Blog June 2012

For minority business owners interested in exporting their goods and services and eager to make contacts with markets overseas, but unable to travel, reverse trade missions provide unique opportunities to foster business relationships and build long-lasting partnerships between U.S. businesses and our overseas partners.

When Muhammad Ali, the legendary world heavyweight boxing champion, was asked by reporters why he kept boasting about being the greatest in the ring, he used to say, “It isn’t bragging if you can back it up.”

The MBDA FY2011 Annual Performance Report (APR) backs up what we’ve been saying about MBDA’s achievements under President Obama. In 2011, we registered the best performance in our 43-year history. It was our third record-breaking year in a row.

With an economy that’s struggling, every small business owner is looking for ways to increase profits, save money and improve efficiency.

The good news is there are plenty of ideas that you can find in books and articles. But rather than cover the obvious ones, in today’s tough economy you need new and creative ways to save.

Consider the following ten cost-saving ideas for your small business:

1. Go paperless
   You can lower storage costs, printing costs and improve overall efficiency by running a paperless office. By scanning documents you can send and share information effortlessly saving your business time and money.

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Summer’s here and for most communities, that means the season of outdoor fairs, festivals and other events is underway. For a small business, community events like these can be a great opportunity to market your products and services to local residents and other event-goers. Here are some steps to get you started.

Research what events exist in your community and nearby communities. Your options might range from local “fun runs,” chili cook-offs or classic car shows to surfing contests or music festivals that bring in attendees from all over the country. If you’re new to event marketing, you’ll probably want to start at the smaller end of the spectrum.

While growth in the travel and tourism business is still in recovery mode, the early warm temperatures across most of the U.S. coupled with an uptick in positivity over the future of the economy could make 2012 a good year for the U.S. tourist industry and the small businesses that support it.

Commerce Secretary John Bryson and Interior Secretary Ken Salazar announced the Administration’s National Tourism and Travel Strategy [PDF] – delivering on President Obama’s call in January for a national strategy to promote domestic and international travel opportunities throughout the United States.

The National Strategy is a blueprint for expanding travel to and within the U.S., laying out concrete steps to be taken in five key areas.  It sets out a goal of increasing American jobs by attracting and welcoming 100 million international visitors annually by the end of 2021, more than a 50 percent increase over the number expected this year. These international visitors would spend an estimated $250 billion per year, creating jobs and spurring economic growth in communities across the country.  Learn more about the strategy here.

So, how can small business owners put the 2012 tourist and vacation season to profitable use? Here are some operational and marketing tips to help you start planning a successful season today.