Bailout Help for Companies that Won't Hurt the Tax Payer's Wallet

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Monetary penalties for violations of U.S. export controls are on the rise. During these trying times the current administration has developed ways to give and take from U.S companies. How to avoid the export trap?

In this time of economic uncertainty, companies find themselves slashing cost and looking to the government for any type of assistance. To the shock of many Americans the government has provided an unprecedented amount of aid. Paradoxically, ways to recoup funds from companies have also been realized. One of these ways has been through increased monitoring of exports and subsequently imposing penalties for violations that in many instances are in the millions.

This has impacted small and medium sized businesses the most. These companies are more likely to lack the resources to keep up with the alphabet soup of regulations such as ITAR and EAR. This imbalance was quickly recognized by former Aerospace and Defense Trade Manager and current Managing Partner of Outsource Trade Group, LLC,, Nancy Wood-Kouassi. In response, she wrote the recently released book titled Export Compliance: A Practical Guide to U.S. Export Controls. With the objective to take the mystery out of exporting as well as make compliance to trade regulations achievable to all businesses.

"What no government wants to do", said author Nancy Wood-Kouassi, "is have exporting perceived by the business community as a risk consequently causing a decline in exports." Countries such as the U.S., China, and Singapore have built their wealth off the back of export promotion and industry. Inadvertently discouraging exports could be fatal for any economy.

While most companies find themselves counting staples, the revenue for training for export controls is not there. U.S. export controls are unique, in the fact, that a company doing global business to some extent must have everyone from the shipping clerk to the CEO cognizant of the fundamentals of export controls. Export Compliance: A Practical Guide to U.S. Export Controls was written to be readable by all and comprehensive in content. Allowing companies to focus away from preservation and re-direct it on the expansion of their business.

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Nancy Wood-Kouassi
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