Minority Business More Likely to Export
Exporting is good for American business, good for American workers and good for American jobs. Ninety-five percent (95%) of the world’s customers lie outside the United States and Minority Business Development Agency is committed to working with U.S. companies to help American-made goods and services succeed in the global market.
Export Sales
Minority businesses have a competitive advantage in global trade based on their cultural ties, language skills and nimbleness. The 2007 Survey of Business Owners reveals that among firms with export sales representing 20 percent or more of their overall receipts, minority-owned businesses are twice as likely to export compared to non-minority firms. In addition, minority firms are more than three times as likely to have businesses generating 100 percent of all their sales in exports compared to non-minority respondent firms. This finding is quite substantial because it can support the Administration’s goal of doubling the nation’s exportsby the end of 2014. Minority businesses can play an important role in meeting that goal through exports.
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