New SBA Tool For Small Business Exporters
Written by Jenna Weiner
The SBA is offering a new free tool to help small businesses launch export operations.
Some good news for entrepreneurs looking to expand internationally: The Export Business Planner is a new free tool offered by the Small Business Administration, designed to help small businesses implement export operations.
The planner is a PDF file that can be downloaded from the SBA website. It provides a six-step framework for small business owners to use as they determine whether they are ready to export, and includes templates for designing export plans, global market research worksheets, and information related to obtaining financing.
On its website, the SBA says it has facilitated $2.2 billion in small business export loans since 2008. Among the incentives for small businesses to export, the SBA highlights the new ease and cost efficiency of doing overseas business, thanks to e-commerce.
Released on June 9, the latest Bureau of Economic Analysis and U.S. Census Bureau report on international trade shows that the trade deficit decreased from $46.8 billion in March to $43.7 billion in April, with imports down by $1 billion and exports up $2.2 billion.
The report reveals that export of industrial supplies and capital goods was up, as well as exports of travel, financial, and technical services. Export of automotive parts was down.
According to the SBA, 70 percent of exporters are small businesses with fewer than 20 employees.
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