Opinion Panel Exporting Trends
Exporting has been recognized as a key driver to economic growth. While some may think exporting is reserved for large firms, more small businesses are also shipping their products overseas. In fact, almost 98% of exporters are small businesses.
In Q2 2013, we asked our Small Business Opinion Panel about their exporting experiences and compared their responses to Q3 2012 when we last asked about exporting.
While not a scientific sampling, our panel notes a sharp uptick in the percentage of business owners currently exporting. Of those who do not export, one third says their products or services aren’t suitable for exporting. Many others either do not have access to the financial resources or knowledge of how to get started.
Exporting may not be a viable option for every small business, and younger startups are typically advised to first prove their product offerings in more familiar local markets. But there are plenty of resources available to help explore abroad for those established small businesses ready to test foreign waters.
Here are a few:
- Exporting Basics:Take an exporting quiz to see if exporting is right for your business situation.
- Trade Financing: The SBA has three loan programs to help build export capacity.
- 3.U.S. Department of Commerce/U.S. Commercial Service, Export Assistance Center
- Mid-America Trade Adjustment Assistance Center
- World Trade Center-Kansas City
Have questions about exporting? Give us a call at 816.235.6500, we’re happy to help connect you to the right resource for your business needs.
Panel Survey Optimism Tapers
Several times each year KCSourceLink and MOSourceLink invite small business owners to share their opinions and expectations around small business issues. This quarter we compare survey results to the fourth quarter of 2012.
While still generally positive, expectations were down markedly from the end of 2012. Very few panelists expect a downturn in their business and only 4% anticipate contracting operations. Panelists were more likely to see business continuing at about the same level, compared to general growth expectations previously.