Exporting - Just the Basics, Please
What are some of the basics to consider about global markets before you begin exporting? Glad you asked!
- Did you know that more U.S. small and medium-sized companies are exporting than ever before?
- Many small and mid-sized companies have exported a product or service to at least one international market.
- The value of exported goods and services exceeded $1.8 trillion in 2010.
- The growth of the economy has been supported by export trade – and this trend is expected to continue to thrive.
For many companies, the simple presence of a website has created global opportunities. With just a few simple steps, you can process credit card payments for buyers from around the world. Another small investment can assist you in translating pages of your website for increased engagement with foreign customers. Add an online store and you’ve increased your access to even greater international customer potential.
Did you know that there are shipping and documentation services that can help facilitate your exporting efforts? Many shippers offer excellent customer services including – international business advice, customer broker services, cost calculators, and financing. Pickup and delivery to almost any location in the world makes these services a key resource for exploring new markets abroad.
What are some other things you can do to expand your global sales?
- Company website
- Domestic and international trade shows
- E-commerce and online shopping platforms
So if this is all true and exporting is something all businesses should consider, then why don’t more do so? Perhaps because business owners don’t know more. For example:
- Did you know that over 95% of the world’s consumers live outside of the United States?
- Did you know that 60% of small businesses engaged in exporting derive 20% of their annual earnings from export activity?
- Did you know that export activity is expected to triple by 2030?
- Did you know the world’s “middle class” consumer base is expected to reach 1.2 billion over the next 20 years?
- Did you know exports from the U.S. are expected to grow 10% on average per year over the next several years?
With more foreign goods coming into the U.S., in order to stay competitive, U.S. companies need to consider opening their own markets abroad. Stepping into the exciting arena of global exporting opens your eyes to the world economy, teaches new business skills, and expands understanding of cultures and opportunities for relationships you may never have thought possible.
So what are you waiting for? Let’s do this! #bringtheglobal
*Sources - United States, Department of Commerce
