The international markets fuel the growth of many small and home-based businesses. When starting your business, you should not limit your potentials by ignoring international realities.
Marketing to a geographic area outside of your hometown will boost your market share and help you keep pace with your competitors. Small businesses throughout the United States and other countries have gained international exposure and increased profits through exporting. In fact, the Small Business Administration (SBA) reports that small businesses represent 96 percent of all exporters of goods.
The advent of the Internet has made the daunting task of going global easier. Today’s home business owners are successfully adding international components to their marketing programs. Two principal strategies are commonly used: establishing a relationship with a business or individual overseas, and developing a Web presence that makes products and services available worldwide.
There are no hard-and-fast rules as to which businesses should export, and which should not. However, making the export decision requires careful assessment of the advantages and disadvantages of expanding into new markets. Here’s a checklist to help you determine whether your business can make it in the international markets or not:
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