Small Businesses Poised to Drive Economic Growth Through International Expansion UPS Survey Shows U.S. Smalll Businesses Can Seize Opportunities with Lessons Learned from Exporting Peers Athough concemed abot the economy, smal busines exporters appear confident about their campanis' futures — especially wien it comes to itemational sles, according to tis years Business Monitor United States (BMS), a survey of American smal business exporters cammissoned by UPS. The suvey offers small business exports’ perceptions on the outlook of global ade, the effect of slobal expansion on small and madium-sied businesses” (SMBs) bottom line, and interational threats and opportunites With the president’ recent announcement af a National Export native, its more imptant than ever to undetstand the pin pons of smal busines expats. By adtesng those pain points, we can help them be even more elicient and productive — thereby helping them better compete in today global business environment Exporting SMBs are Resilient {MUS data sowed the esiency of SMBS tat are engaging in global race — which i cute ompelingconsiering the tat ofthe aba economy. Specially, these SMBs Have seen a significant impact on their overall sales (35 percent) + Aren't worried about achieving thelr goals (32 percent) + Feel they‘e cunning their business efficiently (46 percent) ‘SMBs Who Export Have a Plan The suvey found that most small businesses (61 percent) expanded into foreign markets with 2 sound plan, and only 2 few (11 percent) reported having frustration with doing business abroad Tips for SMBs How to Expand Your Business Internationally Don’t Go It Alone. There are plenty of organizations, suchas the US. Commercial Servic (buyusa gv) that have programs and services to help smal business cwnets locate potential business partner such as buyers or distbutors overseas. I'5 also a good idea to explare new sources of financing frm the Expr Import Bank of the United States (exim.gov) or the Small Business Administration (sba gov) UPS aso offers lines of creit and a service that speeds and guarantees payment from importers. Do Your Homework. Go online for guidance on topics including training, financial opportunities and possible partnerships. Resources include the US. governments expot portal (export. gov) and the Small Business Administration’ Ofice af international Trade. The US. Commercial Service oes county-by-county commercial gues (buyusa.gov) and Laure Delaneys Global TradeSource, Lid, afflers important insight and practical advice to help small businesses go global (globetiade com). Seek Help Understanding Complex Customs Regulations. Complex customs can intimidate anyone, but customs technicalities should not prevent small businesses from going global Work witha partner who understands how to navigate rade logistics around the world Several organization, such asthe International Trade Administration (ade. gov), can provide small businesses advice, tools and technology that makes it even easier for small businesses to reach new marketsLooking Beyond BRIC MUS data showed more tht one-third (36 percent) of respondents preferred Europe asthe Cantinent they would mos like to expan to inthe future. ‘SMBs Still Have Trust Concerns When it comes to inisnatonal sales leads fou in five busineses (81 percent) follow up on all leads. Those that id folow up say that trust sues (67 percent) wee their biggest concer, Wye tow up one rar ee ‘ttre Exporting Helps Drive Sales ‘More than one-third (35 percent) of small businesses said exporting had a significant impact cn tei oer ses, et pg sg Social Media: An Underleveraged Opportunity? Despite the eteprencui natu of smal business owners, the BMUS revealed they may ‘not be making the most of social media. About one-quarter (24 percent) of respondents say. they've received sales leads from social media, far behind word of mouth, networking events, sponsotships and averting And, ut I percent cited asthe act ha, Desies marketing Communication, helped thei: business grow the mast aia apt er copay ome net? care tng Make an Informed Decision. Unless you offer a niche product or service that cannot be marketed outside the United States, itis important to know yout global ‘options to remain competitive. Read up an international trends, and learn from other small businesses that are going global Publications suchas The Economist, The Financial Times and Inc, are good resources, as are UPS's Snapshots for Small Businesses, resouice guides designed to provide insights and advice on going global. Snapshots for ‘Salt Businesses can be found at ptessroom.ups.com/snapshotsforsmllbiz, “Fateprenews who export are sessed, adaptable and resent —o it does suprise ‘me tha the survey shows exporter are confident about meeting ther business goal.” Leute Delaney, owner of smal business consulting fim Global TradeSouce, Le “Social media is one of he biggest marketing ‘opportunites for small business today — nothing else oes such targeted exposure {or such minimal costs The BMUS data indicates to me that businesses arent pursuing socio! medio opportunites as vigorously 2s they shou.” Jim Beac, founder of The Entrepreneur Schoo}, an online educational program esigned forthe specific needs of enlrepreneuts “ith 96 percent ofthe worlds consumers ‘ving beyond US. borders, American smal ‘usinsses that don’ go global today will ‘be playing catch up tomorrow. We need to ensure SMBs have acess fo the resources, technology and supply chain sluions they ‘need to beter compete in today’ global marketplace.” ‘Dan Butta, president, UPS International