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May 20, 2023

3 Tips for Small and Mid

(NewsUSA) - Operating from the epicenter of commerce, small and medium-sized

(NewsUSA) - Operating from the epicenter of commerce, small and medium-sized businesses (SMBs) form the core of the global economy—and while fears of recession continue to loom, many of these enterprises remain optimistic. In fact, 57% of SMBs expect revenue to grow and 58% plan to expand their workforce in the next 12 months according to recent WSJ/Vistage Small Business CEO Confidence Index reporting. However, despite this rise in confidence and rebounding economic circumstances, some businesses continue to remain operationally paralyzed into a state of "do no harm" rather than focusing on new avenues for growth. This is particularly true for SMBs hesitant to make changes within global imports and exports given the turmoil supply chains experienced in recent years.

According to the U.S. Census Bureau, Department of Commerce, SMBs accounted for $413 billion of the known U.S. export value and $651 billion of the known U.S. import value. Unfortunately, these SMBs are too often relegated to a secondary priority amidst larger, well-established entities that enjoy high-touch services by multinational shipping companies.

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