Small-to-medium sized business may be in a good position to sell to overseas markets.
Are you looking to make your first export sale or expand into a new foreign market? Each year, thousands of U.S. companies boost their bottom line and competitiveness by meeting world demand for innovative, quality, made in USA products and services. You can too, with a good export plan. When it comes to making new export sales, businesses often have several questions, among the most common:
- Is my product in demand?
- How do I find foreign buyers?
- How would I get paid?
- What is required to ship goods?
- Where do I start?
The World Is Open for Your Business
While the U.S. exports some $2 trillion in goods and services to world markets annually, there is vast opportunity to increase both the number of U.S. exporters and the markets they are selling to— particularly among small and medium-sized firms.
Here are just a few reasons to pursue export sales:
Demand. More than 95 percent of the world’s consumers are outside of the United States. Your competitors are increasing their global market share, and you can too.
Access. Exporting doesn’t have to be burdensome. The Internet, improved logistics channels, free trade agreements, eCommerce, and the array of available export assistance through the U.S. government and its partners has made exporting more achievable; that’s true for even the smallest businesses.
Profitability. Exporting can be profitable for businesses of all sizes. On average, sales grow faster, more jobs are created, and employees earn more than in non-exporting firms.
Competitive Advantage. The United States is known worldwide for high quality, innovative goods and services, customer service, and sound business practices.
Risk Mitigation. Most companies that export have an easier time riding out fluctuations in the U.S. economy, and are more likely to stay in business.
Export Resources. U.S. companies can benefit for U.S. government resources and its state and local partners. For example, the U.S. Department of Commerce has a global network of U.S. Commercial Service offices in 100+ U.S. cities and U.S. embassies and consulates in more than 75 countries. Trade professionals offer export counseling and a range of customized export solutions. They can also put businesses in touch with key resources such as export financing through the U.S. Export-Import Bank and Small Business Administration.