"The excitement over the potential benefits of exporting is not simply anecdotal but is also borne out in the data."
FOR IMMEDIATE RELEASE
Tuesday, July 30, 2024
Contact | Molly Day
202-552-2904 mday@nsba.biz
NSBA Testifies Before Congress on Exporting for Small and Rural Businesses
Washington, D.C. – Earlier today, National Small Business Association Senior Director of Government Affairs Reed Westcott testified before the Senate Commerce, Science, and Transportation Subcommittee on Tourism, Trade, and Export Promotion at a hearing titled, “Enabling Rural Businesses to Grow at Home While Competing Abroad.”
Westcott, testifying on behalf of NSBA and its international trade arm, the Small Business Exporters Association (SBEA), underscored the vital role small businesses play in their communities and abroad.
“The excitement over the potential benefits of exporting is not simply anecdotal but is also borne out in the data,” stated Westcott. “In 2022, NSBA conducted a survey which showed that more than half of currently non-exporting SMEs would be interesting in selling goods and/or services to foreign customers if barriers to entry could be addressed.”
Westcott went on to highlight potential fixes that could eliminate or ease those barriers, including:
Increase outreach through the ITA’s Rural Export Centers
Expand interagency partnerships like S. 4764, the Coordinated Support for Rural Small Businesses Act would do
Strengthen the Office of Rural Affairs
Harmonize trade rules to ease complexity in trade regulations
Embrace and pass trade deals that are transparent and accessible, consistent and predictable, and include support mechanisms.
Support existing and new financing mechanisms akin to EXIM Bank for small- and mid-sized exporters
“While small and rural exporters face numerous challenges in entering global markets, there are tangible actions Congress can take to support existing resources, simplify rules wherever possible, and ensure the availability of export capital,” stated Westcott, “and NSBA and SBEA stand ready to help with those efforts.”
Please click here to watch the hearing and here to read the full testimony.
Celebrating more than 85 years in operation, NSBA is a staunchly nonpartisan organization advocating on behalf of America’s entrepreneurs. NSBA's 65,000 members represent every state and every industry in the U.S. Please visit www.nsba.biz or follow us at @NSBAAdvocate.
Comments