SBC Examines How SBA Can Help Small Businesses in the Global Marketplace
Only 1% of Small Businesses Currently Export Their Goods
WASHINGTON – Today, the House Small Business Committee heard from the Small Business Administration (SBA) about its ongoing efforts to help small businesses participate in the international marketplace. Peter Cazamias, the Associate Administration of the Office of International Trade, testified on behalf of the SBA.
“There is no question that foreign markets hold incredible opportunities for America’s small businesses. Ninety-five percent of all consumers live outside the borders of the United States, and yet, only one percent of United States small businesses actually export—about 300,000 of them,” said House Small Business Committee Chairman Steve Chabot.
“If we want to unleash America’s most significant economic force, then we must make it easier for small businesses to participate in the global marketplace,” added Chairman Chabot.
Accomplishments and Challenges at the SBA’s Office of International Trade
“Today, among our over 28 million U.S. small businesses, less than 5% can claim the title of ‘exporter.’ The Office of International Trade is charged, by statute, to improve upon this number. Its stated mission involves: increasing the number of U.S. small businesses that export, and increasing the volume of exports by U.S. small businesses,” said Peter Cazamias, Associate Administrator of the Office of International Trade at the SBA.