If your business has been negatively impacted by cheap imports or cheap foreign labor, there is a program that may be able to assist you in learning how you can adapt to the new market conditions.
The Trade Adjustment Assistance Center provides up to $75,000 to manufacturing and service companies that have been impacted by imports. The money is matched dollar-for-dollar to what your company expends (maximum project is $150,000). The money is used to hire third-party consultants who provide marketing, IT, budgeting, analysis, and efficiency-improvement project advice. To be eligible, a company must have had a drop of 5% or more in sales or employees due to foreign competition.
This project is funded by the U.S. Dept. of Commerce. See MATAAC for more information.
Thursday, April 22, 2010
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