Exploring New Markets - Export

Exploring New Markets: Many thousands of small firms are already in the global market. Yet small  firms still represent the largest pool of potential exporters - companies  that could export but do not. Small firms already account for almost a quarter of all exporters, and survey results show substantial export growth potential for this size firm. This should encourage smaller companies to consider the global arena.

Entering the overseas market does not have to be difficult. The same basic strategies applied in the U.S. market can be used in exporting.  Selling abroad requires hard work, perseverance, and a commitment of resources. It requires planning, market research and attention to detail.  It may also involve changes, like new packaging and metric conversion. The mystery can be taken out of exporting by considering some of the fundamental elements of the export process:

• analyze the capabilities of your small business;
• know the export potential of your product/service;
• locate the foreign markets that are right for you;
• study market entry strategies and export procedures; and
• learn how to process exports.

• increased growth;
• increased profits;
• additional markets;
• extended product/service life cycles;
• increased number of customers;
• tax advantages;
• added product/service lines;
• improved competitiveness; and
• favorable publicity and recognition.