How to Plan for the Global Expansion of a Small Business

Osaka

The rise and fall of the dollar has created an increase in the number of international consumers. As a small business, there are numerous ways you can profit from international business opportunities. These include registering your trademarks in foreign markets, building sourcing relationships at trade shows or finding an international small business partner who's looking for a way to break into your regional market. You can also expand globally by using the Internet.

Instructions

1. Seek out import/export opportunities. You will want to market more heavily to countries that have gained in strength against the dollar for export opportunities in the United States. Residents of these countries can purchase more.

2. 

   Create a product on behalf of an international business partner. Technical expertise is a huge consideration in these arrangements.

3. Purchase a firm abroad. This is rare for small businesses, which are usually lacking in the necessary resources to invest internationally. Nevertheless, it is a good way to break into foreign markets.

4. 

   Sell licensing to international business partners for distribution in their regional market. The best place to do this is in countries with a rising middle class.

5. Partner with other small businesses in international markets. You may find a small business looking for a similar goal in your home country.

6. Use the Internet to gain more information about your international customers and sales potential. The genius of the Internet is in its ability to disenfranchise big business by creating business models which are uniquely tailored to the client in everything from the purchase experience to product satisfaction.

7. Increase international sourcing efforts. Sourcing is a great way to build a reputation in a potential marketplace overseas. These efforts can also be used to build credibility in public relations and regional corporate affairs.

References

• D&B: Debunking Five Myths to Global Expansion

Resources

• bNet: Best Countries For Global Expansion