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Small businesses looking to increase sales and profit, reduce dependence on the domestic market and stabilize seasonal fluctuations should consider exporting. Consider these facts:
- Nearly 96 percent of consumers live outside the U.S.
Two-thirds of the world’s purchasing power is in foreign countries.
Here are six steps to help you begin exporting:
Step 1: Complete the Free Export Preparedness Questionnaire
Determine your business’s preparedness for exporting (https://business.usa.gov/export) and find useful info about exporting that can help grow your exporting business.
Step 2: Training and Counseling
The federal government offers free, in-person counseling services to help small businesses locate business opportunities overseas, understand shipping logistics and international payment options, and obtain financing for their export sales.. Located in major metropolitan areas throughout the U.S., these centers provide small and medium-sized businesses with local, personalized export assistance by professionals from the U.S. Small Business Administration, the U.S. Department of Commerce, and the U.S. Export-Import Bank.
- U.S. Export Assistance Centers
- The U.S. Commercial Service provides a network of export and industry specialists located in over 100 U.S. cities and 80 countries. These professionals provide free counseling and a variety of services to assist small and midsized U.S. business with their international marketing efforts. Contact a Trade Specialist Near You
Take our online training course on exporting to help determine if exporting, as a business strategy, makes sense for your small business and whether the basic ingredients for export readiness are in-place.
Watch videos about how to plan and become export ready and prepare your small business for international success. (https://www.export.gov/article?id=Get-Ready-to-Export)
Step 3: Create an Export Business Plan
Creating an export business plan is important for defining your company’s present status, internal goals and commitment. You will learn how to develop an export plan by assembling facts, identifying constraints and setting specific goals and objectives as milestones to success.
Step 4: Conduct Market Research
Use Market Research () to learn your product’s potential in a given market, where the best prospects exist for success, and common business practices. The Country Commercial Guides () are the latest information prepared by commercial and economic experts in U.S. embassies worldwide. Trade Stats Express is a powerful tool for identifying target markets.
Watch videos to learn more about how to plan your market entry strategy. ()
Step 5: Find Buyers
Federal, state and local governments are continually organizing highly focused export events directly putting U.S. sellers and potential foreign buyers in direct contact. Opportunities range from meeting foreign buyer delegations at select U.S. trade shows to signing up for a foreign trade mission or trade show overseas.
Step 6: Investigate Financing Your Small Business Exports, Foreign Investment or Projects
Become familiar with SBA’s export loan programs and other federal government financing, insurance and grant programs () to help your company finance its transactions and support your export operations. These resources help small businesses ensure foreign payment and manage or remove risk from the equation for both the business and its bank.