Exporting can create a whole new playing field of opportunity for small businesses. Nearly 96 percent of consumers live outside the U.S. and two-thirds of global purchasing power is in foreign countries, according to the U.S. Small Business Administration (SBA). Yet fewer than 2 percent of U.S. businesses export.
It’s not that exporting is hard as much as it is intimidating. To get past that hurdle, small businesses need an export business plan to evaluate their export readiness, goals and commitment levels.
A business that's ready to export should be successful in its domestic operations, sensitive to cultural differences in doing business, and willing to commit the necessary time, staff, and financial resources to achieve long-term goals.
A plan should also identify exporting pros and cons: Common benefits are increased sales and profits and reduced dependence on existing markets. Trade-offs can include modifying products and acquiring additional financing.
Read more: Forbes
The Michigan Chamber of Commerce supports exporting through the CertifyMichiganTM program, which provides electronic Certificate of Origin services through an online portal that is secure, simple and fast. You can trust the Michigan Chamber to serve your export documentation needs.