Did you realize that the typical German “mittelstand” company (like our SME/SMB designation) exports to 16 different markets? And yet only 5% of all American companies export according to Department of Commerce statistics – and that includes multinationals and the F1000. Further, of that 5%, approximately 70% only export to either Canada or Mexico. Only our most elite 1.5% of companies export to more than a couple NAFTA markets. But we import without hesitation..
Our import activity, of course, contrasts dramatically. We are import experts! Not just in the trite way (everything comes from China) but technically too. America has some of the world’s foremost experts on supply chain management and sourcing. Combining engineering, logistics, statistics and management, these disciplines have evolved into mind-bendingly complex fields which yield incredibly sophisticated tools for management. And supply chain management provides real financial benefit to businesses and often is a competitive differentiator. In contrast with rare export activity, import savings and efficiencies are frequently realized by SMEs – even quite small and otherwise unsophisticated businesses. [Read more...]