Small Business, Big Trade
SCORE, the nation’s largest network of volunteer expert business mentors, has gathered statistics indicating small business’ predominance in the United States export market.
Small businesses make up 97% of U.S. exporters and are steadily gaining a more proportionate revenue share:
- In 2002, only 27% of revenue from U.S. exports went to small businesses.
- By 2014, that rate had risen to 33%.
International trade is a key driver of small business success:
- U.S. companies that export grow faster and are nearly 8.5% less likely to go out of business than non-exporting businesses.
- 26% of companies that trade internationally significantly outperform their market.
Small businesses export to:
- Grow sales and profits.
- Diversify and expand customer base.
- Increase stability in light of U.S. economic challenges.
On average, becoming an exporter takes less than a year:
- 48% of businesses reported that it took a few weeks to launch their exports.
- 25% reported a few months.
- 11% reported several months.
- 7% reported a year or more.
Less than 1% of America’s 30 million companies export their products and services; 63% of non-exporting small businesses expressed the following concerns:
- 39% say their goods are not exportable.
- 37% don’t know how to start.
- 24% worry about not getting paid.
- 24% cite regulatory barriers.
- 15% say it will disrupt domestic sales.
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