Small Business Exporters and Resources Available to Help Highlighted

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New Hampshire District Office - June 24, 2022 

u s small business administration

SBA Office of International Trade (OIT) Associate Administrator Highlights Exporting Opportunities Available to NH Businesses

Group photo at GSSI in Nashua with OIT Gabriel Esparza

Nashua, NH – On Wednesday, June 22, 2022 Office of International Trade Associate Administrator Gabriel Esparza of the U.S. Small Business Administration (SBA) visited Nashua, New Hampshire to highlight international trade funding and programs available to New Hampshire small businesses. 

SBA representatives Mike Vlacich, SBA New England Regional Administrator and Amy Bassett, SBA New Hampshire District Director joined Mr. Esparza to tour small business exporter Geophysical Survey Systems Inc (GSSI) and held a round table discussion with other small business exporters, focused on the benefits and challenges of international trade. 

“Selling abroad is crucial to small business resiliency. Time and again, we have seen those small businesses selling abroad tend to make more sales, employ more people, and grow at higher rates. SBA programs and services, such as counseling, grants and financing, help support U.S. small business exports,” said Mr. Esparza, SBA Associate Administrator for the Office of International Trade. “Additionally, diversity contributes greatly to entrepreneurial success. The SBA is focused on reaching underserved communities and helping them utilize exporting as a strategy that leads to economic recovery and greater resilience.”

During the visit, GSSI demonstrated their Ground Penetrating Radar (GPR) and Electromagnetic technology. GSSI designs and builds state-of-the-art GPR tools that are used daily around the world. From checking, the structural health of roads, bridges, and skyscrapers to studying the thickness of glaciers, their equipment is utilized by professionals on all seven continents. GSSI used SBA’s State Trade Expansion Program (STEP) to help grow their sales internationally.

The STEP grant program has helped thousands of small businesses obtain grants and find customers in the international marketplace since 2011. Through awards to U.S. states and territories, STEP helps small businesses overcome obstacles to exporting by providing grants to cover costs associated with entering and expanding into international markets.  STEP grants can be used to:  participate in foreign trade missions and trade shows; obtain services to support foreign market entry; develop websites to attract foreign buyers; and design international marketing products or campaigns.

STEP is just one of the programs SBA has available for businesses engaged in international trade including SBA’s export finance programs.  Many U.S. bank’s view loans for exporters as risky, which can make it harder for businesses to get loans for things like day-to-day operations, advance orders with suppliers, and refinancing existing debts. SBA’s Export Finance programs eliminate some of the risk by providing lenders with up to a 90% guaranty on export loans.

U.S. exports are important to the nation’s economy, and 97 percent of all exporters are small businesses. During fiscal year 2021, the SBA guaranteed $856 million in financing to small business exporters which supported over $3 billion in export sales. 

For more information about SBA’s export programs go to:  www.sba.gov/internationaltrade.


What others are doing to Help #SmallBiz

UNH Center for Business Analytics 

The UNH Center for Business Analytics works with the NH SBDC to support small businesses who are looking to solve an analytics-related business problem, or who simply want to become more proactive when it comes to using their own data. Together, the NH SBDC and the Center for Business Analytics are focused on supporting small businesses by providing resources that will help them grow and become more competitive. Read more here.


FAME Program has Expanded to Include Legal Assistance- NH SBDC

FAME connects SBDC clients with Financial and Marketing consultant partners and NOWSBDC clients are now eligible for up to 5 hours of legal assistance with attorney consultants all at no cost in the areas of:

Startup/entity formation consult/work

  • Commercial contracts drafting or review:
  • Corporate governance documents:
  • Trademark application analysis and filing of initial application
  • Review of commercial loan documents
  • Review of commercial lease documents
  • Preliminary planning for private offerings/angel financing (up to drafting of term sheet)
  • Preliminary planning for buying or selling a business (up to drafting of term sheet or letter of intent)

Almost 200 businesses have participated in FAME - you can, too! If you are a client, connect with your advisor. If you are not yet an SBDC client, Request Advising, meet with your SBDC business advisor, and ask them about the FAME program. Now is the time. Learn more here

Contact your advisor by August 15th!


NH Tech Alliance's Cybersecurity Review Program

Small and medium sized businesses are at high risk for a cyber attack and many have few or no precautions in place.

We are offering businesses with up to 500 employees a free cybersecurity review with a cybersecurity expert. The review will provide you with clear, easy to follow steps to start protecting your business and will answer any questions or concerns you have.

We have partnered with the NH SBDC on this program and applications will close on 8/15.  

You can find more information on the program on this website

 


USDOL Wage and Hour

YOUTH SAFETY AT SUMMER JOBS 

The Wage and Hour Division’s YouthRules! initiative promotes positive and safe work experiences for teens by providing information about protections for young workers to youth, parents, employers, and educators. Through the YouthRules! initiative, the U.S. Department of Labor and its partners promote positive and safe work experiences that help prepare young workers in the 21st-century workforce.

From the YouthRules! website you can quickly access information about federal and state labor laws that apply to young workers. The website educates teens on the rules, and provides information for parents, educators, and employers.

For more information about the Wage and Hour Division, contact our toll-free helpline at 866-4US-WAGE (487-9243).

 


September 21st and 22nd

Monadnock Region

Radically Rural builds powerful networks of passionate, engaged, innovative people willing to share ideas and resources and take action to strengthen their rural communities across the country.

Mark you calendar to attend Radically Rural, a summit that connects, educates, and inspires people who care about building a bright future in rural America. 

 2022 Radically Rural summit schedule 

 



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Ways to Connect with SBA New Hampshire:

Websitewww.sba.gov/nh
EmailNewHampshire_DO@sba.gov
Twitter@SBA_NH

Phone: 603-225-1400

 

Download the June Events and Happenings

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