In today's global and technological marketplace, a successful business has no boundaries. Yet, foreign markets remain an untapped resource for most small firms, with less than 1 percent of the nation's 27 million small businesses exporting. This number is drastically lower than in some other developed nations where as much as 15 percent of small businesses are exporters. While small businesses account for 97 percent of all exporters, their exports make up just more than a quarter of the country's export volume, a number lower today than it was ten years ago. This indicates that exporting among small businesses is growing at a much slower rate than among large firms.
To be a part of the competitive world market, small firms need equal access to overseas consumers. The Committee on Small Business and Entrepreneurship is fighting to see that small firms have this equal access. At the start of the 111th Congress Senator Landrieu introduced the Small Business International Trade Enhancements Act, which encourages more effective advocacy and better coordination among the agencies involved with trade. If passed, these changes will give small businesses the tools they need to create new and higher-paying jobs, lessen the trade deficit and make our nation a stronger competitor in the global marketplace.
Issue Related Press Releases
|9/21/22||Cardin Calls Underinvestment in Small Business Export Programs a “Missed Opportunity”|
|9/8/22||Cardin Lauds $20 Million in Federal Grants to Help Small Businesses Reach Foreign Markets|
|4/27/22||Oversight of the U.S. Small Business Administration|