Current Exchange
Weak dollar, strong sales
Small exporters benefit when the dollar is weak since it makes
their goods significantly cheaper and more competitive abroad. So
how can you take advantage of a falling dollar? Contact the U.S.
Commercial Service for low-cost export assistance, says Mary Joyce,
network director of the U.S. Department of Commerce's Midwest
Export Assistance Centers. "They can help you through the
entire export process, including finding qualified
buyers."
The U.S. Commercial Service's major thrust is to help small
businesses crack overseas markets and gain ground on exports priced
in dollars against a broad range of currencies. "It's not
a question of whether you should go global; it's a question of
when. Now is a very favorable time," says Joyce.
Given the euro's current rate, American products can be a
bargain. "High-quality products are always in demand, but the
weak dollar has increased international demand for our
products," says Andy LaPointe, global marketing director for
Traverse
Bay Farms/Fruit Advantage, a Bellaire, Michigan, gourmet fruit
company. The weak dollar helps offset international shipping costs,
LaPointe adds, making U.S. products even more competitive.
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Although a sliding dollar can open doors to new business,
it's no panacea for companies that should be running lean
operations, no matter where the dollar is.