The program is called Global Access for Small Business. The aim is to create financial tools to make it easier for small companies to sell goods and services abroad.
“We are not going to grow the economy unless we grow export sales. There is no way we can reboot this economy and make it sustainable, with good jobs, and a really durable economy without export sales. And we’re not going to be able to grow our exports without small business playing a part, a role in it.”
That’s Fred Hochberg, chairman and CEO of the Export-Import Bank of the U.S., the lead agency for the program. He singles out new oil discoveries off the coasts of Brazil, Colombia and Africa as export opportunities for small businesses.
“There are many service companies in the Houston area that can provide the services and the products for those exports. I want to make sure as those oil fields and everything else are being developed, as an example, that American companies are there helping do that and creating jobs here at home.”
President Obama’s goal of doubling U.S. exports by 2014 remains a steep climb. The latest trade numbers show exports grew by seventeen percent from January to November 2010, compared to the same period a year earlier.