VEDP Launches ‘Going Global’ Initiative for Defense Companies

Tuesday, 13 August 2013 14:45 by Info@YesVirginia.org
Today, VEDP announced the launch of its ‘Going Global’ initiative as part of its strategy to help Virginia defense companies mitigate the effects of sequestration...

Today, VEDP announced the launch of its ‘Going Global’ initiative as part of its strategy to help Virginia defense companies mitigate the effects of sequestration.

Sequestration is the name for the automatic federal spending cuts that began on March 1 as part of the Budget Control Act of 2011, enacted by Congress to resolve the U.S. debt-ceiling crisis.

The impact of Sequestration has been less severe than expected—Department of Defense contracts decreased from $56.9 billion in FY2011 to $51.5 billion in FY2012. However, the Commonwealth is the top state for DoD contracts, raising concerns that lost contracts could results in lower revenues for Virginia companies unless they can find new customers.

As part of its sequestration mitigation strategy, VEDP is working with Virginia defense companies to help them find those new customers overseas. The receipt of nearly $2 million in federal and state funds will allow VEDP to augment some of its most successful programs already underway within the International Trade division. 

For example, defense companies will be able to utilize VEDP’s Global Network team of in-country consultants from more than 55 countries. Market research services include compiling background information, identifying potential distributors, conducting due diligence, arranging matchmaking appointments with potential partners and customers, assessing competition, and helping companies understand the regulatory environment.
 
VEDP will be able to assist companies with export compliance. Virginia companies participating in this program will receive an export compliance analysis, including guidance on completing a Commodities Jurisdiction Analysis and submitting the required paperwork to the Department of State in compliance with International Traffic in Arms Regulations.

The grant will also allow companies to enhance their marketing and digital presence to target foreign markets through website translation and search engine optimization.

VEDP recently released an export guide for defense companies titled Export Opportunities for Virginia’s Defense Industry. The guide outlines regulations, processes and strategies specific to the defense industry, and contains marketing and sales best practices for both new and experienced exporters. 

VEDP’s International Trade division offers a wide variety of programs to help Virginia companies succeed in the global marketplace. To learn more, click here.

Search


Blog Homepage

Return to blog homepage


About VEDP

Virginia Economic Development Partnership is the Best State for Business

The Virginia Economic Development Partnership (VEDP), a state authority created by the Virginia General Assembly to better serve those seeking a prime business location and increased trade opportunities, provides confidential site selection and international trade services. VEDP's mission: To enhance the quality of life and raise the standard of living for all Virginians, in collaboration with Virginia communities, through aggressive business recruitment, expansion assistance, and trade development, thereby expanding the tax base and creating higher-income employment opportunities.

Archive

© Copyright 2017

VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP

© 2014 All rights reserved.
YesVirginia Business Blog | All posts tagged 'Thumbtack.com'

Virginia Receives an “A” for Small Business Friendliness

Tuesday, 18 August 2015 14:39 by Info@YesVirginia.org
Virginia received an A for overall friendliness on Thumbtack.com’s fourth annual Small Business Friendliness Survey. Virginia was the highest ranked state in the Mid-Atlantic and top 10 nationwide. Nearby competitors Maryland received a D+ and North Carolina a B-...

Virginia received an A for overall friendliness on Thumbtack.com’s fourth annual Small Business Friendliness Survey. Virginia was the highest ranked state in the Mid-Atlantic and top 10 nationwide. Nearby competitors Maryland received a D+ and North Carolina a B-.

Thumbtack.com surveyed 17,633 small businesses across the U.S. with 36 questions to evaluate the friendliness of state and local policies toward small businesses on more than a dozen metrics.

Highlights for the Commonwealth include an A+ for ease of starting a business, licensing regulations and environmental factors.   

“Small business owners on Thumbtack have consistently told us that they welcome support from their governments but are frequently frustrated by unnecessary bureaucratic obstacles,” said Jon Lieber, chief economist of Thumbtack.com. “Virginia's policies that support entrepreneurs could provide a helpful guide as we fight a general decline in business startups nationwide.”

“There is an excellent climate for small business in Virginia,” commented a translator and professor in Roanoke. “It is a great place to start and run a business because the state offers support, networking, referral and community enthusiasm.”

Richmond was ranked the No. 3 friendliest city in the U.S. and received an A+.

The survey results once again illustrate that Virginia is a great place for entrepreneurs to start and grow a business. To learn more about the Commonwealth’s pro-business policies, strategic location, competitive operating costs, leading research institutions and highly educated workforce, click here.

Image courtesy of Thumbtack.com

Virginia Receives an A+ for Small Business Friendliness

Tuesday, 17 June 2014 09:35 by Info@YesVirginia.org
Virginia received an A+ on Thumbtack.com’s annual Small Business Friendliness Survey. The Commonwealth improved its rank to the fourth overall friendliest state in the U.S. and the top state on the East Coast...

Virginia received an A+ on Thumbtack.com’s annual Small Business Friendliness Survey. The Commonwealth improved its rank to the fourth overall friendliest state in the U.S. and the top state on the East Coast.

Virginia outshone its surrounding competition for the third year in a row. Maryland received a C- and North Carolina earned a C+. Virginia has never received less than an A since the inception of this ranking.

Thumbtack.com partnered with the Kauffman Foundation to survey more than 12,600 entrepreneurs across the country. This ranking is unique because its results come straight from the comments of small business owners.

“After a two-month survey of thousands of small business owners nationwide, business owners have reaffirmed that Virginia is a premier destination for starting and running a business,” said Jon Lieber, Chief Economist of Thumbtack.com. “Creating a business climate that is welcoming to small, dynamic businesses is more important than ever, and Virginia's A+ grade by its small businesses shows what a welcoming and friendly place the Commonwealth is for entrepreneurs.”

Highlights for Virginia include a No. 3 ranking for ease of licensing regulations, a No. 4 ranking for ease of overall regulations, and a No. 5 ranking for training and networking programs. According to Thumbtack.com, the strongest correlating factor for the perception of small business friendliness is the ease of licensing forms, requirements and fees.

In addition, the study examined 82 metropolitan regions. Richmond was ranked No. 10 overall and Virginia Beach was ranked No. 20 overall. Richmond and Virginia Beach were ranked No. 3 and No. 4, respectively, for ease of licensing regulations.

Entrepreneurs and start-ups are becoming increasingly important for economic growth and organic job creation. According to Thumbtack.com, “Virginia’s small businesses were the third most optimistic in the nation when it came to plans to hire more employees in the next twelve months.”

To learn why Virginia is a great place to start and grow a business, click here.

Virginia Receives an “A” for Small Business Friendliness

Tuesday, 23 April 2013 10:12 by Info@YesVirginia.org
Virginia received an “A” for the second year in a row from Thumbtack.com’s Small Business Friendliness Survey...

Virginia received an “A” for the second year in a row from Thumbtack.com’s Small Business Friendliness Survey.

The Commonwealth also improved its rank to No. 6 in the annual study. The Kauffman Foundation and Thumbtack.com surveyed more than 7,700 small business owners nationwide to obtain the results.

Virginia outshined its competition in the mid-Atlantic. In the category of overall friendliness, Virginia received an “A” while Maryland received a “C,” North Carolina received a “B+” and Tennessee received a “B+.”

Virginia also received “A’s” for its ease in starting a business, regulations, and training and networking programs.

“For the second year, Virginia set an outstanding example of providing a supportive environment for small business,” said Sander Daniels, co-founder of Thumbtack.com. “Our research with thousands of small businesses points to the importance of clear and consistent regulations and relevant training programs, and these are exactly the areas where Virginia excels.”

Another bright spot for the Commonwealth is Virginia Beach, which received an “A+” and was ranked the No. 2 city for overall friendliness and No. 1 city for ease in starting a business.

Entrepreneurs continue to start their businesses in the Commonwealth because Virginia offers an innovative environment combined with the right resources. To learn more about starting a business in Virginia click here.

Small Businesses Rank Virginia A Top Ten Friendliest State for Doing Business

Monday, 11 June 2012 09:31 by Info@YesVirginia.org
Virginia was ranked the No. 7 Friendliest State by more than 6,000 small businesses surveyed by Thumbtack.com and the Kauffman Foundation in the recently published Thumbtack.com Small Business Survey...

Virginia was ranked the No. 7 Friendliest State by more than 6,000 small businesses surveyed by Thumbtack.com and the Kauffman Foundation in the recently published Thumbtack.com Small Business Survey.

Virginia was in the top ten nationwide in the following categories: lowest cost to hire a new employee, business-friendly labor and hiring regulations, strong training programs, and networking events geared towards small businesses.

The Commonwealth was also the No. 1 state in the Mid-Atlantic region in the categories of overall small business friendliness, lowest cost of hiring a new employee, and ease of starting a small business.

Small businesses and entrepreneurs are at the heart of economic growth, providing 65 percent of net new jobs nationwide between 1993 and 2009, according to the Thumbtack.com Small Business Survey.

Governor McDonnell’s recent announcement of new legislature to encourage investment in small business further illustrates Virginia’s intent to attract and assist small businesses. Senate Bill 344 and House Bill 585 created the Small Business Investment Grant Fund which offers a grant equal to 10 percent of the qualified investment.

To learn why Virginia is a great place to start a business and read more about the extensive resources available to entrepreneurs, click here.

Search


Blog Homepage

Return to blog homepage


About VEDP

Virginia Economic Development Partnership is the Best State for Business

The Virginia Economic Development Partnership (VEDP), a state authority created by the Virginia General Assembly to better serve those seeking a prime business location and increased trade opportunities, provides confidential site selection and international trade services. VEDP's mission: To enhance the quality of life and raise the standard of living for all Virginians, in collaboration with Virginia communities, through aggressive business recruitment, expansion assistance, and trade development, thereby expanding the tax base and creating higher-income employment opportunities.

Archive

© Copyright 2017

VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP

© 2014 All rights reserved.