Posts by Rick Newman

  • Why Uncle Sam wants to be your business partner

    Rick Newman at Yahoo Finance13 days ago

    Just about every business owner would love to export more—but it’s hard knowing where to start. Big multinationals have operatives in many countries and consultants to fill the void where they don’t, but smaller firms often lack the resources or know-how needed to penetrate foreign markets.

    Uncle Sam wants to help. Seriously. “Remember, 95% of customers are outside the United States,” Commerce Secretary Penny Pritzker tells me in the video above. “The United States is a wonderful market, but today companies need to be thinking globally right from the get-go.”

    In 2010, President Obama pledged to double U.S. exports by 2015. Exports have risen from $1.6 trillion in 2009 (the base year for Obama’s pledge) to an estimated $2.4 trillion this year. That’s a 50% increase, which has raised the total number of jobs supported by exports to more than 11 million, according to new Commerce Dept. research. That’s about 8% of the U.S. labor force.

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