Business in the Twin Cities has been growing slow, studies show

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Small-business companies in the Twin Cities are not competitive enough in the national market; many firms still "lack awareness about global export opportunities and resources," according to the Pioneer Press.

Local business leaders, economic development officials and the Brookings Institution studied business across the Twin Cities metro area and proposed to double the value of the area's foreign business over the next five years, the Pioneer Press said. They hoped it could help the state economy and job market to grow.

The Twin Cities "ranks 14th in exports among the 100 largest metro areas in the nation," according to the Pioneer Press, but the study showed that export growth rate in the state is still slow, ranking 67th in the nation.

The Brookings Metropolitan Export Initiative planned to start a new "export team" to help identifying "export ready" companies and create networks for them, bringing them to the national market, according to the Pioneer Press.

It is hard for small-business companies in the Twin Cities to grow nationally. At the same time, it is also tough for women to start a business in the metro, the Star Tribune said.

Just like the export business in the area, growth rate of women-owned businesses has slowed down though the number grows nationwide, according to a study sponsored by American Express, the Star Tribune said.

Janet Zahn, the founder of the Camden Music School in Minneapolis, told the Star Tribune it was "a desire for something different" when she decided to start the company.

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This page contains a single entry by Veronica Ho published on March 25, 2012 9:46 PM.

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