Happy National Small Business Week! Since 1963, this week is dedicated to recognizing the crucial contributions of small business owners and entrepreneurs. During National Small Business Week, the U.S. Small Businesses Administration highlights the success of small business owners and their impact on driving innovation, creating jobs, and increasing American competitiveness. Over 50% of Americans either work for or own a small business. Further, small businesses are responsible for creating two of every three new U.S. jobs (Small Business Administration).
Small and medium-sized enterprises are both drivers of growth and active exporters. According to the International Trade Administration, the majority of U.S. companies that engaged in trade in 2015 were SMEs. The data indicates that SMEs accounted for 98% of goods exporters and 97% of goods importers. However, their share of trade is smaller than that of larger corporations, and they accounted for only a third of U.S. goods trade.
In 2015, SME exports increased in a handful of top 25 U.S. markets, including Belgium, Switzerland, India, and Chile. However, the ITA strongly believes that many small and medium-sized companies have untapped potential and would benefit from expanding their export sales to additional markets. At Mercatura Global, we help facilitate the export process for SMEs by providing market entry strategy development, overseas partner identification, and international business incubation services. Grow your sales through exporting by contacting Mercatura Global today.