My last post explained the reasons why companies stay domestic. The domestic market is sometimes challenging enough, or maybe there just isn’t the time or expertise to create and execute an export plan. Some companies are worried about the risk, so why should you export? Going global is a big step, but can be worth it! Here are 8 reasons why you should export:
1. Exporting broadens the marketing base.
2. It’s a great way to extend the life of a product.
3. You want to establish a presence in the international market.
4. Competitors have gone international so you need to go international to stay competitive.
5. Extra inventory that isn’t selling in your domestic market can earn a profit in the international market.
6. It can enhance your companies image to be seen as more progressive.
7. Exporting can help protect your company against domestic market swings and business cycles.
8. Penetrating trade barriers can help enter markets you wouldn’t be able to enter otherwise.
Do any of these sound like reasons why you want to export? Going international is a great next step for many companies. If you are still a little hesitant or think you can’t handle exporting alone, there are organizations that can help! The U.S. Small Business Administration has many resources to help those small businesses export. They offer loans, grants, help with contracting and training. For bigger businesses, or information on exporting opportunities and solutions, check out export.gov. The International Trade Administration has great programs and market data and analysis available for your use. For general country information on geography, society, government, economy, communication, transportation and military, go to the CIA World Factbook. Take advantage of these great resources to go global and export! Are there any other websites you like to use to do market or country research?