Despite economic challenges in the U.S., now is the time for calculated risk.
in the NewsQ4 2017 Rail/Intermodal Roundtable: Improvements apparent; work remains The State of the DC Voice Market Port Tracker report continues strong run of U.S. retail container import growth U.S. carload and intermodal volumes are both solid in November, reports AAR U.S.-bound shipments are strong again in November, reports Panjiva More News
As noted in toay’s news section, small- and mid-sized businesses (SMBs) engaged in global business reported the most success exporting to Canada, Mexico, the UK and Australia – countries with which the U.S. either has free trade agreements or bilateral trade relations.
In contrast, nearly two-thirds (62 percent) of SMB exporters say they have not had success exporting to the BRIC countries (Brazil, Russia, India, China) in the past 10 years. There are no U.S. free trade agreements with these nations.
We agree with Laurel Delaney, owner of the small-business consulting firm Global TradeSource, Ltd., who says it might seem “counterintuitive” for small businesses to expand internationally with the economic challenges in the U.S., but now is the time for calculated risk.
She maintains that by connecting with companies that have already been successful exporting, companies new to the process can realize the benefits of engaging in global trade a lot faster.
“The simplest way for SMBs to find a successful exporting lead is good old-fashioned word-of-mouth coupled with a great company website,” advises Delaney.
About the AuthorPatrick Burnson, Executive Editor Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at [email protected]
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