New Mexico Small Business Owners Are Exploring International Trade

iStock/Sean Pavone

New Mexico has seen steady growth in foreign trade in recent years yet it can still be an intimidating prospect for a small business owner.

While international trade has more than doubled as a portion of the United States’ gross domestic product over the past six decades, [David] Glaccum [associate administrator for the U.S. Small Business Administration’s Office of International Trade] said many small businesses opt not to export goods and services due to a lack of expertise, as well as a level of comfort in domestic markets. 

Glaccum also indicated as few as 1% of American small businesses export goods or services to other countries, even though 95% of consumers live outside the United States.

Read more about how international trade is within reach for New Mexico small business owners.