The international marketplace offers a world of business opportunities for companies seeking to sell or source products worldwide. Not only can you tap into a world marketplace of 6.2 billion people, but according to business.gov, companies that do business internationally grow faster and fail less often than companies that don't. So why not take advantage of all that international trade has to offer?
How you can take advantage of the new export opportunities
- Increased sales and profits. If your business is succeeding in the U.S., expanding globally will likely improve overall profitability and increase productivity.
- Short-term security. Your business will be less affected by fluctuations in the U.S. economy and marketplace.
- Long-term security. The U.S. is a large, mature market with intense competition from domestic and foreign competitors, so international business trade may become a necessity if you want to keep up in an increasingly global marketplace.
- Increased innovation. Extending your customer base internationally can help you finance new product development.
- Economies of scale. Exporting is an excellent way to expand your business with products that are more widely accepted around the world.