Cost-cutting export suggestions for small business owners

3/31/2011

President Barack Obama's administration plans to help small businesses recover by getting them involved with international exporting. To this end, the American Express Open Forum recently offered some cost-cutting suggestions to entrepreneurs who are contemplating taking up Obama's offer.

First and foremost, entrepreneurs will want to reduce labor costs if at all possible. The best way to do this is to open a foreign factory, perhaps in the country to which a small business owner plans to export, the source writes. This would help entrepreneurs not only cut production costs but also shipping expenses.

Sales forces also need to be expanded to meet the demands of a company's new audience. "For example, if your customers demand extra service, make sure they get it by way of telephone calls, emails, in-person visits, Skyping and faxes. If they want a more efficient logistics process - pardon the pun - deliver it," explains the source.

Reducing costs will have tremendous benefits for customers at home as well - after all, inexpensive costs often translate into lower prices.