7 MISCONCEPTIONS AND THE FACTS
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Are you a small business thinking about exporting to international markets because
you’re looking for new revenue streams? Take a look at our “7 Exporting Takeaways
from the 2016 Small Business Exporting Survey” blog which breaks down the most
important takeaways from the latest small business survey.
The discussion between what is fact and what is a myth has always existed. However, in order to
make sure the facts are being heard and supported, it’s important to discuss them periodically. In the
business world, common “negative” myths about exporting are ubiquitous, but below, we’ve decided
to break down these myths and give you a quick snapshot of the new reality.
7 Exporting Myths
I’M TOO SMALL
TO GO GLOBAL
MY PRODUCT OR SERVICE
PROBABLY WON’T SELL
OUTSIDE THE U.S.
I WON’T BE SUCCESSFUL
BECAUSE I DON’T SPEAK
GETTING PAID IS
I’LL LOSE MY SHIRT
MY DOMESTIC MARKET
IS VERY GOOD—
I DON’T NEED TO EXPORT
EXPORTING IS TOO
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7 Exporting Myths (continued)
1. Exporting is too risky
The new reality: Exporting to some markets, such
as Brazil, is no more risky than selling in the United
States. Any risk can be identified and reduced through
affordable assistance now available through the
Commerce Department, the Export-Import Bank of the
United States or your local chamber of commerce.
2. Getting paid is cumbersome
and I’ll lose my shirt
The new reality: Trade finance and banking have
evolved to the point where, with the right tools, selling
things internationally is routine, safe and efficient.
3. Exporting is too complicated
The new reality: Most exporting requires minimal
paperwork. Researching markets and finding buyers
can be done through the U.S. Department of Commerce,
the Export-Import Bank of the United States or your
local chamber of commerce.
4. My domestic market is very
good—I don’t need to export
The new reality: Few markets remain static.
To remain viable most companies must recognize
it’s a global marketplace.
5. I’m too small to go global
The new reality: Not true. Even 10 years ago, nearly 42%
of all U.S. exporters had fewer than 19 employees.
6. My product or service probably
won’t sell outside the U.S.
The new reality: If it sells here, chances are it
sells elsewhere. Plus, help is available to test its
acceptance in more than 100 countries.
7. I won’t be successful because
I don’t speak another language
The new reality: Cultural knowledge is always helpful, but
you can learn as you go. English is usually enough in the
business world and help is readily available for situations
in which interpreters and translators are necessary.
The Export-Import Bank of the United States
(EXIM Bank) is an independent, self-sustaining
federal government agency with more than
80 years of supporting U.S. jobs by facilitating
the export of American goods and services.
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Are you ready to work with EXIM?
Before getting started, it’s important to know the basic
requirements for working with EXIM Bank. While it’s always a good
idea to call us with any questions about our policies, generally
your business will need to meet the following criteria:
• Been in business for at least one year
• Has a positive net worth
• Exports U.S.-made products and/or services
Let’s get started:
Request a free consultation with an EXIM Bank regional specialist:
BASIC GUIDE TO EXPORTING
GUIDE TO EXPORT CREDIT INSURANCE
Learn the basic fundamentals of exporting
and turn export opportunities into sales.
Learn how to protect your foreign
receivables from bad transactions.
For more in-depth information about EXIM,
visit our website.