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Small Business, Big Trade [INFOGRAPHIC]

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Did you know that 97% of U.S. exporters are small businesses? This according to a report from SCORE. where it gathered statistics indicating that small businesses are the main players in the United States export market.

Here are some interesting statistics:

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 one percent 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.

 

About Gresham Harkless Jr.

Profile photo of Gresham Harkless Jr.
Gresham Harkless is a Media Consultant for Blue 16 Media and the Blogger-in-Chief for CEO Blog Nation. CEO Blog Nation is a community of blogs for entrepreneurs and business owners. Started in much the same way as most small businesses, CEO Blog Nation captures the essence of entrepreneurship by allowing entrepreneurs and business owners to have a voice. CEO Blog Nation provides news, information, events and even startup business tips for entrepreneurs, startups and business owners to succeed.
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