Reason 1 to export: Increase your business sales and profits

decision making reasons to export strategy Jul 26, 2022
 

Being brave pays off

Bigger market, bigger opportunities - a no brainer? 

Well, many small businesses don't consider their export potential.

Why not

  • since they are so busy running their day-to-day operations.
  • they think exporting is too complicated.
  • not aware of export promotion and assistance offered by their governments.

But there are a lot more reasons why a small business should start exporting:

# 1 Increase your business sales and profits

Several studies have shown that exporting businesses

  • make more money,
  • grow faster and
  • are more resilient during economic downturns

than those selling locally.

Businesses that export also have to be more competitive and productive to succeed internationally.

Exports boost sales and profits, this has been proved by numerous statistics.

Exporting: A Key Driver of SME Growth and Profits, reports that 42% of respondents have enjoyed annual international sales growth of 20% or more over the past three years. 

Another study in 2015, by Industry Canada, found that exporting companies, on average, have over double the annual revenue of non-exporting companies ($3.4M compared to $1.6M).

More specific example:  American SME manufacturers who exported grew by 37%, while those who didn’t shrink by 7% (from 2009-2012).

If you would like more recent figures and facts for your country, you are welcome to contact us.

Business intelligence is essential when preparing for a Go To Market Strategy.

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