The battle between facts vs. myths has always existed and that will never change. However, in order to make sure the facts are being heard and supported, it’s important to discuss them periodically. In the business world, common “negative” myths about exporting are ubiquitous, but below, we’ve decided to break down these myths and give you a quick snapshot of the new reality:
- Exporting is too risky
The new reality: Exporting to some markets, such as Brazil, is no more risky than selling in the United States. Any risk can be identified and reduced through affordable assistance now available through the Commerce Department, the Export-Import Bank of the United States or your local Chamber of Commerce.
- Getting paid is cumbersome and I’ll lose my shirt
The new reality: Trade finance and banking have evolved to the point where selling things internationally is routine, safe and efficient.
- Exporting is too complicated
The new reality: Most exporting requires minimal paperwork. Researching markets and finding buyers can be done through the Commerce Department, the Export-Import Bank of the United States or your local Chamber of Commerce department.
- My domestic market is very good.
The new reality: Few markets remain static. To remain truly viable most companies must recognize it’s a global marketplace.
- I’m too small to go global
The new reality: Not true. Even 10 years ago, nearly 42 percent of all U.S. exporters had fewer than 19 employees.
- My product or service probably won’t sell outside the U.S.
The new reality: If it sells here, chances are it sells elsewhere. Plus, help is available to test its acceptance in more than 100 countries.
- I won’t be successful because I don’t speak another language and have never been abroad.
The new reality: Cultural knowledge is always helpful, but you can learn as you go. English usually is enough in the business world and help is ready available for situations in which interpreters and translators are necessary.
Are you a small business person thinking about exporting to international markets because you’re looking for new revenue streams? Take a look at our “7 Exporting Takeaways from the 2016 Small Business Exporting Survey” blog which breaks down the most important takeaways from the latest small business domestic survey.
Note: the information above is credited to the Metropolitan Milwaukee Association of Commerce’s World Trade Association