Running head: Entrepreneurs’ Fears Case Study

Entrepreneurs’ Fears Case Study

Introduction The White House would like to raise exports by small business, however the unreliability of the global market is frightening the enterprise. President Obama would like to help out small businesses by asking Export-Import Bank to rise export funding by more than a third, to 6 billion dollars. With these increases he hopes to double American exports and encourages small businesses to go abroad. It is extremely hard for small businesses to go abroad though when the larger businesses dominate exports accounting for close to 60 percent of the 1.2 trillion dollars in exports. Small businesses are just not as experienced and aren’t able to …show more content…

Another important part of this expansion is hiring a good team of employees. The people that small businesses select to run their overseas operation must be fully submerged in the local environment and also make sure they have experience dealing with international business. This will get rid of that language barrio if you have locals working in your company that you trust you can use them to translate. Also you can have them take of the work that you wouldn’t be able to do in the states due to the time zone difference. Lastly, doing a small businesses due diligence is super important, all ideas must be fully thought out and in the best interest of the company before putting them into effect. (Fallon)
Most recently, “businesses that were most confident tended to be the ones that were exporting their products and services to other countries, with 40 per cent of exporting businesses saying their number of exports has grown this year.” (So) That being said, it is not impossible to go overseas companies just need the right push to make it happen. It is in the best interest of small businesses to bring their companies abroad and make more money. The last issue explained before was currency, the way this can be resolved is to be controlled through currency board which is a “means of controlling a country’s currency”. (Hill) Another way that a company could eliminate this problem would be to use currency speculation which “involves