Thinking About Exporting Oversees?
Inc.com - 07/18/2011
Since last year the Obama administration has been pushing small businesses to venture into global markets, part of an ambitious goal to double U.S. exports by 2014. For small businesses struggling to find new customers domestically, markets outside the United States may be a better bet now, with a weak dollar making exports a good deal for foreign customers. Yet only about one percent of small businesses export, says Fred Hochberg, chairman and president of the Export-Import Bank of the U.S., the Nation’s export credit agency, which provides loan guarantees and insurance for exporters. The percentage is low because exporting can be complicated. Small businesses must navigate international tariffs, regulatory agencies, language barriers and take the riskâespecially in less stable countriesâof simply not getting paid.