WBE.Net Newsletter
Release Date: 2-7-08
Canada Can-Do:
Our Biggest Trading Partner
The relationship
between the United States and Canada is huge - probably the closest and most extensive in the world. It is reflected
in the staggering volume
of trade between the two
countries. The US and Canada trade one-and-a-half billion dollars worth of business every
day in goods. In fact, Canada is a larger market for US
goods than all 27 countries of the entire European Community combined. Of the billions of dollars in American
exports to Canada, the following product categories have the highest
values: vehicle parts and accessories,
passenger cars, trucks and buses,
industrial machines, plastics, electrical parts, computer accessories,
industrial engines, and iron and steel products. Fastest-growing
US exports to Canada are copper, gold, and natural gas. People-to-people
contact is also fantastic: about 300,000 people cross the two countries' shared
border every day. As you consider
potential partners for your export activities, Canada definitely should be
top-of-mind!
New Package
Brings Incentives To Entrepreneurs
Congress is moving to finish
up the $150-Billion Economic Recovery Package designed to place a check worth
several hundred dollars into your mailbox.
And there is good news for America's small
businesses. Previously, any
home mortgage of $417,000 or more was considered a "jumbo" loan,
carrying a higher interest rate than so-called regular loans. Under the new plan,
the "jumbo" limit for loans sponsored by Fannie Mae and Freddie Mac
would go from $417,000 up to $700,000, making it easier for small
business-people to get bigger loans more cheaply. This new, higher limit for "conforming" loans should
help entrepreneurs who face cash flow problems
more easily raise money by taking out lower-interest commercial loans
guaranteed by their homes. The US
Small Business Administration sums it up this way: If more Americans reset their mortgages
as "non-jumbo," they can refinance at a lower rate, and then
go out and spend more, turning their new disposable income into a boost to
America's economy! Also planned in the rebate package is a proposal to allow
small businesses to deduct taxes on $250,000 in business expenses...almost doubling the present business-expense deduction limit
of $150,000.
Getting Your
Ducks All Lined Up In 2008
The secret to
export success for this still-New Year is to put together a carefully
researched Export Plan. This
will give you direction as you embark on your journey into foreign
markets. An Export Plan helps
you to act - instead of react - to the challenges you may encounter in
international business. And, in
addition to helping you work your export strategy, it can help you get
financial assistance, investors or other important partners you may choose, as
you seek to make your export venture a success. Your Export Plan should include an
analysis of your target market or industry, your
objectives, current trends and forecasts, a look at your competitors and their strengths
and weaknesses in contrast to your own, and how to develop sales and
distribution channels.
WBE.Net Points
You To Another Useful Resource!
Here is a
resource which TheWBE.Net's
partners among America's trade authorities hope
will give you the latest information on our country's Free Trade
Agreements. It's a joint effort between the Departments of Agriculture,
Commerce, State, Treasury and the Office of the United States Trade
Representative, whose purpose
is to bring you facts about which countries are best to export to, from the
standpoint of not having to pay expensive fees to move goods across their
borders. This site carries developing
news about existing Free Trade Agreements, and also covers the new Free Trade
Agreements that are being worked out with South Korea, Peru, Colombia, and Panama. You can access this resource by clicking to www.tradeagreements.gov.
