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Tip Nov 2011 - "Tip: Taking Your Business Global"

Tip Nov 2011 - "Tip: Taking Your Business Global"

Tip Nov 2011 - "Tip: Taking Your Business Global"

Excerpt


Tip: Taking Your Business Global



According to a recent survey taken by the Hong Kong Shanghai Banking Corp., 40 percent of small businesses worldwide want to be trading internationally by 2013. Firms both large and small are daunted by the linguistic and logistical challenges involved in international trade, so the prospect of going global has remained a pipe dream for many. The United States lags behind other developed countries in exports – estimates suggest that less than 1 percent of all 30 million U.S. companies export goods overseas. Small businesses make up more than 70 percent of U.S. exporters, and their goods represent approximately 14 percent of the value of all goods exported. In the international arena, small businesses have some advantages that the big guys don’t have – including the flexibility and willingness to embrace new technology to reach and service customers.


 



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