- Department of Commerce and Goldman Sachs 10,000 Small Businesses collaborate on educational series on export topics
- Three-part webinar series aims to help small businesses expand their sales to international markets
- Several other federal resources are also available on export issues
Summary by Dirk Langeveld
The Department of Commerce’s International Trade Administration has teamed up with Goldman Sachs 10,000 Small Businesses to introduce an educational series designed to help small businesses grow their exports.
“New Year, New Growth, New Global Sales” is a three-part webinar series, with the first course taking place today. Subsequent sessions will take place on Feb. 22 and March 1.
The Commerce Department says small businesses account for more than half of the workforce in the United States, and that there is a significant potential for these companies to expand by selling their products and services abroad. The department says this expansion also allows companies to increase their sales and revenues while still creating jobs in the U.S.
Ninety-two percent of small businesses that work with the International Trade Administration export to more than one international market. Data from the U.S. International Trade Commission shows that small businesses that export to global markets earn more revenue and tend to compensate their employees better, typically paying them 16 percent more than businesses that don’t export.
The webinars complement several other resources available at the federal level to help small businesses offer their products and services abroad. The Small Business Administration says it provides assistance on this issue through U.S. Export Assistance Centers, Small Business Development Centers, and an International Trade Hotline. In addition, many states participate in the State Trade Expansion Program, offering grants to help small businesses take steps like beginning exports, taking part in foreign trade shows or missions, and creating websites or marketing materials to appeal to international markets.
The International Trade Administration has also provided a variety of resources on issues such as developing an export plan and determining if your company is export-ready. A separate training platform, Export-U, includes webinars and guides to assist with export issues.