It has long been known that U.S. economic growth and job creation depend on the ability to sell beyond America’s borders; after all, 95% of consumers live outside the United States. Moreover, U.S. businesses that export tend to grow faster, create more jobs, and become more resilient in the face of a changing economy. However, we have a less developed understanding of U.S. small business export potential. 

Small businesses employ nearly half of the private-sector workforce in America — almost 85 million workers. They are responsible for $6 trillion in annual economic output. Small businesses are a bedrock of communities across this country, in major cities, suburbs, and small towns. So, questions about small business exports and their growth potential are more than academic. Understanding the exporting needs and challenges of small businesses will be critical to creating more economic opportunity in the United States. 

A new report issued by the U.S. Chamber of Commerce seeks to address these questions, and in particular, examine the role that technology can play in enabling and expanding U.S. small business exports. Survey results show that more U.S. small businesses are exporting than previously realized. Small business exports account for nearly one-quarter of U.S. exports. Those exports are supporting numerous jobs — more than 6 million in total — from Alabama to Arizona, from Wisconsin to Washington. The total economic impact of small business exports was estimated at $541 billion in 2017.