Fifty-five percent made their first foreign sale within two years of launching the business. Many women found that exporting is less complicated than first imagined, and that their firms achieved export profitability shortly after launching into foreign markets. Summary of important findings. International marketing poses the greatest challenge to women exporters. The costs of developing foreign markets, obtaining market information, and establishing effective distribution channels rank highest among the export challenges confronting women business owners.
International success is based on contacts, contacts, contacts.
Active exporters and export planners agree that the key to international success is making strategic contacts with potential customers and business associates through networking and personal visits to foreign markets. Women-owned SMEs are overcoming the financial challenges posed by exporting. More than half of active women exporters use personal funds and retained earnings to capitalize the firm. Short-term export financing is achieved through lines of credit, letters of credit and guarantees of receivables. Less than one in four of the companies surveyed are service-oriented.