Have you considered exporting?
Exporting brings new profits for business of all sizes and for the region. Exports lead to increased investment, technological advance and import expansion, all of which contribute to economic growth.
- More than 95 percent of the world’s consumers are outside of the United States.
- On average, sales grow faster, more jobs are created, and employees earn more than in non-exporting firms.
- Most companies that export have an easier time riding out fluctuations in the USA economy and are more likely to stay in business.
- Many USA exporters are paid by wire transfers in advance or under letters of credit resulting in a drastically improved cash ﬂow versus domestic sales.
- Your company can take advantage of the strong USA “brand” to win big in global markets
- Exporting could lengthen the product’s lifecycle by developing new customers in emerging markets
- Exporting allows you to sell to other markets that are complementary to your domestic customers’ seasons
What are the qualities of an export- ready business?
- Have commitment from ownership and are prepared to fund exporting activities
- Understand the added demands international business can place on key resources
- Have realistic expectations regarding return on investment from international activities
- Are prepared to modify products and services by market as well as provide training and after-sales service
- Be willing to work with government export promotion agencies.
How do I know if my business is export-ready?
You may want to start by asking if you already have an established and profitable domestic market for your product or service, your company is financially stable with at least 3 years of profitability and your product or service offers significant competitive advantages in terms of prices, features and/or benefits.