ICSB Joins Forces with the U.S Small Business Administration for 10x10 Program
Aug 1, 2018
The International Council for Small Business (ICSB) has recently formed an agreement with the United States Small Business Administration (SBA) to collaborate on the 10x10 Program with the SBA’s Deputy Associate Administrator for International Trade, Mr. Eugene Cornelius, Jr. who has accepted a one year detail with ICSB.
The 10x10 Program promotes the facilitation of trade between other countries’ small businesses and the small businesses of the United States. This opportunity is made possible through the Small Business Act and the U.S. Small Business Administration’s Strategic Plan.
One of the overarching objectives for the 10x10 Program will be to emulate and articulate the mission of the U.S. Small Business Administration which is to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of the United States.
The framework for the ICSB small business best practice guidelines will be the following three primary pillars.
1. Contracting (Procurement)
In the United States, the Office of Government Contracting sets goals with other federal departments and agencies to reach the statutory goal of 23 percent in prime contract dollars to small businesses. This office also provides small businesses with subcontracting procurement opportunities, outreach programs, and training.
2. Capital (Business Financing)
Not every small business has the same needs for capital injection. We will design and develop a vast array of financing options for small businesses from the smallest needs in micro-lending – to substantial debt and equity investment capital (venture capital).
3. Counseling – Entrepreneurial Development (Education, Training & Technical Assistance)
In order to build and demonstrate a comprehensive public/private networks for training and education, we will use the existing SBA’s model. This results driven and impactful model clearly demonstrates free individual face-to-face, and internet counseling for small businesses, and low-cost training to entrepreneurs in over 1,800 locations.