Wednesday, December 03, 2003
Here's a good article from Jacksonville, FL the explores the obstacles of export financing to many small and mid-sized companies. As one Florida Entrerprise official notes, ""Most banks are still more comfortable financing a used car lot across the street than they are financing even a very good international transaction for a very good company."
Not surprisingly, the bankers see the problem as limited managerial outlook on the part of most firms. As one banker notes: ""American business has to make a decision. Are we going to be part of [global trade], or are we going to try and avoid it?"
The export orientation of your regional economy matters. Export-oriented firms tend to grow faster and pay higher wages than companies that ignore global markets. EDPros in other countries focus much more than we do on export promotion.
Here's a report from the U.K. that focuses on the higher performance levels achieved by export-oriented firms. Go.
posted by Ed Morrison |
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Some Background on EDPro Weblog
The purpose of this weblog is to help economic development professionals -- EDPros -- keep up with the changes sweeping our profession. Strap on your goggles. It's a whole new game. There are no experts any more. The only place to learn about economic development is from other EDPros who are doing it.
One other point: the prevaling approach (paradigm, if you like) in economic development is shifting from competition to collaboration. There are a lot of reaasons underlying this shift, but here's the important insight: You, your community, and your region will do better by collaborating and sharing information.
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Speaking and workshops on Open Source Economic Development
As the idea of Open Source Economic Development starts spreading, more people are asking about it. Visit the I-Open web site to learn more. My colleagues and I are happy to explain the basic concepts in a talk or a workshop. E-mail Susan Alshuler if you'd like to learn more about workshops and speaking.
Background on Ed Morrison
Download some background information on me here.
How good are your banks at export financing?
