Staying Competitive Requires More Entrepreneurs Expand Abroad

Small businesses are no longer limited to local. Increasingly, entrepreneurs see the necessity and opportunity to immediately (or more quickly) enter the global marketplace. The ease of travel, communications, and trade has significantly lowered barriers to exploring new markets. Yet, the vast majority of small American firms continue only to sell domestically. Indeed, just five percent of our country’s small businesses export, even though more than 95% of consumers live outside of the United States. In the United Kingdom, the number of small businesses that export is well over 50%. Much more needs to be done to help American entrepreneurs expand their operations overseas.

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