By Rieva Lesonsky
Do you export? If not, now may be the ideal time to get started. And if you’re already exporting, think about expanding your reach to more countries.
The White House’s National Export Initiative (NEI) is ramping up. In February, as The Wall Street Journal reported, key federal agencies involved in exporting visited cities nationwide to encourage small companies to export. The agencies, including Commerce, the Small Business Administration, Export-Import Bank and the United States Trade Representative, are working with local government and nonprofit agencies to get smaller companies the help and information they need to start exporting.
Currently, just 1 percent of U.S. companies export, and of those that do, 58 percent export to only one country. The NEI is seeking to help small companies get assistance and financing that will give them the confidence to expand or start their export efforts.
The Obama administration sees exporting as a potential source of job growth. According to the White House, the NEI aims to double U.S. exports over the next five years by “working to remove trade barriers abroad, by helping firms — especially small businesses — overcome the hurdles to entering new export markets, by assisting with financing, and in general by pursuing a Government-wide approach to export advocacy abroad, among other steps.”
Exporting can be a great way to grow your business; I know many small business owners whose companies’ sales exploded after they began exporting. But doing it yourself can be challenging, what with regulations, red tape, distance and worries about getting paid by far-off partners. That’s why I urge any company who sees potential in exporting to check out the services the NEI can offer.
You can find out more about the NEI and links to assistance and related agencies at the NEI website. You can also read about small companies that got help with business matchmaking, finding financing, getting export credit insurance and other common issues that keep small companies from growing overseas.
Image by Flickr user Valerian Rossigneux (Creative Commons)
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