Keys to a Successful Small Business Exporter
As a strategy, trade can seem risky for a small business. Even if working in a familiar language, the consumer base is foreign, the procedures and red tape can be overwhelming, and the logistics are complicated if encountered for the first time. On top of it all, peers and politics assume trade is meant for the titans of industry and not smaller companies.
In reality, many small businesses are able to access the benefits of trade and have utilized it as a smart growth strategy. In fact, 98% of the 300,000 US companies exporting are small and medium sized businesses and are proven to sell more, support more jobs, and pay higher wages than small businesses that do not. Furthermore, 58% of small businesses in the 2016 National Small Business Association survey reported that they have exported, a third of which said 10% to 50% of their sales were due to exporting. In the global landscape, 34% of US goods exported originate from small and medium businesses.
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