Is your business looking for ways to grow? Have you thought about selling your products to other countries? Many business owners think exporting is too hard or only for big companies. That’s not true! At Seymour International Trade, we help businesses of all sizes sell their products around the world. Let’s look at why exporting should be part of your plan to grow your business.
The Benefits of Export Growth for Small Businesses
More Sales and Higher Profits
When you only sell in the United States, you reach just one market. The world has nearly 8 billion people. By exporting, you can sell to many more customers.
More customers mean more sales. More sales mean more money for your business. Many companies find that exports add 20% or more to their total sales.
Products that sell slowly at home might be very popular in other countries. This helps you make more money from your existing products.
Reduced Business Risk Through Market Diversification
Selling in just one market is risky. If the U.S. economy slows down, your sales might drop. This can hurt your business.
When you export, you sell in different markets. If sales drop in one country, they might stay strong in others. This helps keep your business stable during hard times.
Think of it like not putting all your eggs in one basket. Spreading your sales across countries protects your business.
Extended Product Life Cycles
Products often follow a pattern. They sell well at first. Then sales slow down as the market gets full. Finally, sales drop as newer products take over.
Different countries are at different stages. A product that’s old news in the U.S. might be new and exciting somewhere else. This lets you sell products longer and make more money from them.
For example, some electronics that don’t sell well in the U.S. anymore are still popular in growing markets like India or Brazil.
Improved Competitiveness in All Markets
Selling abroad makes your business stronger. You learn new things from foreign customers. You see how companies in other countries work. These lessons help you at home too.
Many businesses find they become more creative after exporting. They get new ideas for products. They find better ways to make things. They learn how to compete with the best companies around the world.
This makes your business better overall. Your U.S. customers benefit too.
Common Myths About Export Business Opportunities
Myth #1: “Our Business Is Too Small to Export”
Many small companies think they can’t export. They believe only big businesses can sell to other countries. This isn’t true!
About 98% of U.S. exporters are small or medium-sized businesses. These companies make up about one-third of all U.S. exports. Size doesn’t matter as much as having good products and a plan.
With today’s technology, even tiny companies can reach global customers. Online selling makes it easier than ever.
Myth #2: “Exporting Is Too Complicated and Risky”
Yes, exporting has rules to follow. There are forms to fill out. Different countries have different ways of doing business.
But you don’t have to figure it all out alone. Companies like Seymour International Trade help businesses with these tasks. We know the rules. We can guide you through each step.
Many resources exist to reduce export risks. Government programs can even insure your international sales against non-payment.
Myth #3: “We Can’t Compete with Foreign Companies”
American products have a great reputation around the world. People in many countries want to buy American goods. They see them as high-quality and trustworthy.
Your unique products might fill a need that local companies don’t meet. Your innovation and quality can help you stand out, even in crowded markets.
Success comes from finding the right markets for your specific products. Not every country will be a good fit. But many will welcome what you offer.
How to Start an Export Business Strategy
Begin with Export Market Research
Before you start selling abroad, do your homework. Learn which countries might want your products. Not all markets are right for every business.
Good export research looks at:
- How big the market is for your type of product
- What local competitors sell and at what prices
- Any rules or taxes on importing your products
- How customers in that country like to shop
- If your products need changes to work well there
Seymour International Trade can help with this research. We have tools to find the best markets for your specific products.
Create an Export Business Plan
Just like your regular business plan, an export plan guides your efforts. It doesn’t need to be long, but it should be clear.
Your export plan should include:
- Which countries you will target first
- How you will enter each market (online, through partners, etc.)
- Your goals for export sales
- How much money you can spend on export efforts
- Who will handle export tasks in your company
- A timeline for your export activities
A good plan helps you stay focused. It also shows banks and partners that you’re serious about exporting.
Find International Trade Partners
Few companies export entirely on their own. Most work with partners in their target countries. These partners help you understand the local market and reach customers.
Types of export partners include:
- Distributors who buy your products and resell them
- Sales agents who find customers but don’t buy the products
- Retailers who sell directly to consumers
- E-commerce platforms that reach online shoppers
The right partners make exporting much easier. They already know the market and have connections there.
Understand Export Regulations and Compliance
Every country has rules about what can be imported. The U.S. also has rules about what can be exported. Learning these rules is important.
Key export compliance areas include:
- Export licenses for certain products
- Customs forms and product codes
- Rules about where products are made
- Special rules for food, medicine, or technology
- Shipping and labeling requirements
Following these rules prevents problems. It keeps your products moving smoothly to international customers.
Financing Your Export Business Growth
Using Export Credit Insurance
One worry about exporting is getting paid. What if a foreign customer doesn’t pay you? Export credit insurance protects against this risk.
This insurance covers your international sales. If a customer doesn’t pay, the insurance company pays you instead. This gives you peace of mind when selling to new customers.
The U.S. government offers this insurance through the Export-Import Bank. Private companies sell it too.
Finding Export Working Capital
Exporting often means waiting longer to get paid. This can create cash flow problems. Export working capital loans help with this issue.
These loans give you money to make products for export orders. You can pay your workers and buy materials. Then you repay the loan when your international customer pays you.
Banks and the Small Business Administration offer these loans. They often have better terms than regular business loans.
Securing International Financing for Buyers
Sometimes your foreign customers need help paying for large orders. Several programs can help them finance purchases from U.S. companies.
The Export-Import Bank can lend money to foreign buyers of American goods. This makes it easier for them to buy from you instead of your competitors.
Other countries have similar programs. These can help your customers afford your products.
Adapting Products for International Markets
Meeting International Standards and Certifications
Different countries have different standards for products. What works in the U.S. might need changes to sell elsewhere.
Common international standards include:
- CE marking in Europe
- CCC certification in China
- Electrical voltage and plug differences
- Metric measurements
- Safety and environmental rules
Learning these standards early saves time and money. Some products need only small changes to meet foreign requirements.
Cultural Customization of Products
Products that sell well in the U.S. might need changes to please customers in other countries. These changes can be small but important.
Examples include:
- Different colors (some colors have negative meanings in certain cultures)
- Different sizes (portion sizes, clothing sizes, etc.)
- Different features based on local needs
- Different packaging styles
- Translated labels and instructions
Small changes can make your products much more appealing to foreign customers.
Pricing Strategies for Global Markets
Pricing products for other countries is tricky. You need to consider:
- Local competition and their prices
- Shipping costs and import taxes
- How much local customers can afford
- The image you want for your brand
- Exchange rates between currencies
The right price makes your product competitive but still profitable. Finding this balance takes research and sometimes trial and error.
Success Stories: Small Businesses Going Global
Family-Owned Food Company Finds Sweet Success in Asia
A small honey company from Oregon started exporting to Japan five years ago. They found that Japanese customers love American natural foods. They pay premium prices for pure, high-quality products.
The company now sells to five Asian countries. Export sales make up 40% of their business. They hired three new employees to handle growing demand.
Their keys to success were:
- Finding a good Japanese distributor who understood the market
- Creating special gift packaging for Japanese consumers
- Getting organic certification that Asian customers value
- Using social media to tell their company’s family story
Small Manufacturer Triples Size Through Exports
A small company making specialized tools found that their U.S. market was limited. They had good products but needed more customers.
They started attending international trade shows. They found distributors in Germany, Brazil, and Australia. These markets valued their high-quality American tools.
Within four years, the company’s sales tripled. They now export to 12 countries. Exports make up 65% of their total sales. They built a new factory and hired 28 new workers.
Online Retailer Reaches Global Customers
A small clothing company started selling online to U.S. customers. They noticed they were getting questions from shoppers in other countries. This showed international interest in their products.
They updated their website to ship internationally. They added clear size charts showing both U.S. and international sizes. They offered customer service during hours that worked for overseas customers.
International sales now make up 35% of their business. They sell to customers in over 30 countries without any physical stores outside the U.S.
How Seymour International Trade Helps Your Export Journey
At Seymour International Trade, we specialize in helping businesses start and grow their exports. Our team has helped hundreds of companies find success in global markets.
Export Readiness Assessment
Not sure if you’re ready to export? We’ll help you find out. Our export readiness assessment looks at your products, your team, and your goals.
We’ll identify your strengths and any areas that need work. Then we’ll suggest steps to prepare your business for exporting.
Market Selection and Research
Which countries should you target first? We help you find the best markets for your specific products. Our research tools identify where your products have the best chance of success.
We look at market size, competition, regulations, and cultural fit. This helps you focus on the most promising opportunities.
Partner Identification and Vetting
Finding good partners abroad is crucial. We help you identify and check potential distributors, agents, and other partners.
Our team can arrange meetings with pre-screened partners. We can even join these meetings to help you ask the right questions and understand the answers.
Export Compliance Guidance
Confused by export rules? We’ll guide you through the requirements. Our team knows the forms, licenses, and procedures you need.
We help you create a compliance system that works for your business. This prevents problems and keeps your exports moving smoothly.
Ongoing Support and Troubleshooting
Questions come up at every stage of exporting. Our team is here to answer them. We provide ongoing support as you grow your international sales.
If problems arise, we help solve them. Our experience with hundreds of export situations means we’ve seen most issues before.
Ready to Grow Through Exporting?
Exporting offers huge opportunities for business growth. It brings new customers, higher sales, and protection against market changes.
Yes, it takes work to start selling internationally. But the rewards make it worthwhile. And with the right help, the process becomes much easier.
At Seymour International Trade, we’re ready to guide your export journey. From finding markets to shipping products, we’ll be with you every step of the way.
Take the first step toward global sales. Contact Seymour International Trade today to learn how exporting can help your business grow!
This blog post was created by Seymour International Trade, helping American businesses succeed globally since 2006.
