Small business, big world A law to keep the little guy competitive BY JOHN GOLDEN

Small business, big world
A law to keep the little guy competitive
BY JOHN GOLDEN

Legislation that would give small businesses more federally backed clout and more working capital in export trade was approved by the U.S. House of Representatives this month and passed on to the Senate. The bill was sponsored by a small-business owner from the lower Hudson Valley, freshman Rep. John Hall, D-19th District.

“The small businesses in New York’s Hudson Valley are the engine that drives our economy,” Hall, a former rock musician and owner of a small music-recording studio, said in a prepared statement following the House’s voice vote on his Small Business Administration Trade Programs Act of 2007. “In our increasingly shrinking world, it’s becoming more important than ever that our small businesses can compete successfully in the global economy, and that’s what my bill tries to help them do.”

More than 67,000 small businesses make up about 97 percent of all companies operating in the Hudson Valley. Many rely on intellectual property to drive their business success, Hall noted.

The bill directs the Office of International Trade (OIT) of the Small Business Administration (SBA) to assist in developing and implementing trade policies, including the removal of trade barriers, to give small businesses more opportunities in international markets. It instructs the OIT director to encourage international and small exporter organizations and foreign governments to support and publicize programs that boost exports for American entrepreneurs.

The bill also instructs the OIT director to develop a small-business strategy as part of the U.S. Department of Commerce’s national export strategy. That should include a specific strategy to increase small business exports to the Asia Pacific region. The plan also will include recommendations to make small-business industries more competitive in the global economy and to protect small businesses from intellectual property violations and other unfair trade practices.

The bill requires the OIT to design counseling services and identify legal resources for small businesses to protect their intellectual property in foreign countries.

“Intellectual property remains one of our country’s most important exports,” said Hall. “This bill makes sure that our American small businesses will have the resources to defend their intellectual property rights worldwide.”

The legislation provides small businesses with technical assistance and counseling in trade-remedy investigations and dispute cases, two places where small businesses have long been at a disadvantage. Hall’s bill also calls on the OIT to design comprehensive services to help small businesses adjust to global climate conditions.

The bill also would require the SBA to increase its marketing of international trade loans for businesses impacted by increased competition with foreign firms in their market or unfair trade practices, especially intellectual property violations. Small-sized and medium-sized exporters also would have access to increased loans and federal loan guarantees.

The House measure has been referred to the Senate Committee on Small Business and Entrepreneurship.

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