International Matchmaker Summer 2011

8/6/2019 International Matchmaker Summer 2011

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news with a competitive edge

summer 2011

ENERGY AT

A CROSSROADS 30Washington state, like the rest of the country,is at an energy crossroads. Demand for morepower — green or otherwise — is driving newconversations. But with hydro, coal and nuclear power largely off limits and inconsistencieswith wind and solar power, what will power Washington state in the years ahead?

Economy 36

Employment and Workplace 41

Industry 49

Business Backgrounder



For a business, selling goods beyond U.S. borders is both a daunting and exciting challenge. The excitement

o seeing your business grow beyond borders is one thing, but it is raught with questions.

How can you be sure that the oreign company that is buying your product is creditable? How can a com-

pany survive when it depends on a shipment getting to a distant land? Where can a business fnd the capital

to start selling goods abroad? Where does a business go to even begin answering these questions?

Many businesses believe that “going international” is too complicated or too inancially risky to try.

Fortunately, or businesses in Washington state, there is help.

bringing businesses and nance togetherIn 1983, the Washington state Legislature created the Export Finance Assistance

Center o Washington (EFACW). The goal o this independent, non-govern-

mental agency: provide ree export fnance counseling assistance to small- and

medium-sized Washington state businesses that want to export abroad.

The center provides assistance in a number o areas, including seminars and

training on export fnance rom industry experts. It also provides inormation on

various government and private loan products. The center provides consulting

services to help businesses through the complicated world o oreign banking

and exchange.

“Becoming educated in common export transaction types — and the unique

risk-cost balance o each — is an important frst step,” said Michelle Biggs, global

trade specialist with JPMorgan Chase. “The Export Finance Assistance Centero Washington is an important source o inormation in this regard.”

summer 2011

business backgrounder | industry

International MatchmakerSee who’s trying to match small business with international banks.

Daniel C. Brunell

John Brislin, president and CEO of the Export Finance Assistance Center of Washington.

The Export Finance Assistance Center of

Washington brings together companies

and banks to ensure safe and successful

international transactions.

StartedbytheLegislaturein1983,

thenonprotcenterhelpscompanies

navigatethecomplexworldofnancing

international trade.

Exports from Washington state have been

one of the bright spots in Washington’s

economy during the Great Recession. The

state’s exports recovered strongly in 2010,

with more than $1.4 billion in export value

over 2009.

In January 2010, the Obama administration

pledged to double U.S. exports by 2014.

To meet the 2014 goal, the Export Import

BankoftheUnitedStatesaimstoadd5,000new small businesses to their portfolio by

2014 and reaching $9 billion in annual small-

business exports.

Intherstyearofthiseffort,morethan

900 small-businesses have worked with the

ExportImportBankforthersttimein2010.

at a glance



50 association of washington business


It is this specialization where the center comes into its

own. The center acts as a spoke to numerous public and

private fnancial institutions, state and ederal agencies,

insurance companies, brokers and credit reporting agen-

cies. They can guide a company through the trade process

— even act as a matchmaker or a business in gaining und-

ing through fnancial and government sources.

“A lot o our job is to get a dialogue going between a

business and a fnancial institution. We really strive to fnd

the right match between a business and whoever can pro-

vide their fnancing,” said John Brislin, president and CEO

o the Export Finance Assistance Center o Washington.

“Because we are in a unique position as a neutral party, we

can bring new ideas or services to the table that a business

may never have considered. EFACW matches small busi-

nesses with banks, non-bank lenders, and credit insurers

to support their export activities.”

Funding rom the state Department o Commerce

underwrites the cost o services, so businesses aren’t lay-

ing out more unds to take this next step.

a bright spot in the economy

Recently, the Export-Import Bank o the United States,known as the Ex-Im Bank, announced that more than 1,700

small business transactions totaling more than $2.4 billion

were completed in the United States in the frst hal o fs-

cal year 2011.

“Our economic recovery is dependent in large part on

the success o our small businesses,” said Ex-Im Bank

Chairman and President Fred Hochberg in a May 20, 2011

news release. “Our

eorts to encourage

more companies to

export are paying

o.”

And this may be

only the beginning.

In January 2010,

the Obama adminis-

tration pledged to double U.S. exports by 2014. To help make

this a reality, the Ex-Im Bank set a target o adding 5,000

new small businesses by 2014 to their portolio and reaching

$9 billion in annual small-business exports. In the frst year

o this eort, more than 900 small-businesses have worked

with the Ex-Im Bank or the frst time in 2010.

Taking a cue rom the eorts o the administration, the

Ex-Im Bank, private banks and companies have tailored

products or smaller exporters. One such bank is JPMor-

gan Chase.

“JPMorgan Chase has teams throughout the world

that are dedicated to helping U.S. small- and medium-

sized companies conduct business in oreign markets,”

said Curt Fraser, president o middle market banking or

JPMorgan Chase. “Oten we have companies meet with

our bankers on the ground in oreign markets and we

help them navigate the local business environment and

walk them through the nuances o that country’s banking

system and requirements.”

It’s not only banks that are helping small- and medium-

sized businesses with fnancing their exports. UPS Inc. is

expanding its international shipping business to include

fnancial services via their subsidiary, UPS Capital.

“What separates us rom others is that we are a one-

stop-shop or business,” said Gina Kaveny, senior business

development manager o global supply chain inance or

UPS Capital. “We can ship, insure and allow small to mid-size companies to borrow operating capital against goods

warehoused abroad or moving through the UPS network.”

So ar, everyone’s eorts to increase exports — both pri-

vate and public — have been successul.

Exports rom Washington state have been one o the

bright spots during the Great Recession. Washington

state’s exports recovered strongly in 2010, with more than

$1.4 billion in val-

ue o exports over

2009. Even though

these statistics are

still dominated by

aerospace, agricul-

ture and orestry,

se ct o rs su ch as

medical equipment

are rising — sectors that are dominated by small and mid-

sized businesses.

What’s perhaps even more encouraging is that businesses

are becoming more aggressive about exporting their goods.

“Becoming educated in common export transaction types — and the unique risk-

cost balance o each — is an important frst step. The Export Finance Assistance

Center o Washington is an important source o inormation in this regard.” —Michelle Biggs, global trade specialist with JP Morgan Chase

“We’ve seen a defnite increase in interest. A lot more

companies are attending our seminars or calling us up

asking or assistance. It is really encouraging to see.

Especially when a business discovers that there is morehelp or them then ever could imagine. ” — Brislin



“We’ve seen a deinite increase in interest,” said Brislin. “A lot more companies are attending our seminars or calling

us up asking or assistance. It is really encouraging to see. Especially when a business discovers that there is more help or

them then they could ever imagine.”

summer 2011


Export Finance Assistance Center of Washington

www.efacw.org

Export-Import Bank of the U.S.

www.exim.gov

JP Morgan Chase International Banking

www.chase.com/online/commercial-bank/

solutions-internationalbanking.htm

Small Business Administration Export Assistance Center

www.sba.gov/content/us-export-assistance-centers

UPS Capital

www.capital.ups.com

The Export Finance Assistance Center of Washington was

createdbytheWashingtonstateLegislaturein1983toprovide

exportnancecounselingassistancetosmall-andmedium-

sized exporters or prospective Washington-based exporters.

The Export-Import Bank of the United States is an independent

federalagencythathelpscreateandmaintainU.S.jobsbylling

gapsinprivatesectorexportnancingatnocosttoAmericantaxpayers.Thebankprovidesavarietyofnancingproducts,

including working capital guarantees, export-credit insurance,

andnancingtohelpforeignbuyerspurchaseU.S.capitalgoods

and services.

“Our economic recovery is dependent in large part on the success o our small businesses.

Our eorts to encourage more companies to export are paying o.” —Fred Hochberg, chairman and president of the Export-Import Bank of the United States

Amy Igloi-Matsuno, Owner

Amy’s on the Bay, Port Orchard

“State government doesn’t have a

revenue problem; it has a spending problem.

I don’t mind paying my fair share of taxes,

but I want to know it’s being spent wisely.

What they do to business has a ripple effect

throughout the state’s entire economy.”

Our state’s business climate

is tough. But you can do

something about it.

To help ensure your voice

is heard in Olympia, visit

www.AWB.org and click

on “We Mean Business.”

Documents

International Matchmaker Summer 2011