If you are a frequent visitor to the Export-Import Bank of the United States (EXIM) blog, then you know we are passionate about educating our readers on the benefits of exporting, a vehicle that delivers growth and opportunity to your business. In fact here are 5 Reasons You Should Export, but here is one more compelling fact to consider if you are not exporting - what’s stopping you?
U.S. Export Growth Since 1970
U.S. exports have grown steadily on an annual basis, from 1970 when export values were $59.71B to $2.12T in 2020.
Recently, the U.S Commercial Service reported U.S. exports of goods and services reached a record high of $260.8B in June 2022. With trends indicating export growth will continue, there is no better time to start exporting than now.
Businesses that export are more likely to:
- Grow their bottom line
- Increase the overall value of their business
- Eliminate seasonal differences in your business cycles
“I would recommend to everyone that has a business and has things that can be exported to try and do so, because it will help one grow and will help one really become bigger, faster, stronger” said Dr. Birnecker-Hart, during an interview where she highlights the history of Koval Distillery and the advantages to exporting.
Made in the USA Equals Opportunity
“Made in the USA” products are highly sought after throughout the world. When international consumers see American made products, they know it’s going to be a quality product. BuzzBallz CEO/Owner Merrilee Kick grew her business by exporting her products and is anticipated to exceed $100M in revenues this year. “When you go overseas, they love American goods. Made in the USA, here we come” said Merrilee Kick when asked what advice she would give to those who were uncertain about exporting.
In a recent survey conducted by the National Small Business Association (NSBA) & EXIM, the following question was asked: What do you consider the main barrier to selling your goods and/or services to foreign customers? 45% of all respondents answered they don’t know much about it and not sure where to start. Exporting doesn’t need to be hard, there are numerous resources available to help you get started. If you are new to exporting or just need assistance on where to start, EXIM’s regional directors are available to help point you in the right direction. To request a free consultation, visit: https://grow.exim.gov/consultationrequest