Business Law News Headlines

OPIC Opens Small Business Center

WASHINGTON, D.C. – The Overseas Private Investment Corporation (OPIC) today opened the OPIC Small Business Center, a new resource designed to improve the agency’s capacity to support investment by U.S. small businesses in emerging markets.

The latest of several OPIC outreach efforts to small business, OPIC President and CEO Dr. Peter Watson announced establishment of the center on September 18, when OPIC launched its Small Business Initiative with the Small Business Administration.

The Small Business Center will coordinate OPIC expertise for the development of small business deals through a streamlined approval process aimed at reducing costs for U.S. small businesses. OPIC Chief Financial Officer Gary Keel, a former acting associate administrator of the SBA, will serve as director of the center.

Dr. Watson said, “By focusing OPIC’s considerable expertise on the efforts of U.S. small businesses to expand into emerging markets, we hope to unleash one of the primary engines of American economic growth – small businesses themselves – on new markets overseas, which in turn will stimulate free markets in developing countries. Establishment of the center, along with the OPIC/SBA Small Business Initiative, represent an aggressive response to President Bush’s call for greater coordination between federal agencies, especially in the area of trade and overseas investment.”

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	Did You Know?
	Annual Budgets are a component in small business For an existing business, this is a realistic budget for the current fiscal year based on past income and expenditures. It includes anticipated changes in income and spending that may occur during the year. For a start-up business, this is a realistic projection of the income and costs of doing business for a year.