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Think Export

If you think that you have saturated your market or that there are too many new entrants into your industry, then it may be time to consider expanding your market to countries outside of the US. Too often we think within the box and ignore opportunities outside of the norm. However, it is imperative, especially during a recession, to identify new customers outside of your local surroundings.

Our recommendation is that you should try to determine the needs of your countries closest neighbors, identify products that you produce that matches these external needs, determine the feasibility of exporting your product to these countries taking into consideration export cost and possible revenue and whether your products are up to international standards.

You should also try to determine if there are any government or state programs that provides assistance to small business's like yours for exportation of your product, if there are any trading clubs or organizations that can help you to find trade partners and whether your product needs to be re-engineered or re-designed to suite your potential trade partners. 

State and federal laws should also be considered as well as the laws of the country of your potential trade partners. Consideration should also be given to how the exchange rate between your country and your potential trade partners country will impact your revenue and whether the stability of the countries economy and political system will encourage could trade relations.

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