​Do You Have An Interest In Exporting?​

Small businesses looking to increase sales and profit, reduce dependence on the domestic market and stabilize seasonal fluctuations should consider exporting. Consider these facts: 

• Nearly 96 percent of consumers live outside the U.S.
• Two-thirds of the world’s purchasing power is in foreign countries.

Today, as noted by Export.gov, it’s easier than ever for a company like yours, regardless of size, to sell goods and services across the globe. Small and medium-sized companies in the United States are exporting more than ever before.
In 2013, for example, more than 300,000 small and medium-sized U.S. companies exported to at least one international market—nearly 28 percent more than in 2005. The value of goods and services exports was an impressive $2.28 trillion, nearly a 25 percent increase since 2010. And 2014 topped the previous year, with exports valued at $2.34 trillion.
The following list is of sales channels are available to global trading partners active in the export process,
Sales channels can include:

• Direct to end-user
• Distributors in country
• Supplier to the U.S. government in a foreign country
• Your e-commerce website
• A third-party e-commerce platform where you handle fulfillment
• A third-party e-commerce where they handle fulfillment
• Supplier to a large U.S. company with international sale
• Franchise your business. 

You are not limited to one of these channels. As it is also noted in the Export.gov study, today’s global trading system is ideal for the smaller company employing more than one marketing and sales channel to sell into multiple overseas markets. But most U.S. exporters currently sell to one country market—Canada, for example. And the smaller the company, the less likely it is to export to more than one country. For example, 60 percent of all exporters with fewer than 19 employees sold to one country market in 2005.
Tips For Potential And New Exporters
In a recent report from Shipping Solutions, these seven tips will provide helpful guidance for businesses new to exporting:
Tip #1 – Make a Commitment
Businesses new to exporting can expect to face numerous challenges such as redesigning packaging or establishing a new distribution channel. 



Tip #2 – Do Your Research
To be successful overseas, do some research on potential markets. Which countries have the lowest duties? Write an international marketing plan, which addresses a range of potential issues such as unique labeling requirements.
Tip #3 – Focus Your Efforts
For example, first-time exporters in Minnesota often target Canada as the first international market to enter. The proximity of Canada and the benefits of the reduced North American Free Trade Agreement (NAFTA) tariffs are advantageous for new Minnesota exporters ramping up on their export knowledge.
Tip #4 – Set Aside Resources
Entering new markets requires resources—primarily time and money. Companies in the best position to export already have an established track record of domestic growth and a steady revenue stream. For many companies, gearing up a business to export means having to reallocate resources from domestic business opportunities.
Tip #5 – Increase Your Company’s Export Knowledge
Look for opportunities to develop and expand the export knowledge of your staff. Work toward credentials to ensure you develop a baseline of skills. For exporting companies, encourage staff to attain the Certified Global Business Professional credential. 

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