:
- Long-term reauthorization of the Export-Import Bank, recognizing that nearly 90% of its transactions in 2014 were to support small businesses.
- Ensuring that small businesses in every state can access resources to help them export by reauthorizing the State Trade and Export Promotion (STEP) program and by continuing to strengthen export counseling through locally- and regionally-based organizations.