Article Author: Sang T. Choe, Hendrix Magley

Among the various ways global firms can market their products and services overseas, exporting is a fundamental function in doing business internationally - regardless of the mode of entry. From simple indirect exporting, where someone within the home country (e.g., an Export Management Company or EMC) handles the process, to more complex entry strategies such as foreign direct investment, exporting remains foundational. Exporting, the oldest form of international business, involves a transaction between buyer and seller in different countries. Quite simply, exporting happens when a business sells a product or services to a customer abroad. Despite its importance, only about 1% of U.S. businesses export, and only 25%of manufacturers export (Kogon 2021). The global impact of tariffs – such as those recently imposed by the U.S. – demonstrates just how central exporting is to global trade, affecting over 200 countries in the world. Politicians often advocate for increased exports to imports to improve the balance of trade, while business firms seek foreign markets for greater profitability and future growth. Because of its nature as a fundamental function for international business, most companies entering international markets start by exporting tangible goods produced domestically and sold abroad

Keywords: Participatory Budgeting; Public Management; Fiscal Governance; Deliberative Democracy; Municipal Innovation; Hungary

Article Review Status: Published

Pages: 23 - 30

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