Question

According to the Small Business & Entrepreneurship Council, the growth in real total trade (exports plus imports) equaled 46 percent of the United States economic growth from 2000 to 2014, with real exports equaling 23 percent of growth over the period. International markets are increasingly important for the growth of U.S. small firms. How might today businesses attract and retain the very best employees around the world by adopting a global benefits strategy? Support your response through examples and evidence.

Answer 1

Ans. The businesses, certainly, can attract and retain the very best employees around the world by adopting a global benefits strategy as the majority (96 percent) of the world’s consumers live outside the territory of the United States. Therefore, nothing can be good enough than extending business opportunities and acquiring global growth. One can not turn away from the fact that two-thirds purchasing power of the world lies within the hands of foreign nations. And these nations are able enough to help small business & entrepreneurship to sell their products and services within their territories.

These are some facts that can be considered as the shreds of evidence for adopting a global benefits strategy:

1. More than three hundred thousand U.S. companies exported goods in 2012, out of which nearly 98 percent were small or medium-sized companies (SMEs) having less than 500 employees.

2. 33 percent of goods were exported by SMEs in the year 2012.

3. 18 percent of the sector’s export value, in manufacturing, was accounted for by 97 percent SMEs.

4. 79,000 out of 83,000 firms were SMEs that were engaged in the trade of exporting and importing goods in 2012.

5. In 2012, SMEs were recognized as potential importers and held accountable for 97 percent imports.