This document provides an overview of global opportunities for small businesses. It discusses how globalization has encouraged more small businesses to expand internationally. Some key points include:
- Small businesses and startups are responsible for about one-third of US exports and many launch with the intent of engaging in cross-border business.
- Global expansion allows businesses to access larger markets, resources, lower costs, and take advantage of location-specific opportunities.
- Common strategies for small businesses to engage globally include exporting, importing, licensing, franchising, strategic alliances, and establishing foreign facilities. Each strategy has advantages and challenges to consider.
- Expanding into international markets requires understanding foreign business environments and adapting operations accordingly.