Removing Obstacles That Prevent Small Firms From Seizing Global Opportunities

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The Federation of Small Businesses (FSB) has revealed its SME Export task force – a transformative blueprint designed to remove the obstacles that prevent small firms from seizing global opportunities.

Despite their agility, only 10 percent of small firms trade internationally. Imagine economic growth if we could double that figure.

It’s time for small firms to take their place on the global stage – backed by a supportive framework designed solely for their success.

Gear Up For Globalization: Answers From Real People

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Question from:

Laurel Delaney, Founder and President, GlobeTrade:

"Do you think Ex-Im Bank will cut back or be more willing to extend loans to SMEs (that qualify on exports) this year in light of a possible recession?"

Answer from:

Chad Moutray, Chief Economist & Director of Economic Research, U.S. Small Business Administration, Office of Advocacy:

"Small businesses are increasingly sophisticated global players who are able to spot opportunities, whether these are found in their local communities or across the globe. The depreciated dollar has given entrepreneurs -- many of whom had not looked at the export market before -- a golden opportunity to pursue sales abroad."

Regarding the possibility of a downturn, Moutray referred us to this study (be prepared for an immediate PDF file download) by Craig and Kohlhase that had been released in December 2006. Note the research summary's overall finding: "Small firms play a vital role in maintaining economic growth in urban areas."

Moutray does not follow the movings of the Ex-Im Bank so there was no comment on the loan policy.

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Add on from LD (1/26/08): Interesting "definition" of Export-Import (Exim) Bank at Answers.com.