Enterprises engaged in international trade and cooperation are twice as likely to be successful as those that only operate domestically, according to a study done my HIS Global Insight and DHL Express.
We are becoming a more globalized world, and businesses need to be able to keep up with this trend in order to survive.
“[We] firmly support the view that international trade creates tremendous value for SMEs (small- to medium-sized businesses). It not only opens up new markets for their products and services, but also gives them access to international best practices and innovations,” said DHL Express CEO Ken Allen.
The South Florida Business Journal named the following countries the top trade partners of South Florida:
- Brazil – $13,688.3 MILLION in total trade, January – October 2012
- Colombia – $8,101 MILLION in total trade, January – October 2012
- Switzerland – $7,539.7 MILLION in total trade, January – October 2012
- Costa Rica – $6,147.1 MILLION in total trade, January – October 2012
- Venzuela – $5,494.5 MILLION in total trade, January – October 2012
The DHL study revealed that small to medium sized businesses are concerned with the lack of available information on foreign markets, high customs duties, difficulty establishing contracts with different foreign enterprises and the ability to generate an overseas customer base. Here at Boyer Law Firm, our expertise in International Law can guide you through every step of this process.
Sources: South Florida Business Journal