Trade and Economics - US Department of State


The ubiquitous shopping cart was invented in 1937 by Sylvan Goldman, a supermarket owner in Oklahoma City. (© AP Images)

Small Business Plays a Big Role in Innovation

Paula King had a problem. Diagnosed with cancer in 2003, King was inundated with goodwill gift food baskets from her friends. But her digestive system had an intolerance for corn products, commonly used in foods but sometimes omitted from ingredient lists, leaving her afraid to eat the well-intentioned gifts. Nor could she just give the baskets to her friend Susan Lawens, who had her own allergy to wheat, another frequent ingredient. King and Lawens turned a problem into a thriving business: they started HealthyGoodiesGifts.com, marketing customized gift baskets to those, like themselves, with special dietary needs. Two years later, their business received a Stevie Award for Women in Business as the most innovative company of 2005. Their success illustrates several points about the role of small business in innovation. (complete text)

Companies Find Advantages in Moving Near Fiercest Competitor

Locating business competitors together, which might seem counterintuitive, helps an entire industry to succeed, according to many economic development experts. This strategy increases business innovation and boosts wages, according to Michael Porter, a business cluster expert and professor at Harvard University. USINFO talks to advocates of business clusters and looks at initiatives in business clustering. (complete text)

Voters, Candidates Shifting Their Attention to Economic Issues

As the number of deaths in Iraq declines and the coverage of the issue in the news media decreases, polls indicate that Americans are as concerned or more concerned about economic issues. Economic concerns commonly dictate voters' choices in American elections, says NBC News Political Director Chuck Todd. And presidential candidates are paying attention and adjusting their campaign strategies. (complete text)

08 May 2008 - Latin American Countries Should Develop New Business Sectors

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