Why Export?
Entrepreneurship Foundation News, Lending News | 03/11/2015
Last week we provided a small business guide to exporting and tips on how you can get started with exporting. If you missed the article, click here to read: Small Business Guide to Exporting. Continuing this week on exporting, you might be asking why it is important to export or where you can find out more about exporting. Below, the U.S. Small Business Administration offers these eight reasons to export:
- Decline in the exchange rate of the dollar is resulting in increased purchasing power in many export markets
- The U.S. has manufacturing capacity and lots of workers available
- Costs for transportation and communication have dropped
- Trade barriers have been reduced
- Exporting can increase sales and profit
- Increase market and reduce dependence on domestic markets
- Extend the sales potential and product life of existing product
- Stabilize seasonal market/sales fluctuations.
Expert Export Resources
In addition to contacting your local SBDC for help, here are seven other resources to help you get on board with exporting:
- Each SBA district office has an International Trade Officer that can help with trade financing.
- Check out Export Basics from the U.S.SBA for export readiness support.
- www.export.gov offers resources from across the U.S. government for market research, trade leads and information about export finance.
- U.S. Export Assistance Centers (USEACS) are located in more than 100 cities nationwide and can help to connect you to the export resources that can help you be successful.
The SBA has three loan programs to help small business build export capacity. They are:
- Export Working Capital Program for capacity building to support sales,
- International Trade Loan Program for businesses that plan to export, and
- Export Express that helps businesses expand their export sales.
If you’re ready to apply for a business loan now, click here to contact us. To learn more information on small business loans and to find the one right for your business, visit the loan products page.