Indeed, the top ten largest U.S. export markets account for seventy percent of world trade. Global business is big business. The global marketplace is not, however, just the province of huge multinational corporations. The SBA estimates that sixty-five percent of U.S. firms that export have fewer than 20 employees.
Small businesses account for nearly a third of the total merchandise export sales.
While overall the U.S. has a trade deficit, only in the service sector, where small firms are key, does the U.S. show a trade surplus. Of the small businesses that export, eighty-seven percent trade with one to four countries. Interestingly, all this activity is accounted for by a relatively small number of firms. Only about one percent of small businesses are engaged in international business and only about thirteen percent of these firms trade with five or more countries. This suggests that there is still an incredible opportunity for small businesses to be a part of the global economy.