Feature of the Month
: Small Business Goes Abroad
With large multinational firms operating in countries all around the world, they have become extremely influential in the realm of international business. However, what is often overlooked is the role of small business in the creation of international business opportunities. Small businesses are beginning to realize the many benefits of exporting their products overseas. Exports can provide growth opportunities, new business relations, and introduce smaller companies to markets filled with profit potential. Governments are beginning to urge these small businesses to pursue overseas trade opportunities to help foster economic growth through exporting. According to the OECD, small businesses already contribute close to 50 percent of exports worldwide and that number is expected to rise as small businesses increase exports more easily with technology.
Alongside trade opportunities, small businesses create many other benefits for the global economy. First, small businesses are credited with strong job creation which can help stabilize economies in times of recovery. Secondly, small businesses are more adaptable to the ever changing economic climates of today’s world making them suitable for the complex situations created in the international marketplace. With fluctuating currencies, international disputes, and sporadic political problems abroad, small businesses can more easily adjust due to their small size and customer-oriented business strategies. Overall, small businesses have the ability and the design to create new opportunities overseas through exports. No matter the size, small businesses are just as important as multinational corporations in today’s globalized economy and will continue to play a large role in international business.
Featured Resources
SBDCGlobal.com
SBDCGlobal.com is an online trading platform that links small business networks to international trade opportunities. There are trade listings by category for both buy requests and sell offers. A free registration is required to post trade leads. Various trade information and training programs are also provided on the site. (Available in English and Spanish).
Category: Trade Leads
United States: Small Business Administration (SBA)
Established by the United States Government, the Small Business Administration's (SBA) mission is to maintain and strengthen the nation's economy by aiding, counseling, assisting, and protecting the interests of small businesses. SBA helps small businesses by providing them information on starting operations, financing, managing business opportunities, and implementing disaster recovery plans.
Category: United States
Featured Academy
Going Online: E-Exporting Tools for Small Businesses
This module was created in cooperation with the U.S. Commercial Service and is the eleventh chapter of the book A Basic Guide to Exporting. In this module, we will cover: E-commerce defined; your company's readiness to export on-line; steps to going online. A case study on the company Evertek Computer Corporation is also included.
Category: Exporting
North American Small Business International Trade Educators (NASBITE)
NASBITE's objective is to help the professional development of international trade educators, trainers, and service providers, as well as to promote an exchange of information and resources by those involved in international trade education and assistance. They coordinate and administer the Certified Global Business Professional (CGBP) credential, and provide support through training and study material. The organization also holds an annual conference.
Category: Professional Organizations
globalEDGE Business Review
"An Interview with Tomas Hult on Global SCM"
by Sarah Singer (Volume 7, Number 5, pp. 1-3, 2013)
This is an interview with Dr. Tomas Hult on global supply chain management and related issues pertaining to today’s global marketplace. He is the Eli Broad Professor of International Business in the Eli Broad College of Business at Michigan State University. Professor Hult is viewed as a leading authority on the intersection of international business and supply chain management. Professor Hult is one of 82 Fellows of the Academy of International Business and Director of the International Business Center at Michigan State University. In research, Professor Hult was ranked as the 75th most cited scholar in “economics and business” between 1997 and 2007 (Thomson Reuters). He was also the 6th ranked management scholars who graduated since 1991 (Aguinis et al. 2012). In total, Hult has received more than 10,000 citations to his research (Google Scholar).
