Category: Exporting
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The Metro Richmond Exports Initiative (MREI) is a non-profit program that’s here to help central Virginia businesses export their goods and services. We do this through special educational and networking programs, through grants and scholarships for export-related activities, and by connecting businesses with the resources they need to go global. We also work to make local businesses and organizations more aware of the benefits of exporting.
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Why is Exporting Smart for Your Business?
April 21, 2020
Exporting
Comments Off on Why is Exporting Smart for Your Business?
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Exporters typically have higher revenue and productivity.
Exporting facilities with less than 250 employees had 1.9 times more revenue than non-exporting plants, according to the U.S. Census. The U.S. International Trade Commission found that U.S. small- and medium-sized enterprise (SMEs) manufacturing exporters earned more per firm than non-exporters. Also, labor productivity, as measured by revenue per employee, was more than 70% greater for exporting SMEs.
Exporting can accelerate your company’s valuation.
One of the key factors that determine valuation is market risk. Since exporting companies operate in more than one economy, they spread out their market risk, and thereby reduce it. Also, a majority of exporters enjoy higher margins, and that raises their earnings before interest, taxes, depreciation and amortization (EBITDA).
You’ll get the insight you need to innovate.
A study done by professors at the University of Southern California and the University of Minnesota found that two years after exporting, exporters file seven times MORE patents and deliver four times MORE product innovations than non-exporting peers. That’s because exporters can often access diverse knowledge bases not available in the domestic market.
You’re in the right place!
The James River has made the Richmond region an excellent location for trade since the 1600s. Today, Metro Richmond’s central location, marine terminal facilities, and easy access to the Port of Virginia, interstates and international airports make it the ideal choice as an import/export logistics center. Plus, Metro Richmond’s higher education institutions are rich resources for research and product innovation. And the ultimate advantage: in this region, you have access to the guidance of MREI.