Small to mid-sized businesses and even sophisticated start-ups facing domestic
obstacles to growth are exploiting previously overlooked opportunities overseas.
American firms exported $84.7 billion in goods in February of this year, up from
$82.2 billion in January. Exports of services continued to exceed imports by $10.9
billion in February although overall service exports were down slightly at $42.1
billion due in large part to decreases in shipping, transportation and travel
expenditures. Both sectors were aided by the strength of foreign currencies
against the dollar, a condition that, although somewhat abated, is unlikely to
reverse itself in the near term considering the stimulus efforts of the Federal
Government.
This is good news for the American worker as job creation and recovery typically
starts at the small business level. But opportunity brings risk and, while the risks of
entering new export markets are worth taking, they are also risks that are worth
understanding and protecting against. Ober|Kaler's Chris Lonegro discusses.
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