According to the U.S. Small Business Administration, 96% of consumers live outside of the U.S. This means that the market for selling goods internationally presents a valuable opportunity for your small business.
Why Your Small Business Should Export
Expanding into the international market can feel daunting since it’s such a big step for small businesses. But the benefits that exporting provides can give your business the boost it needs to grow. If you’re deciding whether your business should begin exporting, here are some reasons to get started:
- Less dependence on local markets: When your business only operates in the U.S., its success is largely impacted by national and local market success. Expanding into the global market gives your business more stability as local markets fluctuate.
- Enhanced competitiveness in local markets: When there are other businesses like yours in your community, it’s important to find ways to set yours apart from competitors. Expanding your market and establishing international reach can improve your business’s credibility and reputation to help it stand out.
- Greater ability to provide jobs: As your small business expands, you’ll need more hands on deck to keep up with the increased demand. This is the perfect time to hire new team members, enabling you to contribute to your community’s job market.
- Online platforms make it easy to access international markets: By maintaining a social media presence and a well-organized website, your business is already on the path to connecting with consumers throughout the world. Your business’s social media accounts can help international customers discover your business and become interested in its offerings. Your website can easily transition into an online shop for consumers anywhere to make purchases. Email marketing allows you to stay in touch with customers about their shipments and continue building relationships with them after their orders are complete. When you bring your business online, its reach and opportunities grow significantly.
- Increased profits: The more consumers you can reach with your products, the more money you’ll bring into your business. Shipping internationally at low costs makes it possible for your small business to see more money coming in.
- Many organizations offer resources to support small business exporting: There are many resources available at the local, state, and national levels for small businesses that are looking to export. Such resources can help small businesses get the funding they need to export, establish themselves as exporters, and acquire the knowledge and tools they need to succeed in exporting.
How Lendistry Supports Small Business Exporting
Lendistry has partnered with the International Trade Administration to support small businesses that wish to enter the international market. Learn about accessing capital to begin exporting and the basics for getting started on our partnership page.