Entrepreneurs Case Study

In: Business and Management

Submitted By spaz02
Words 1137
Pages 5
Running head: Entrepreneurs’ Fears Case Study

Entrepreneurs’ Fears Case Study

Introduction The White House would like to raise exports by small business, however the unreliability of the global market is frightening the enterprise. President Obama would like to help out small businesses by asking Export-Import Bank to rise export funding by more than a third, to 6 billion dollars. With these increases he hopes to double American exports and encourages small businesses to go abroad. It is extremely hard for small businesses to go abroad though when the larger businesses dominate exports accounting for close to 60 percent of the 1.2 trillion dollars in exports. Small businesses are just not as experienced and aren’t able to compete with these large organizations that have already established a presence overseas. (Tozzi)
Establishing of Stakeholder’s Problems
The main problem with going overseas is the unpredictability of the global market, for example Old Wood, a flooring company owner of only 15 employees out of Las Vegas N.M. attempted to do business abroad and found that it is not as simple as it looks. “In 2008 a theater in Seoul ordered 18,300 square feet of Douglas fir flooring, a job worth $130,000, roughly 10% of the company's revenues. Owner David Old says the buyer passed a credit check, paid a deposit, and made two payments on time. Old delivered the wood, but the final payment of $40,000 never arrived. "I don't think the guy was a crook," Old says. "I think the global economic collapse probably bankrupted him.”” (Tozzi) The problem with small businesses expanding abroad isn’t the fact that they can’t find customers it’s that they can’t guarantee the payment and they can’t afford to take a hard hit like a larger company can. A hit like Old experienced could cause a small business to have to close their doors if they aren’t careful with…...

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