Issue 2 • 2022 17 FINDING INTERNATIONAL BUSINESS CUSTOMERS IN YOUR MIDST Often, using new information can help broaden understanding. For community banks, learning there are international business customers in their own communities, but in unexpected places, may also open their eyes. Many community bankers may not think they have international business customers in their midst. Yet, working with many of our client banks has shown us there are more out there than meets the eye. These businesses may be within your communities and could use international services, giving you more fee income and more ways to support your customers. Not only could there be existing international businesses in your neighborhood, but there are also domestic businesses planning on global expansion. A JPMorgan Chase business survey we reported on for our article, “Reaping the Rewards of SMB Optimism,”notes that 14% of small and midsize businesses (SMBs) anticipate expanding beyond U.S. borders in the next three years. Three places to find SMBs with international services needs: 1. Areas where there have been recent bank acquisitions. You might not think about international businesses when you think of bank mergers and acquisitions (M&A). Yet, we have found that some SMBs have lost their relationship manager through M&A activity and could be looking for someone else to address their international needs, among others. By Jay Kenney, PCBB n continued on page 18
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