Page 19 - Women's Yellow Pages (2019)

Information obtained from www.pittsburgh.score.org
Are you looking for a way to grow sales at your small business, diversify your operations
and be part of an increasingly global future? Then consider joining the thousands of
small businesses that sell their products and services internationally.

A whopping 80 percent of small and midsize businesses that sell globally say their revenues are
up compared to one year ago, a survey by American Express reports. Companies surveyed say
international trade accounts for about one-fourth of their annual sales. In addition, over three-fourths
(76 percent) expect their international sales to grow in the next five years, by an average of about 30
percent. And nearly 40 percent plan to increase their international sales efforts in the next six months.

The decision to take your business global may arise from a well-thought-out strategy or simply an
unexpected opportunity. Whichever path you take, selling internationally is a smart move. Expanding
your market globally can help insulate your small business from economic ups and downs here at home,
providing more stable income.

Are you interested in exploring international trade? Here are some tips for success:
Start close to home. More than four in 10 companies in the American Express survey concentrate
their sales efforts on Mexico or Canada. Choosing an international market that’s relatively close
geographically, one with a similar culture and business climate, and one with a high percentage of
English speakers will make your first attempts at international trade much easier. Doing business in
China or India, on the other hand, introduces more difficulties, unless you already have connections in
those countries.

Choose the right trading partners. It’s important to select your vendors, partners and customers wisely
when first getting into international trade. Make sure to meet potential partners in person. Investigate the
background, reputation and reliability of any company you’re considering doing business with. The right
connections can make all the difference.

Educate yourself. Learn all you can about the marketplace, culture, customs and business practices
of the international markets where you want to do business. You can get information online, from your
networks and contacts, from market research, and from publications or websites covering international
trade.

Get help. Entering the global marketplace is a lot easier if you have experienced assistance at hand.
American Express has a program, Grow Global, that provides resources and networking opportunities
to both novice and experienced small businesses involved in international trade. You can also get
help online at Export.gov, which provides market research, advice and tools for U.S. exporters. And at
Alibaba, an international marketplace, you can find global suppliers and trade with confidence using their
Trade Assurance program. There’s also a lot of information from Pitney Bowes about global trade and
how to make sure you get your merchandise from one country to another.

Finally, don’t forget about the business experts at SCORE. They can help you decide if exporting
is right for you, conduct market research and develop a plan for international success. Visit
SCORE.org to get matched with a mentor today.

* - Women-Owned Business
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