VII Capital Funds International Sales

When small business owners think about adding new markets to their sales strategy, often they are considering moving into a different part of their home area or perhaps crossing the border into a neighboring country.

Local, state and federal organizations would like small companies to think bigger, however. They are encouraging them to consider exporting. Given that 95% of the world’s population and two-thirds of the global purchasing power is outside of the United States, it’s a proposition worth considering. Currently, less than 1% of our nation’s 30 million businesses are exporting.

It just makes good business sense to explore what opportunities your company could have internationally and what resources might be available to help you go after them. Many of the programs are free and some reimburse businesses for their expenses.

U.S. exports of goods and services reached a record $2.3 trillion in 2014, according to a Small Business Administration study of the impact of international trade and small businesses. Yet, international trade only makes up 30% of the U.S. economy — meaning there is plenty of room for growth. Especially considering that while totally exports have grown 44% since 2009, the pace of growth has been slowing in recent years.

The opportunity to sell internationally can increase customer base, helping protect a company from U.S. economic downturns, and reduced market risks through diversification.

The following is a sampling of organizations and resources that are available to help small business owners pursue international customers:

U.S. Export Assistance Center: Each U.S. Export Assistance Center is staffed by professionals from one or more of the following: Small Business Administration, Department of Commerce, Export-Import Bank and other public and private organizations. Together, their mission is to help small- and medium-sized businesses compete in today’s global marketplace by providing export assistance. The representatives can provide information about internal laws, tariffs and banking, among other things.

Export.gov: The International Trade Administration manages Export.gov to assist U.S. businesses in planning their international sales strategies. The site offers business tools to help businesses tap international markets.

Market Development Cooperator Program: Offerings from the Market Development Cooperator Program include financial and technical assistance from the International Trade Administration to support projects that help U.S. companies to export.

Overseas Private Investment Corp.: This U.S. agency helps American businesses invest in emerging markets. The Overseas Private Investment Corp. provides businesses with the tools to manage the risks associated with foreign direct investment.

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