Exporting has helped some small businesses not only survive but thrive during the tough economic times we’ve endured over the past few years. One big factor in exporters’ success? Market demand. More than 70 percent of the world’s purchasing power lies outside the U.S.
The potential new customers and higher profit margins of foreign markets present an incredible growth opportunity for small businesses. However, less than one percent of U.S. businesses export their goods and services. So what holds the others back?
Entering foreign markets can be intimidating. Some business owners feel they can’t, or don’t want to, compete internationally. What they haven’t yet realized is that the global contest has already come to them. In this world of 7 billion people, with 24-hour global communications and next-day delivery, competition doesn’t stop at borders.
In many cases, small businesses just don’t trust that they possess the knowledge or resources to start exporting, and they don’t know where or how to begin.
The following list of articles provides a perfect starting point for your export exploration—and perhaps the keys to unlocking the door to your global expansion.
Andrew Russell leads Trade Promotion in FedEx Global Marketing. His team works with the U.S. Commercial Service and other trade organizations to train small businesses and facilitate their growth through exporting.