Exporting may increase small business jobs, strengthen economy

July 6, 2009 | Print this Page.
Exporting may help small businesses grow or stay stable through the recession.
Of the nation's 27.2 million small businesses, only 1 percent export - leaving the billion-dollar industry largely to big businesses, reports the Small Business Administration.

That needs to change, said Senator Mary Landrieu (D-LA), chair of the US Senate Committee on Small Business and Entrepreneurship, last week.

Senator Landrieu chaired a field hearing before the Senate Committee on Small Businesses and Entrepreneurship in New Orleans, urging them to considering exporting as a way to grow and sustain their businesses during the recession.

Small businesses looking to export but who need additional working capital may seek other financial assistance. But because many banks are wary of lending against export orders, especially in light of the credit crunch, small businesses may consider borrowing from a nontraditional lender instead.


"Expanding opportunities for small business trade is vital to the financial wellbeing of our entrepreneurs and all Americans during these tough economic times," said Senator Landrieu, noting that exporting may help small businesses "expand into international markets, create new and higher-paying jobs and strengthen the economy."

Every $1 billion of exports creates 14,000 jobs, according to the SBA.

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