Program Updates

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Top 10 Reasons to Consider Exports

May 06, 2014

For companies thinking about exporting for the first time, sure, there are lots of reasons why it can't be done. Have you ever taken time to think about why it CAN? Here's a quick list of the Top 10 Reaseons to Consider Exporting.

1. A whopping 95% of the world’s consumers live outside of the United States

2.  In 2012, US exports set a record value of $2.2 trillion, despite setbacks in the global economy

3.  During 2011, small and medium-sized companies made up 98% (295,000) of exporters

4. The US is the largest exporter of private commercial services with service exports totaling $630.4 billion in 2012

5. For every $1 B in US exports roughly 5,400 direct and indirect American jobs are created

6. Every $1 B dollars of exports in any metro industries translates to 1-2% higher wages. Industries with $10 billion in metro exports bump wages by 20-30%

7. The top US export markets are in North America (Canada and Mexico!)

8. The Port of Richmond provides direct access to the Port of Virginia, the deepest port along the east coast, and is a strategic alternative to market access via planes, train, and automobiles

9. Experts are available locally to provide export counseling from the Small Business Administration, US Commercial Service, Virginia Economic Development Partnership, and Virginia Small Business Development Center

10.  Export counseling services are available to companies at no cost right here in Richmond

Sign up for the Greater Richmond Export Initiative Kick-Off Conference to learn more about exporting!

The Business First Visit

So you've decided to participate in a Business First visit. We're looking forward to talking to you!

This is a great oppurtunity to voice your opinion, connect with resources that might help your business today, and form a lasting relationship with your local economic development department for any needs that may arise in the future.