Celebrating SMEs: The 50th Anniversary of National Small Business Week

For one week a year since 1963, the United States has honored its small business owners and celebrated their entrepreneurial spirit.  This is an opportune time to take a look at how the government helps small businesses put their mark on the map—specifically, the world map.  How does the U.S. government assist SME’s who are beginning to export and who would like to expand their existing international operations?  There are actually an array of programs in place, some longstanding, others implemented or enhanced as a part of the ongoing National Export Initiative, and navigating them can be confusing. This post serves as a starting-point for export-oriented entrepreneurs, both old-hands and new.

Where to Start:  Given that 96 percent of the world’s consumers live outside the United States and two-thirds of global purchasing power resides outside our national borders, it is important for small businesses to tap into international markets. Yet this task can be incredibly intimidating for small businesses working to maintain their corner in American markets. Here are a handful of government programs that can make beginning to export less of a headache: 

1. Assess Your Business:  This quick Export.gov questionnaire and online training course can help you to determine if your company could become a successful exporter.
2. Let the Feds Know Who You Are:  If you think your product could do well overseas, you can register to access trade promotion programs through the Department of Commerce here.
3. Talk to Those in the Know: The U.S. Government provides a number of resources to help you get started, such as U.S. Export Assistance Centers, trade specialists focused on helping SMEs, and the U.S. Trade and Development Agency’s database of fee-based international trade consultants with a unique interest in SMEs.
4. Make a Plan:  The U.S. Small Business Administration has a customizable tool that can serve as a good starting point in strategizing how to export your product.  The Commerce Department has a variety of sources to help you locate export markets and understand ongoing trends in those marketplaces.  The U.S. Commercial Service, in partnership with private sector vendors, can play matchmaker between you and your future international customers.
5. Find the Financing:  The federal government has an array of programs in place to help you secure the financing and insurance you need to move your product form one side of the globe to another.

 
How to Keep It Going:  If you are already an exporter, you know that meeting regulatory requirements and maintaining your competitive edge in international markets is an ongoing process.  You may need to use some of the tools mentioned above, but here are a few government resources that may not be on your radar:

1. Find New Markets: The Commerce Department runs several programs to help you expand your market access.
2. Make Sure You are Getting a Good Deal:  Commerce also has tools available to monitor whether different countries are abiding by the terms of free trade agreements and allow you to report trade barriers.
3. Maintain Smooth Financing:  Continue to utilize export insurance programs to minimize the risks of international trade and SBA’s loan programs to aid expansion.

 
This plethora of programs serve as a useful starting-point for SMEs, but if you need further assistance on the nitty-gritty reality of international trade, please contact us at TradeMoves LLC via phone at 202.415.4016 or email at MWheeler@TradeMoves.net or SJarosz@TradeMoves.net.