WASHINGTON, March 16, 2017 /PRNewswire-USNewswire/ -- SCORE, the nation's largest network of volunteer, expert business mentors, has gathered statistics indicating small business' predominance in the United States export market. Small businesses make up 97% of U.S. exporters, and are steadily gaining a more proportionate revenue share:
- In 2002, only 27% of revenue from U.S. exports went to small businesses.
- By 2014, that rate had risen to 33%.
International trade is a key driver of small business success:
- U.S. companies that export grow faster and are nearly 8.5% less likely to go out of business than non-exporting businesses.
- 26% of companies that trade internationally significantly outperform their market.
Small businesses export to:
- Grow sales and profits
- Diversify and expand customer base
- Increase stability in light of U.S. economic challenges
On average, becoming an exporter takes less than a year:
- 48% of businesses reported that it took a few weeks to launch their exports
- 25% reported a few months
- 11% reported several months
- 7% reported a year or more
Less than one percent of America's 30 million companies export their products and services. 63% of non-exporting small businesses expressed the following concerns:
- 39% say their goods are not exportable.
- 37% don't know how to start.
- 24% worry about not getting paid.
- 24% cite regulatory barriers.
- 15% say it will disrupt domestic sales.
Download this month's infographic to learn more about the impact of exportation on small business success.
Since 1964, SCORE has helped more than 10 million aspiring entrepreneurs. Each year, SCORE's 10,000 volunteer business experts provide 350,000+ free small business mentoring sessions, workshops and educational services to clients in 300 chapters nationwide. In 2016, SCORE volunteers provided 2.2+ million hours to help create more than 55,000 small businesses and 130,000 jobs.
SOURCE SCORE Association