To most small business owners, adding a new market their sales strategy seems to them as moving into a different part of their home state, or probably crossing the border into a neighboring state.
However, most local, state and federal government are seriously motivating these small companies to do bigger and are also encouraging them to start exporting. Considering the USA for example, 95% of the world’s population and two-thirds of the global purchasing power is outside of the country, hence it has become a wise step to venture into exporting. Only 1% of the country’s 30 million businesses are now exporting.
Currently, in Dublin, Ohio, the city’s economic development office has been promoting the idea amongst local merchants to consider exporting internationally. They send team members who meet up with business leaders to educate them on the advantages of international business, and they also help in connecting them with an organization to get them started.
According to Rachel Ray, an economic development administrator with the city, it is sensible to explore the opportunities your company can have internationally and what resources may be available to help you go after them.
In 2014, statistics showed that U.S exports of goods and services reached an all-time record of $2.3 trillion. A study carried out by small business administration also proved that despite this record, international trade makes only 30% of the U.S economy. This means that there is still enough opportunity for growth.
Below are companies and resources that are available to enable small business owners to gain international customers through autonomous marketing.
U.S. Export Assistance Center:
Every U.S Export Assistance Center is led by a professional belonging to one of the following: Small Business Administration, Department of Commerce, Export-Import Bank and other public and private organizations. Their major goal is to help small and medium-sized business to compete in today global marketplace by providing export assistance. The staff provides information concerning internal laws, tariffs, and banking, among other things.
The International Trade Administration is in charge of running Export.gov which mission is to assist U.S. businesses in planning their international sales strategies. This website possesses tools that can enable businesses to tap international markets.
Market Development Cooperator Program:
The Market Development Cooperator creates or gives financial and technical support from the international trade administration to projects that support U.S. companies to export
Overseas Private Investment Corp:
This agency mission is to help American businesses to invest in emerging markets. The Overseas Private Investment Corp supports businesses with tools that can help them manage the risk associated with foreign direct investment.