U.S. Small Business Administration and the World Trade Center Arkansas Form Strategic Alliance

Photo by Sam Cushman

Small Business Administration Arkansas District Director Edward Haddock (left) stands with World Trade Center Arkansas President and CEO Dan Hendrix (right) after the signing of the Strategic Alliance Memorandum on Wednesday, October 10, 2018. Small business concerns make up nearly 80 percent of all exporting companies in Arkansas and are a key component of the state's economy.

The World Trade Center Arkansas and the U.S. Small Business Administration officially formed a strategic alliance this week to improve small business opportunities in Arkansas and strengthen and expand small business development throughout the state.

The alliance was publicly recognized with a ceremony and signing of a Strategic Alliance Memorandum on Wednesday, Oct. 10, at the World Trade Center in Rogers. The SAM is a collaboration between the SBA and the World Trade Center Arkansas to connect small business concerns to SBA programs designed to generate business expansion and job creation within the state of Arkansas.

"The Small Business Administration needs partners like the World Trade Center Arkansas to support our small businesses through each step — whether they're just beginning to look at the international market or taking an intensive training program to understand the intricacies of exporting your product out of the United States," said Edward Haddock, District Director of the U.S. Small Business Administration Arkansas District Office. "These partnerships are what allow small businesses to compete more effectively, more openly and more globally. So we appreciate our partnerships throughout the entire state."

The SAM signing follows a $150,000 State Trade Expansion Program (STEP) grant award to the World Trade Center Arkansas from the Small Business Administration in Washington, D.C. The World Trade Center Arkansas will use the grant funds to help increase the number of eligible small business concerns that are exporting from the state and to increase the value of current Arkansas small business exports.

"Small business concerns are extremely important for our state's economy," said Dan Hendrix, President and CEO of the World Trade Center Arkansas. "They are a key part of Arkansas's exporting community, making up 80 percent of all companies in Arkansas that export products and services. They also generate nearly 20 percent of the total exported goods from Arkansas. So we are highly dedicated to helping small businesses concerns grow their exports and expand their business."

The mission of the World Trade Center Arkansas is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services. The Center is part of the University of Arkansas and serves as the trade promotion arm for the Arkansas Economic Development Commission. For more information and valuable updates, please follow the Center on Facebook and Twitter or subscribe to the World Trade Center Arkansas newsletter.

About the U.S. Small Business Administration: The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start and grow their businesses. It delivers services to people through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visitwww.sba.gov.

About the SBA Arkansas District Office: The SBA Arkansas District serves Arkansas with locations in Little Rock and Northwest Arkansas. Visit www.sba.gov/ar or follow @SBA_Arkansas for more information including resource partners, lenders, workshops, success stories and other resources to help small businesses start, grow and succeed.