- THE MAGAZINE
Small businesses in the U.S. may be leaving money on the table by failing to offer products and services internationally, said a survey conducted by Exact, a business software company. According to Exact, only one in three small business owners surveyed are offering their services and products internationally.
“‘Made in the USA’ doesn’t have to mean just selling in the USA – for some that significantly limits opportunity for growth,” said Steve Leavitt, GM of U.S. Cloud Solutions for Exact. “For many small businesses, the idea of conducting business internationally is simply too daunting. It doesn’t need to be that hard, however. The gateway to successful small business expansion across borders is closer than most think.”
According to the survey, 66 percent of small businesses don’t offer services or products internationally. This number doesn’t square with the fact that “revenue growth” (75 percent) and “attracting new customers” (64 percent) are the top two priorities for those same small businesses -- priorities many companies could address by tapping international markets.
“Not every small business has an opportunity to achieve success internationally, but it’s likely that many viable candidates are leaving money on the table,” added Leavitt. “With the ability to expand globally using business technology in the cloud and by leveraging partners, we expect to see more businesses test the waters in the coming years.”
Exact polled more than 300 U.S. small businesses in March 2014. The survey included questions related to business planning and priorities.