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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.

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