Understanding the Impact of the Global Economic Crisis on U.S. SMEs’ Trade Exports to BRIC
The global economy offers vast trade opportunities for U.S. businesses. United States’ SMEs are grossly under-represented in the global market. It is essential that U.S. SMEs adopt a global approach by expanding trade focus to include the emerging BRIC markets. Demographics and increasing purchasing power in the emerging countries of Brazil, Russia, India and China (BRIC) offer significant trade potential for U.S. SMEs export expansion. However, there are external and internal barriers to expanding beyond the NAFTA region. Free trade agreements reduce trade barriers, while creating opportunities for U.S. exports. Although US SMEs face their own set of challenges to expanding internationally, BRIC markets remain vigorous in spite of the world economic crisis. The paper describes SME trade activity and contributions to jobs, innovation and U.S. economic growth. Further it describes specific trade barriers to each of the BRIC countries, investors’ perceptions of BRIC’s stability and ability to partner with US companies and the industry sectors that have the most potential for US trade expansion to BRIC.
||United States SMEs, US Trade with BRIC, BRIC, SME, Globalization, Trade Barriers
International Journal of Knowledge, Culture and Change Management, Volume 11, Issue 3, pp.119-130.
Article: Print (Spiral Bound).
Article: Electronic (PDF File; 787.824KB).
Professor of Business, School of Business and Leadership, Dominican University of California, San Rafael, CA, USA
Dr. Jayati Ghosh is a Professor in the School of Business and Leadership at Dominican University of California. She has received grants from United Negro College Fund, Compton Foundation, National Science Foundation, and University of Wisconsin Systems. She has written a number of articles dealing with the AIDS epidemic and economic development in India and Africa. She co-edited the book HIV and AIDS in Africa: Beyond epidemiology (Blackwell Publishers, 2004). She served as a Social Councilor for Council on Undergraduate Research (CUR).
Professor of Business and Director, Institute for Leadership Studies, School of Business and Leadership, Institute for Leadership Studies, Dominican University of California, San Rafael, CA, USA
Dr. Denise M. Lucy is Professor of Business and Organizational Studies and Founder and Executive Director of the Institute for Leadership Studies at Dominican University of California. She is an expert in leadership and organizational change. She served for 28 years in as professor and academic administrative university positions as director, associate dean, dean and academic vice president. Her research includes articles and presentations on leadership development impacts on organizational innovation and change, leadership styles and team development, community leadership and corporate social responsibility. Her most recent research is also focused on micro-finance poverty reduction programs and small business enterprise. She has received grants from the James Irvine Foundation, Compton Foundation and Fletcher Jones Foundation.
Professor of Business & Director, MS in Management Program, School of Business and Leadership, Dominican University of California, San Rafael, CA, USA
Dr. Francoise Lepage is Professor of Business and Pacific Basin Studies in the School of Business and Leadership at Dominican University of California. She is also the Director of the M.S. Degree in Management. Retired from teaching, she also serves as the University’s Trustee Liaison and Special Project Director for the University President. She has 40 years as a professor and executive manager, including serving as the founding Dean of the School of Business and International Studies at Dominican. She is an expert on China and Asian business and economic development. Her scholarship focus has been economic development of Asia and SME trade.
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