U.S. Small and Middle Market Exporters are Optimistic... - Other News


Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » U.S. Small and Middle Market Exporters are Optimistic About International Growth

U.S. Small and Middle Market Exporters are Optimistic About International Growth

U.S. Small and Middle Market Exporters are Optimistic About  International Growth
The content is accurate at the time of publication and is subject to change.

Opportunity and optimism are up, according to a new study by American Express, with 92% of U.S. small and middle market enterprises (SMEs) doing business on an international level, believing that international markets are flush with opportunity.

The 2017 American Express Grow Global Survey, interviewed exporters and found that 36% of their annual income comes from international markets. And they believe that there is more to come this year, with 73% anticipating an upswing in sales over the coming year.

What about the next five years? Here too they see opportunity, with 77% feeling confident that international sales will continue to go up. In fact, they project an upswing of 29% during that time. “International trade is a clear growth opportunity for small and middle market companies,” said Brendan Walsh, executive vice president, American Express Global Commercial Payments.
“Revenues from exporting are strong and estimates for future growth are optimistic, which reflect enthusiasm for global expansion among many SMEs,” he said.

Canada and Mexico flush with opportunity

Many SME exporters are planning on staying close to home to take advantage of international opportunities, with both Mexico and Canada on their radar. In the study, 34% say these markets represent the biggest bump in their growth over the coming five years.

What about Europe and Asia? They came in second with 25% indicating that these countries represent the biggest opportunity for them to grow their company.

Financing, marketing and domestic hiring

SMEs will be spending money to build their presence in these markets during 2018, with 42% expecting to budget $250,000 or more to market their services or products in international markets.
Financing is also on their minds, with 80% agreeing that when marketing to regions overseas they have access to additional financing options with more flexibility. Up to 80% indicate that they became more aware of these new options when they began marketing internationally.

Change was one of the byproducts of doing business globally for SME exporters, with 85% indicating that when they started selling internationally they made adjustments to their products and services. While 82% also said that they changed how they were marketing their wares when they needed to so they more effectively do business.

What about domestic hiring? For 87% doing business internationally meant looking for new talent and 86% said that it led to the recruitment of people from diverse backgrounds and abilities.
The 2017 American Express Grow Global Survey was carried out between August 7 and 15, 2017.


Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Discover Debit Card Gets an Upgrade

Posted: August 21, 2018

Discover is rolling out a new version of their debit card, offering several new features, including Freeze It, which may be familiar to their credit card customers. It lets cardholders turn their card on and off if it's lost or stolen. Continue reading
Discover Cuts Price Protection Benefits from Credit Cards

Posted: August 20, 2018

If you have a Discover card and like the Price Protection benefit that comes with it, you might want to take advantage of it sooner than later. Discover has decided to do away with this benefit. This benefit will no longer be part of your ... Continue reading
The New Citizens Bank Cash Back Plus World MasterCard

Posted: August 17, 2018

Citizens Bank has rolled out their new Cash Back Plus World MasterCard, offering cardholders 1.8% cash back when they go shopping. This is an upgraded version of their previous card. With this new version, cardholders can earn unlimited ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be 15.74% - 25.74% based on your creditworthiness
For Excellent, Good Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!