While eFashion Solution's lone, remote warehouse facility in Secaucus, N.J., is far from cosmopolitan, the e-commerce provider — which builds web sites and ships merchandise for fashion apparel brands — is quite the worldly small business. Shipping to more than 4,000 cities in 200 different countries, the company has built an international infrastructure to reach "basically any city that's got a paved road," says CEO Edward P. Foy, Jr. And it's in good company.More small businesses are looking to enter foreign markets, as a declining dollar makes U.S. exports cheaper for the world's customers. Thanks to an ailing housing market, credit squeeze and inflation, "it's almost as if a perfect storm has come together...putting all of our goods and service on sale," says Larry Harding, chief executive of High Street Partners, an Annapolis, Md., consulting firm that provides advice on global expansion. "Now is an unbelievable time for U.S. companies...to take advantage of the global market."Content Continues Below
Small businesses already represent nearly 97% of exporters, trading $1 billion a day in goods and services, according to the U.S. Chamber of Commerce. Come 2018, nearly half of U.S. small businesses will be involved in global trade, predicts the 2008 Intuit Future of Small Business Report. Other than economic conditions, factors such as improved technology, more affordable transport and lower trade barriers are all driving the trend, according to the study, authored by the nonprofit Institute for the Future.
Read More
