Small world: Small Utah businesses are exporting into large overseas markets

In our ever-flattening world, Utah companies are realizing vast opportunities by exporting their products and services overseas. That's not surprising considering roughly 75 percent of the world's purchasing power and 95 percent of its population are outside the United States, according to the Office of the United States Trade Representative.

But what was almost unthinkable 10 years ago — a small business exporting to a market like China, for example — is now possible thanks to technological advances such as the rise of e-commerce sites, among other factors.

In fact, most of the nearly 2,900 Utah companies that export are small and medium-sized businesses. By selling their goods abroad — to top Utah export destinations like the United Kingdom, China, Canada and India — these companies are able to diversify their portfolios, weather changes in the domestic economy, and maximize their growth potential.

Last year, Utah exports reached $18.9 billion, a 37 percent increase over 2010's $13.8 billion, according to the International Trade Administration. And World Trade Center Utah has reported that ours is the only state in the U.S. to double its international exports in the last five years. KSL.com