Posted at 4:57 AM
Ninety-six percent of the world’s consumers live outside of the United States and represent two-thirds of the world’s purchasing power. U.S. companies that export enjoy business success with increased sales and profit potential. Exporting also helps businesses weather downturns in the domestic economy by being prepared to respond to foreign competition and global market trends.
Now is an ideal time for U.S. businesses to start or expand export operations.
U.S. businesses have a competitive advantage for producing high-quality, innovative goods and services with sound business practices.
Advancements in e-commerce and logistics have lowered the costs of doing business overseas.
Free trade agreements have opened up markets in Australia, Chile, Singapore, Jordan, Israel, Canada, Mexico, and Central America, creating more opportunities for U.S. businesses.
6 Steps to Begin Exporting
Business owners can access this information at http://www.export.gov/begin.
Step 1 Take the Free Export Readiness Self-Assessment
The online questionnaire assesses export readiness and provides advice on how to strengthen export potential.
Step 2 Training and Counseling
Depending on the assessment score, business owners will be directed to online and local counselors who can help design a training program to match their specific needs.
Step 3 Create an Export Business Plan
An export plan identifies any business constraints and sets specific goals and objectives as milestones to success.
Step 4 Conduct Market Research
The U.S. government’s Market Research Library provides the latest information prepared by U.S. embassies worldwide. Trade Stats Express is a powerful tool for identifying target markets.
Step 5 Find Buyers
Federal, state and local governments continually hold export events putting U.S. sellers and potential foreign buyers in direct contact.
Step 6 Investigate Financing
Financing, insurance and grant programs help small businesses manage or remove risk for both the business and its bank.