Technology is shrinking our world into a smaller, easier place to do business and is fundamentally reshaping our lives. Here are ten reasons why going global is advantageous to your company.
1. Increases sales and profits (especially if fixed costs are tied to domestic operations) = bigger chunk of growth gain.
2. Earns a greater return from a set of core competencies.
3. Generates economies of scale in production.
4. Enhances local competitiveness and paves the way to larger, more lucrative customers.
5. Create jobs, productivity growth, and wealth.
6. Enlarges the pie of potential investors.
7. Insulates seasonal domestic (local) sales by finding new foreign markets and selling excess production capacity.
8. Cuts costs through global outsourcing.
9. Reduces dependence on existing markets.
10. Capitalizes on tax advantages.
The knowledge you gain from learning the ropes of international business will make you open to new ideas, new approaches, new marketing techniques, new customers and new confidence to take on the world!
Posted by: Laurel Delaney, The Global Small Business Blog