Take advantage of relatively lower costs of transportation. Such knowledge may be utilized for the development of better products that can then be sold more efficiently. Exporting can be lucrative for businesses of all sizes. Boosts profits Despite the risks involved, which are actually part and parcel of any business, exporting brings a number of benefits to small businesses. , Comment Closed, March 20, 2016 3. Through entering the highly competitive global market, small businesses can easily gain new experiences that they can use to enhance their operations. 3. This is brought by international trade and is largely influenced by both the success and quality of the company’s product. If exporting is beneficial to the growth and profit of a company, then why don't more small companies actually export? The Small Business Administration (SBA) provides counseling, training and financing support to small businesses to allow them to take advantage of export opportunities. The U.S. government knows that exporting is good for the economy, too. 14. , Comment Closed, March 1, 2016 But there are many more reasons why a small business should start. Obviously, when an organization starts trading internationally, it joins the worldwide market. Reduce available excess inventory or excess production capacity and staffing due to the struggling domestic economy. Global market share Add sustainable life into your line of current products. Benefits Of everything that matters, July 28, 2011 The number of small-and medium-sized exporters more than doubled between 1992 and 2007, and nearly three-quarters of exporters have fewer than 20 employees. It's absolutely free! 7. With an expanded market, sales of products will definitely increase if … Government statistics indicate that only about one percent of all U.S. companies are involved in exporting. , Erwin Z That's where the U.S. Commercial Service comes in. In reality, such small businesses have lots to gain from exporting. Be among the first to know every time a new article has been posted. A recent study published by the Institute for International Economics concludes that U.S. companies that export not only grow faster, but are nearly 8.5% less likely to go out of business than non-exporting companies. hbspt.cta._relativeUrls=true;hbspt.cta.load(361415, '845ddbca-e212-4bdc-8a9a-bee29b3adc9c', {}); 1. Gain new knowledge It also reports that 96% of the world's customers reside outside the United States. Please help us improve. , Harri Daniel , Comments Off on Benefits Of Exporting For Small Businesses, Benefits of Exporting For Small Businesses. You may have less risk mitigation than at any time in the past because most companies that export have an easier time riding out fluctuations in the U.S. economy and are more likely to stay in business. Increase the scope of your business making you more competitive domestically. 8. 9. Flatten out seasonal product use and market fluctuations to achieve a more even production schedule and sales performance. Or, if you export a little bit already, right now is the time to look at expanding your exports to additional countries. This is brought by international trade and is largely influenced by both the success and quality of the company’s product. Small businesses do engage in exporting, in spite of what many people think. hbspt.cta._relativeUrls=true;hbspt.cta.load(361415, 'f98f2df1-3a01-4129-8e6c-a0f3740a5ace', {}); If you are still leery about exporting, there is good news. Located in 109 cities across the United States and U.S. Embassies and Consulates in more than 75 countries, the U.S. Commercial Service's global network of trade professionals can help open doors around the world. Take advantage of the ongoing reduction in trade barriers thanks to recent trade agreements. Oftentimes, companies think exporting is too burdensome, or they are not aware of export and financing services offered by the U.S. government. Whether you're looking to make your first export sale or expand to additional international markets, the U.S. Commercial Service offers the trade counseling, market intelligence, business matchmaking, and commercial diplomacy you need to connect with lucrative business opportunities. The next major benefit of exporting for any small business is the reduced expense of manufacturing. Take advantage of improvements in trade finance, the internet, and trade agreements that have dramatically increased access to worldwide markets. This reduction is caused by the increase of raw materials and other supplies required for a larger target market. 3. Despite the risks involved, which are actually part and parcel of any business, exporting brings a number of benefits to small businesses. 4. The profitability of small firms increases by 26% when they are given the opportunity to export … As many U.S. firms seek new opportunities, they find conducting international business offers unique challenges. Exporting provides small business an expanded market and this increases the sale of items. Tagged as Exporting, small business, March 15, 2016 2. But these two numbers do not reflect the whole story. Third, companies say they would export if they had a level playing field. Take advantage of current favorable exchange rates that make U.S. goods and services even more of a bargain to foreign buyers. 1. Increase your overall sales and profits. 5. The SBA is dedicated to helping small businesses succeed in the overseas marketplace by providing one-on-one as well as intra-agency trade education and by making export loan guaranty programs available to small companies. 2. , Erwin Z, Comment Closed, March 1, 2016 Second, companies claim that they do not have the staff with adequate export knowledge about how to go about entering the export arena and how to follow through once orders are received. While globalization has created opportunities for small businesses to sell their goods and services in new markets, not enough small businesses … 4. A key benefit associated with exporting for small business is the likely increase of profits and sale. 14 Reasons to Start Exporting. Reduces manufacturing expenses Check out the list of current U.S. Commercial Service partners at the Strategic Partnership Program's website. , Erwin Z, 1 Comment, March 5, 2016 In fiscal 2010, the U.S. Commercial Service network generated nearly 12,300 export successes, facilitating 34.8 billion dollars in U.S. export sales. By entering SBA and Visa's "2013 Export Video Contest," you'll get the chance to educate other small businesses about the benefits of exporting and the government programs that can help -- and you … Extend and broaden your customer base. Please rate this article: on Benefits Of Exporting For Small Businesses. Every year, the U.S. Commercial Service, often in partnership with the SBA, helps thousands of U.S. companies navigate those challenges to export goods and services worth billions of dollars.

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