There are many reasons to consider exporting your products or services.
Global Community
The U.S. is the world’s third largest exporter, with exports of $1.6 trillion. Exporting is not just for giant corporations, as 98% of exporters are small- to medium-size companies.
Increased Demand
Ninety-five percent of the world’s consumers and 70% of the world’s purchasing power is outside of the U.S. Imagine if you decided to sell your products in Virginia and Washington state, but nowhere else in the U.S. That is what selling only domestically is like.
Improved Access
Trade finance, trade agreements and the internet have made exporting internationally easier than ever. A small business can compete globally, just as multi-national corporations do.
Risk Mitigation
Companies are better able to ride out fluctuations in the U.S. economy and are more likely to stay in business when they export. Foreign countries might be ripe markets for existing products that have saturated the domestic market.
Offset Seasonal Slumps
When it's summer here, it might be winter there. Global markets can help even out seasonal domestic purchasing cycles to create more stable annual sales.
Capacity Utilization
Increased sales and a stable sales pattern may mean you can put idle production capacity to work. Leverage your fixed overhead costs to do more with what you have invested in.
Competitive Advantage
The U.S. is known worldwide for high quality, innovative goods and services, customer service and sound business practices. Being based in the U.S. tells international customers and partners that you play by the rules and can be trusted to do what you say. Use this to your advantage when competing globally.
Spurred Growth
Research shows companies grow and innovate more quickly as a result of exporting. Diversification of sales markets is one reason. However, the knowledge gained from exporting to different countries will help companies adapt their products to specific markets and learn about global sales trends. Your domestic sales will likely increase as you become more globally aware.
