UPS and Commerce Announce Partnership to Increase Small-Business Exports
March 1, 2010 - U.S. Commerce Secretary Gary Locke and UPS CEO and chairman Scott Davis, announced on Feb. 19 a partnership intended to increase the exports of U.S. small- and medium-sized businesses. The partnership came about after President Obama stated his intention in his Jan. 27 State of the Union address to double the amount of U.S. exports over the next five years as part of his National Export Initiative (NEI).
According to the Department of Commerce, many small- and medium-sized businesses fail to take advantage of export opportunities due to the difficulty in identifying potential new markets or the proper contacts in those markets. Davis and Locke stated that NEI will create jobs at home and make U.S. businesses more competitive. Under the partnership, UPS will spend the next several weeks identifying small- and medium-sized businesses that currently export to just one market and will suggest new markets to them based on the specific industry and other factors such as geography, currency and market access opportunities. From there, the companies will be put in contact with U.S. Commercial Service (USCS) trade experts, stationed in 77 foreign companies, who will help the companies to implement strategies to identify new market opportunities and customers.
The Department of Commerce has reported that less than 1 percent of U.S. companies currently export goods or services. Of those, over half export to only one country.