According to new research done by Ernst & Young small businesses may benefit from selling to consumers that are overseas. Some of the top consuming countries are Brazil, Russia, South Africa, China and India, In 2012, the world economy will grow by an anticipated 4%. The Unites States and Europe, however, are only expected to grow by less than 2%. For this reason many businesses are turning to countries in the east in hopes to benefit from their expanding economies.
At the top of the list for countries to sell to is South Korea. With the U.S.-Korea free-trade agreement that was announced in 2006, the two countries will be able to trade with only a 5% tariff on goods. Malaysia and Ghana are also good countries to trade with. Depending on what product you are selling, other countries may be more beneficial. The International Trade Administration is a good source for getting to know the markets overseas.
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