How to Improve Your Export Strategy

How to Improve Your Export Strategy

Nov. 7, 2016
Only a small fraction of all U.S. companies export, and U.S. Department of Commerce data show that 59% of all current U.S. exporters sell to only one market. 

Each year, U.S. companies export well over $2 trillion dollars of goods and services to reach the more than 95% of world consumers who live outside the United States.

To help companies either start or expand their exporting business, the U.S. Commercial  Service of the U.S. Department of Commerce, produced a video series, Get Ready to Export.

Although many companies are increasing their competitiveness by making foreign sales, many have yet to do so.  Only a small fraction of all U.S. companies export, and U.S. Department of Commerce data show that 59% of all current U.S. exporters sell to only one market.  Some of the reasons that many companies, and especially smaller firms, are not exporting is the perception that exporting is too burdensome.  Documentation, regulations or the risk of not being paid by the potential international customer is a barrier to entry for some companies.

The U.S. Commercial  Service makes the case that the “growth of emerging world markets, the rise of e-commerce, improved logistics options, and free trade agreements are among the major trends that has made exporting more viable than ever for even the smallest companies.” In fact, Census Bureau data shows that 98% of U.S. companies that export are small- and medium-sized firms with fewer than 500 employees.

Assistance in exporting is available through the government and its public and private sector partners that provide a wide range of export assistance, starting with the U.S. Commercial Service’s global network of 108 offices across the United States and in U.S. embassies and consulates in more than 75 countries. 

About the Author

Adrienne Selko | Senior Editor

Focus: Workforce, Talent 

Follow Me on Twitter: @ASelkoIW

Bio: Adrienne Selko has written about many topics over the 17 years she has been with the publication and currently focuses on workforce development strategies. Previously Adrienne was in corporate communications at a medical manufacturing company as well as a large regional bank. She is the author of Do I Have to Wear Garlic Around My Neck? which made the Cleveland Plain Dealer's best sellers list. She is also a senior editor at Material Handling & Logistics and EHS Today

Editorial mission statement: Manufacturing is the enviable position of creating products, processes and policies that solve the world’s problems. When the industry stepped up to manufacture what was necessary to combat the pandemic, it revealed its true nature. My goal is to showcase the sector’s ability to address a broad range of workforce issues including technology, training, diversity & inclusion, with a goal of enticing future generations to join this amazing sector.

Why I find manufacturing interesting: On my first day working for a company that made medical equipment such as MRIs, I toured the plant floor. On every wall was a photo of a person, mostly children. I asked my supervisor why this was the case and he said that the work we do at this company has saved these people’s lives. “We never forget how important our work is and everyone’s contribution to that.” From that moment on I was hooked on manufacturing.

I have talked with many people in this field who have transformed their own career development to assist others. For example, companies are hiring those with disabilities, those previously incarcerated and other talent pools that have been underutilized. I have talked with leaders who have brought out the best in their workforce, as well as employees doing their best work while doing good for the world. 

Sponsored Recommendations

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!