Nextrade helps SBA identify and support the next generation of US exporters and green tech exports
In 2022, Nextrade was awarded a contract with the SBA Office of International Trade (OIT) to understand its customer base of small business exporters and how to optimally service it, in order to promote exports from small businesses. In particular, phase one of the project aimed to:
Identify the total addressable market of American small businesses that are or can become exporters, by economic sectors;
Identify the share and number of small businesses that are currently exporting goods and/or services, and their current export volumes in dollars;
Define up to 20 industries to focus on in efforts to promote small business exporters;
Determine the characteristics of successful small business exporters in order to detect and cultivate the next sets of small businesses that are poised to grow through exports, and to address the needs of businesses that may otherwise perform well but are struggling to enter export markets; and
Understand the current and potential uses of export loans by American small businesses, and consider new financial instruments that can support today’s exporters.
Discuss how the SBA’s existing suite of services and instruments should be modified to meet small businesses’ changing needs and the changes in the types of small businesses that export.
Phase 2 launched in 2023 will focus on strategic and practices to promote key emerging export sectors such as green technology exports and women- and minority-led exporters.