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Innovation can open global market to all companies |
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Thursday, 12 July 2007 |
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Page 2 of 3
One marketplace
Five or 10 years ago, markets could be defined separately as the United States market and the international market. But today the marketplace should be defined as one global market, said Dorette Coetsee, director of operations for the South Carolina Export Consortium.
The consortium is a nonprofit organization that assists businesses, including Yeargin’s, with breaking into international markets. The consortium operates on a cost-recovery fee system, although some grants are available for businesses of certain size, types and locations.
With the globalization of the marketplace come more opportunities than ever for small- and medium-sized businesses.
According to research conducted by the U.S. Chamber of Commerce in 2005, 81% of the more than 4,500 S.C. businesses that sell their products overseas are small- and medium-size companies.
“It used to be that businesses would graduate into exporting, but now even startup businesses need to look into international trade right away, regardless of their size,” Coetsee said.
The Export Consortium is part of the S.C. International Trade Coalition, which also includes the S.C. Department of Commerce, the U.S. Commercial Service of the U.S. Department of Commerce, the S.C. World Trade Center and the S.C. District Export Council. The trade coalition works with businesses across the state interested in exporting by setting up trade missions that allow the businesses to gain exposure in various countries.
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