Dang Thanh Trung
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Join date : 2014-02-24
 |  Subject: The global marketplace: Global Marketplace Opportunities  Thu Apr 24, 2014 10:12 pm | |
| 1. Import/Export is at the heart of the global marketplace. However, given the current economic environment, export is hotter than import. Consider marketing more aggressively to the following countries, whose currencies have gained plenty of strength against the dollar in recent quarters. Residents of these countries can purchase more, in dollar terms, than they ever could before.
- European Union countries, especially Great Britain
- Canada
- Slovakia
- New Zealand
- Turkey
2. Produce a product on behalf of a foreign firm. The dollar's weakness also means that American labor is more attractive to Euro-holding buyers. In addition to this economic reality, America retains a great deal of experience and technical know-how. Together, these factors mean your firm might be able to profitably manufacture products on behalf of companies in other countries. 3. Invest in a foreign firm. Bear in mind that this is likely a shaky proposition for most small businesses, which probably lack the resources to conduct the due diligence and invest in foreign companies. 4. License your product to a foreign firm. China makes the most sense in this category, as the country has a rising middle class eager to buy American goods as well as low-cost manufacturing resources. Build your brand, then convince a foreign company to manufacture your products for its regional market. 5. Partner with an existing foreign firm. There are all kinds of potential business partners in the world today. Some companies want to invest capital in America, while others want to manufacture American products. Still others are looking for partners who can help them complete one-off business projects. One way to get started is to contact the invest in America representative for your state. These contacts can tell you more about how to better position yourself to receive foreign investment. 6. Invest directly in a foreign branch with domestic management. If you really want to expand, you'll eventually have to open up shop abroad. When you do so, the less risky option is to manage the branch yourself. However, this will involve not only significant investment, but also worry, as you will have to travel frequently and navigate the laws of the country in which the foreign branch is located. If you have a trusted business partner who can take charge of a branch in that country, this becomes a more attractive option. 7. Invest directly in a foreign branch with foreign management. This is an extremely unlikely option for most small businesses, who, unlike multinationals, lack the resources to govern managerially and operationally separate international branches. |
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