Only 4% of U.S. small businesses are exporting

December 29, 2017

Only 3.9% of the 6 million small businesses in the United States are exporting goods today, as opposed to 8% of European companies of similar size, based on data released by London-based financial services company World First.

With more than 70% of the world’s purchasing power, foreign markets offer lucrative opportunities for businesses to thrive. The total value of worldwide B2C cross-border ecommerce is expected to reach $424 billion by 2021, the same source reports.

The advantage of doing business in foreign markets has been well-established: Indeed, U.S. companies selling internationally are 8.5% less likely to go out of business, Small Business Trends reports.

For small businesses, ecommerce is a relatively simple and inexpensive way to reach customers worldwide. Fully 66% of consumers make ecommerce purchases from sites outside their home countries, World First notes.

However, many small business still are ill-equipped to take advantage of the international markets:  28% of them have no websites for ecommerce.

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