Recently in the Economy Category

President Barak Obama announced a new plan that would reform the way government agancies work for small businesses and announced a move to elevate the position of SBA Administrator to a cabinet-level position. The plan will consolidate the various departments focused on business, commerce and trade to a single, streamlined department.

WIPP strongly supports this effort and released a statement applauding the President's plan.

This reform should help make the government work better for small businesses by consolidating the efforts fo such agencies as the Small Business Administration (SBA), the Commerce Department, the Office of the US Trade Representative, the Export-Import Bank, the Overseas Private Investment Corp. and the Trade and Development Agency into a one-stop shop for business needs.

The plan, which will require Congressional approval, also aims to rpovide a more accessable, more efficient resource for small business owners. SBA Administrator Karen Mills pointed out that the small business arm of this consolidated department would provide a greater range of programs and opportunites for small businesses and assured that small business interests would be at the core of this new department. WIPP has strongly advocated on behalf of its members for reduced regualtions and simplified resources for small business owners and fully supports this major step in that direction.

WIPP also applauds the Presidents' related move to elevate the position of SBA Administrator to a cabinet-level position. WIPP is pleased to see the President's recognition of the vital role that small businesses play in growing jobs and growing the economy and looks forward to seeing the additional progress that the elevation of the SBA can bring to the small business community. With this move, small businesses will have a stronger voice to advocate for change on the policies and issues that affect them. During this time of economic recovery, it is more important than ever that small business has a seat at the policy-making table.

Women Impacting Public Policy (WIPP) was honored to recently receive an invitation from Rosie Rios, Treasurer of the United States, to a special symposium on Women in Finance. The symposium, which took place on July 12th, was hosted by the Department of Treasury and focused on the institutional investment space and the leadership role that women are playing with pension funds, foundations and endowments. Nicolina A. Stewart, CPA, PFS, President of CMA, Inc. and Grant-Wise, Inc. and Vice-President/Treasurer of the WIPP Board of Directors, attended on WIPP's behalf.
 
The purpose of this Symposium was to recognize the new phenomenon of female investment executives, connect their new roles to the story of the financial recovery, and inspire women who may consider finance as a future career. Below, Nikki Stewart shares her thoughts on the symposium:
 
"It was truly an honor to attend the Women in Finance Symposium hosted by the Department of Treasury.  In addition to the incredible women who were involved in the 3 highlighted panels, the women who attended the Symposium from across the country were also able to interact with each other and we discussed our respective businesses, our various outside activities and Board appointments,  and our own opinions of the importance of women in finance and what we think the future holds for those of us in this industry.
 
To be able to have such so many intelligent, powerful women together in one room and hear frank opinions about asset allocation, trends in economic sector focuses and how setting policy affects these decisions was an amazing experience and I hope I have the opportunity to attend others when they are held in the future."
 
Women in senior positions at domestic public pension funds, corporate pension funds, foundations, and endowments manage well over $2 trillion worth of assets in the U.S., according to research from the Council of Institutional Investors. Many of these appointments have occurred in the last few years and have not been widely publicized, much less recognized. The leadership role that these women play is crucial to America's economic recovery.
 

I'm excited to announce WIPP's new partnership with KeyBank's Key4Women program. Key4Women will be partnering with WIPP's Women Accessing Capital program to help women-owned businesses better understand the process of obtaining financing. Together, these programs will seek to inform women about legislation directly impacting their businesses and provide financial education associated with acquiring funding, a combination that aims to support women in business with the resources essential to business growth.

In conjunction with WIPP's goal to make securing capital an easier and more transparent process, Key4Women will host webinars and local seminars on topics such fraud prevention, courage and leadership, SBA loans, venture capital and angel investing, and capital expenditures. Also, WIPP will connect our Instant Impact leaders across the country with Key4Women's programming and vice versa so that members of both organizations can benefit from the resources, information and connections being shared.

Key4Women was founded by Maria Coyne, Executive Vice President of the Business Banking segment at KeyBank. Maria offers financial advice for women in her monthly blog, Maria on Money, and is responsible for KeyBank's SBA program.

Guest Blog By: Julie Reiser, President/Co-Founder of Made in the USA Certified, Inc

President Obama held a town hall meeting at Gamesa Technology Corporation, Inc. in Fairless Hills, Pennsylvania on Wednesday, April 6th. President Obama spoke about wanting to make America more competitive when it comes to energy. He was quoted all over the press saying, "I want it made right here in the U.S.A."

I think it is fantastic that President Obama is promoting alternative energy sources, reducing our dependence on foreign oil and developing clean energy. I am big proponent of developing alternative sources of energy and I do believe this is an area the United States needs to devote time, innovation and money towards.

In order for us to be the leaders in innovation we need to be making things, innovating, creating, and doing it domestically so the knowledge and the intellectual property and stays here. For decades we have handed over this knowledge and innovation to other countries - only to be copied, and then underpriced out of our own game.

Yesterday I got an email from one of our clients, Aeronautica Windpower. Aeronautica Windpower is located in Plymouth, Massachusetts and is 100% American owned and operated.  They also are the first and only American wind turbine company to become Made in USA Certified. The e-mail said:

"Aeronautica Windpower, LLC, is pleased to announce that Cape Verde Wind has chosen our 47-750kW Wind Turbine Generators for high penetration, hybrid wind/diesel applications to supply clean, efficient, and reliable power to the people of Cape Verde.  The initial purchase order of 15 units will provide 11.2 megawatts of power for this $22 million project, with more planned for installation in 2012 and 2013.Aeronautica Windpower is America's Wind Turbine Company, providing our excellent wind turbines for North America, and we're honored to be the supplier of wind power to Cape Verde."

I leapt for joy!

As clients these folks, these amazing entrepreneurs and engineers, have also become friends and we have shared many a conversation on the various challenges they have faced accessing working capital and competing against state-supported foreign companies that are aggressively going after this American market. I have felt their pain, empathized with them and sent many an email to Government representatives and media on the importance of telling Aeronautica's story.

Now they have done the amazing. This "little engine that could" is now an American company EXPORTING American Wind Turbines to Cape Verde at the tune of a $22 Million Dollar contract. How amazing is that? Best part is that the money stays here in the United States to help them grow their business, fuel our American economy, employ Americans, pay U.S. taxes and continue to innovate. Is this awesome or what??

I got chills as I read it, and I get chills as I write about it again. For all of you reading this that has ever doubted your ability to make a difference, stand up for what you know is right and noble, here is the proof. You can make a difference! If we stand together, united and strong - supporting each other - anything is possible.

For more information on Aeronautica Windpower go to: http://aeronauticawind.com/aw/index.html

To become Made in USA Certified & Request a Quote here: https://madeinusa.leads.dynamicssite.com/madeinusa.aspx

Maria Coyne, Executive Vice President of the Business Banking segment at KeyBank, offers great financial advice in her monthly blog Maria on Money. From healthcare to the national debt, Maria delves into issues that affect women business owners and discusses the latest financial news and trends. Her posts are quick reads and great conversation starters, and links to additional information are always offered for those who wish to explore the issues more thoroughly.
 
Maria is responsible for KeyBank's Small Business Administration (SBA) program and is the founder and leader of the bank's Key4Women program for women business owners. KeyBank provides financial solutions, networking opportunities and ongoing education to women-owned businesses through the Key4Women program.
 
For over 50 years KeyBank has been lending to women-owned businesses and watching them grow. In April 2007, Key announced that it would lend $2 billion to women-owned businesses over a five-year period. In April 2009 they met that goal, three years ahead of schedule, and are committing to lending another $3 billion by 2012.
 
Visit Maria's blog at www.key.com/mariaonmoney