Grow and Diversify Revenue Through Exports

©iStock/MJ_Prototype

According to SBA, here are approximately 1.3 million U.S.-based small businesses that export products, a nearly five-fold increase over previous estimates.  

The main export products are in manufacturing, medical equipment, wholesale, plastics and chemicals and computer systems design industries.

The full report, "SBA Research Sheds New Light On Small Business Exporters," can be found here.

The Midwest (USA) Is the Gateway to the World

©iStock/wellesenterprises

With a globally connected location and robust industry supply chain, the Midwest, in particular Michigan, is the gateway to the world.  In fact, $61.1 billion in total goods was exported from Michigan in 2022 alone. 

And while Michigan is home to many global corporations, the state’s small business community is actively involved in contributing to Michigan’s presence in the global market. Case in point: nearly 89 percent of Michigan exporters are small businesses.

Yes, that's right.  Small business exporters are driving growth for Michigan.  Check out how Michigan can help you grow your exports.

The Ever-Growing Small Business Export Market

©iStock/bugphal

Whether it's Mississippi, Massachusetts or Main, exporting is a great way to great your business.

"Businesses that export generally earn higher revenues, create more jobs, pay higher wages and are less likely to go out of business," [Arun] Venkataraman [Assistant Secretary of Commerce for Global Markets and Director General of the U.S. and Foreign Commercial Service, Jackson, MS] said. "My priority is to expand the pool of exporters to include (Mississippians) and diverse businesses."

Small business exporters are essential to building a robust, dynamic, and equitable economy," Venkataraman goes on to say. "We want to help support that effort."

Today in Global Small Business: Rewiring the Global Economy

©iStock/JaCZhou

What's affecting me, my clients, my colleagues and other global small business owners:

• The importance of global brand ambassadors (webinar on 3/8 - n/c).
• USA President Trump's plan to fuel small business growth.
• Can Xero, the cloud accounting provider, rewire the global economy?
• Weak dollar, strong dollar:  what it means for small business exporters.
• Will Canada lead the new global economy?
• How the World Bank sees stronger global economic prospects along the horizon.

Small Business Exporters Are Optimistic About the Future

©iStock/Michael Garner

Of the 800 plus exporters that Sydney, Australia-based Efic, an export credit agency, interviewed as part of their latest SME Exporter Index research, just over 40 per cent expected an increase in their overseas sales over the next 12 months, with one in five intending to launch new overseas operations within the next six months.

Sentiment
SME exporters continue to be optimistic about the future, with 37.6% of exporting SMEs either positive or very positive about growth in the next year, easily outweighing the 26.7% of combined negative and very negative SMEs.

Read more:  Helping small business exporters overcome financial barriers

SBA International Trade Finance Webinar

Learn about export loans available through the U.S. Small Business Administration and other global business solutions from our Federal Government. In addition, you will get tips from a small business exporter who has used these programs successfully to enter new markets and increase export sales.  Lastly, you will hear directly from an SBA lender on how to prepare in advance to get the financing you need to grow your export business.  Video can be found here or you can click on it above.

Do Small Businesses Benefit From the National Export Initiative?

iStock/Thinkstock

I've been wondering about this for some time. Do small businesses really benefit from the National Export Initiative? Every time a journalist/reporter asks me about it, I say the same thing: I am not so sure.

Has the number of U.S.A. small business exporters changed much over the last two decades let alone the last four months? I've tracked a number of anywhere from 240,000-270,000 SB exporters.

Anyone know what the current number is considering the BIG export push?

Please weigh in if you have the facts, thanks.

Read more here.

FYI: small business Boeing Chairman, President and CEO Jim McNerney is Chair of the President’s Export Council

SMB Exporters Exude Confidence About Their Companies' Future

iStock/Thinkstock

According to a survey commissioned by UPS, although concerned about the economy, small- and medium-sized business exporters are confident about their companies' futures, especially when it comes to international sales.

I've always felt that exporting and boldness go hand in hand.

"Entrepreneurs who export are self-assured, adaptable and resilient so it doesn't surprise me that the survey shows exporters are confident about meeting their business goals," said Laurel Delaney, owner of small-business consulting firm Global TradeSource, Ltd.

Yet many SMBs feel -- if only they could get started!

"Talking to current exporters reveals that for many small businesses, the most difficult thing about exporting is just getting started," said Dan Brutto, president, UPS International. "But with the administration's new export initiative, there's never been a better time for small businesses to give exporting a try. The right partner can serve as a bridge to help businesses ease into global trade and, in turn, find new revenue streams."

For complete results of the Business Monitor United States survey, visit http://ups.com/businessmonitor/us.

Did you know? UPS also offers tips and resources for small businesses looking to export at http://pressroom.ups.com/snapshotsforsmallbiz.

Immediate download (PDF) offering facts and tips on how to take your business global:
2010 Business Monitor United States fact sheet

Immediate download (powerful information -- worth a good long look):
2010 Business Monitor United States full report

UPS blog, UPSide here.

So, muster up that boldness (kitty cat confidence as shown in photo) and get exporting!

Posted by: The Global Small Business Blog

Exporting: The Dollar's Upside

iStock/Thinkstock

Boom time for small business exporters.

6 Questions For Your Global Shipper

iStock/Thinkstock

I wrote an article, "Leaving the Country" for PARCEL magazine that talks about the reluctance of small businesses to expand their businesses internationally and why. One of the key concerns that always rises to the top of the heap is: "How will I ship my product? I'm clueless."

That issue is addressed near the end of the article with six questions small businesses should ask to help find the right shipping partner.

No. 1: Are you familiar with my industry and the markets where I want to do business?

The article along with the other five questions can be found here.