If you are looking to export you have probably asked yourself the question, “Is it worth all the effort?”
Exporting can be one of the best ways to grow your business:
- Grow your bottom line (companies that export are 17 percent more profitable than those that don’t).
- Smooth your business cycles, including seasonal differences.
- Add management and intercultural expertise.
- Use production capabilities fully.
- Defend your domestic market.
- Increase your competitiveness in all markets.
- Increase the value of your intellectual property should you choose to license it.
- Increase the value of your business should you choose to sell it
With the volume of trade growing exponentially and barriers to trade falling, competition in a company’s domestic market is intensifying, particularly from foreign competitors. We need to compete in our own backyard while we simultaneously open markets for our products and services in other markets:
- Ninety-five percent of the world’s consumers live outside the United States. That’s a lot of potential customers to ignore.
- Foreign competition is increasing domestically. To be truly competitive, companies must consider opening markets abroad.
- Exporting is profitable.
- Exporting helps businesses learn how to compete more successfully.
With this significant projected growth in global trade, fueled in large part by newly affluent consumers in China, India, and other developing economies, the challenge for businesses of all sizes in the United States is how to dip into this incredible revenue torrent. A Basic Guide to Exporting aims to help prime your pump.