Exporting to a Single Market? It's a Big World Out There.

June 02, 2016

Many U.S. based small businesses are only exporting to a single market, typically an international market where they have personal ties or where they are closely allied with local distributors. In fact, respondents to the National Small Business Association (NSBA) and Small Business Exporters Association (SBEA) 2016 Small Business Exporting Survey ranked Canada, Mexico and the UK as the top three countries to which they export. When asked to rank the top emerging markets for exporting, however, their responses included Northern Asia & Pacific Rim (China/Japan/Taiwan), South America and Western Europe. Sure, adding new foreign markets to your portfolio may put you out of your comfort zone, but it also provides a hedge against a downturn in one geographic area and drives multiple streams of revenue.

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