San Diego Business Ass’n
Signs MOU With SBA
Good news for small business owners: As the number of exports expand, so do the number of small and mid-sized business owners who benefit from it.
A federal study released May 2 shows more than 202,000 small and medium-sized businesses in 1997 exported goods to countries around the world , a figure nearly double the 112,854 companies exporting goods in 1992.
Conducted by the nonpartisan U.S. General Accounting Office, the study also found companies with less than 500 employees accounted for 97 percent of all U.S. exporters in 1997 , the most recent year data is available on exported goods.
That, in turn, has helped small businesses expand. In the past decade, small businesses have created 75 percent of all net new jobs, the report said.
The news came on the eve of hearings by the Ways and Means Committee on China’s entry into the World Trade Organization and extending permanent trade relations to China. The House of Representatives may consider granting permanent normal trade relations to China the week of May 22 , a move that could further open China’s markets to U.S. businesses and farmers.
“This study shows that it’s not just Wall Street that will benefit from trade with China, but the Main Street, mom-and-pop stores as well. For hundreds of thousands of these businesses, expanded trade has meant more and better jobs for their employees,” said Chairman Bill Archer, R-Texas. “Expanding trade with China will open international markets even more to these diesel engines of our nation’s economy.”
According to the GAO study, exports by small and medium-sized firms account for one-third of the total value of exported U.S. goods. In 1997, these businesses exported goods valued at $172 billion and accounted for 31 percent of total U.S. exports. In 1987, small and medium-sized firms exported $42 billion in goods, or 26 percent of all U.S. exports that year.
By value, U.S. goods exports rose from $251 billion in 1987 to $689 billion in 1997. U.S. goods exports increased from 5 percent of gross domestic product in 1987 to 8 percent of GDP in 1997. Similarly, U.S. service exports rose from $99 billion in 1987 to $258 billion in 1997.
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‘Historic’ Event: The Greater San Diego Business Association and the U.S. Small Business Association signed a memorandum of understanding May 10 that will increase the number and dollar amount of guaranteed loans for GSDBA members.
GSDBA, San Diego’s gay and lesbian-supportive chamber of commerce, is the second such organization in the nation to gain recognition from the SBA, according to Michael Lamb, GSDBA spokesman.
“This is a historic event for our local chamber,” said Bryan Garrity, GSDBA president. “It has taken many years, countless volunteers and a lot of hard work for the GSDBA to be recognized at this level.”
GSDBA members will now have preferential access to many SBA programs, including more loans to GSDBA members, financial seminars targeted to the community, training programs on how to finance small businesses, and increased international trade opportunities, Garrity said.
Garrity urged members to take advantage of the opportunities afforded by the memorandum of understanding. He also noted that the increased participation of gay and lesbian business owners in the SBA would serve as an inspiration for other gay and lesbian chambers throughout the country.
New Stores: Westfield Shoppingtown Mission Valley is marking spring with the announcement of several new retail stores and restaurants, as well as the remodeling of existing tenants. The improvements can be seen at both the main Mission Valley location as well as Mission Valley West, across Mission Center Road.
New additions in Mission Valley include Ann Taylor Loft and Things Remembered, while later this year will see the opening of Papaya Clothing and O-Nami, an all-you-can-eat sushi buffet restaurant.
Over at Mission Valley West, Fitness Warehouse opened earlier this year, and King’s Fish House will open later this fall.
Send small business and retail news to Lee Zion at lzion@sdbj.com.
