Blog

Nearly 96% of consumers live outside of the United States, and two-thirds of the world's purchasing power is in foreign countries. Businesses in the United States that sell to foreign customers increase their sales and global footprint. So, how does a business start exporting and what resources are available to small businesses looking to export?

More than $2 million in grant funding to support the entrepreneurial ecosystem statewide through the Missouri Building Entrepreneurial Capacity (MOBEC) grant program has been awarded for the fiscal year 2023 grant cycle. MOBEC provides matching operations and project grants to nonprofit organizations that support Missouri entrepreneurs. Through the MOBEC grant program, MTC makes strategic investments that expand the entrepreneurship support system and enhance the capacity of Missouri to grow its innovation economy.

Every year, we get annual checkups. Vitals are checked and compared with previous checkups and then doctors put together an improvement plan for the upcoming year. A business checkup is similar to a medical checkup in that the business checks its vitals and then those results are compared with previous performance. At the end of the checkup, an improvement plan is created. But how do you analyze your business’s vitals, and how do you create a plan with those findings?

Most small businesses plan to move their suppliers closer to the U.S. in 2023. This trend of utilizing suppliers closer to your business is called nearshoring. Instead of looking for suppliers from all over the world, you look for suppliers closer to your business for inventory needs. But what are the benefits of nearshoring? And how does a small business begin this process?

Social entrepreneurs run for-profit businesses. These organizations can range from an e-commerce website to a manufacturing facility. And the social issues can range from local problems to global obstacles. A business that sponsors a local youth sports team is practicing social entrepreneurship. So is the company that is donating thousands of dollars a year to help find a cure for cancer.

I believe that there are several hurdles and roadblocks when exploring any export initiative. From country selection, buyer identification, payments and shipping, small business owners and managers face many different tissues when thinking about exporting.