Are you and your firm feeling the effects of globalization? Today, globalization, the integration of markets, nation-states, and technologies,¹ impacts nearly every business, including yours! The internationalization of markets and technological progress in logistics, distribution, and communication enable nearly every business to buy, sell, and cooperate in global markets, allowing their customers to locate the best product offering. As a result, you and your firm operate in a worldwide economy responsible today for 40 million U.S. trade-dependent jobs² and approximately 6 million U.S. factory jobs³—roughly half of all manufacturing employment, whether or not they have any interest in global business activities. In the face of globalization, small businesses like yours must evaluate their strengths, weaknesses, opportunities, and threats and then develop strategies that effectively respond to the globalized business environment in which they operate. And those companies that do not recognize this trend will likely become a fatality of globalization. If you and your firm are growth oriented—–and what business is not?—you should grow global markets as an important strategic option allowing you to do the following:

• Reach new customers/markets with little or no competition;

• Reduce their dependence on a limited number of major customers;

• Even out business cycle-related demand fluctuations;

• Extend the life of niche products to new markets; and

• Develop a global network of contacts and partners that improves their offerings to established customers.

Long-term exporters are self-assured, adaptable, and resilient in selling to a more diverse group of customers.

How can you sell abroad? If you want to grow and internationalize your income, determine what among your products and services you can export, picking up the transaction tools that ensure you avoid risk and get paid by international customers. Grow your global markets by developing essential internal international business expertise, or, with the backing and full support of management, hiring an international business specialist and/or retaining an international business consulting company. You will need this expertise to assess your export potential, develop an effective global strategy, research countries and markets appropriate for your products and services, and develop a marketing plan/communication strategy that ultimately results in contracts to ship your product and deliver services to previously untapped global markets. It is doable and you and your team can do it!

The demand is out there. You should be too! Thinking bigger pays off. Borders should not be blockers. Grow beyond them. You may feel apprehensive? You should view these challenges as opportunities to grow your business and develop additional competitive advantages beyond domestic shores. Many small- and medium-sized U.S. businesses, like yours, could be more successful and sustainable, if they would only export their products or adopt other international market entry modes. Some of your U.S. counterparts and competitors are already actively engaged in global markets. Others have yet to begin. Don’t be afraid and hesitant. Overcome any fears; learn the tools and tactics and simply “grow beyond them.” If you and your firm are a small- to medium-sized business, shouldn’t you consider growing your global markets now? It has never been easier with the Internet and other advanced communication technologies.

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The Apress Business Team

In essence, this book is a comprehensive primer for aspiring and current exporters and others who want to simplify their global market entry; discover exportable products and services; and determine and select their best target market entry alternative, while ensuring they are paid. U.S. small- to medium-sized business owners ([SMEs] with less than 500 employees) interested in global business will learn how to overcome the most significant challenges and barriers to entering foreign markets.

Interestingly, based on research⁴ conducted in a survey of 530 small business owners in 2016 by the National Small Business Association (NSBA) and its council, the Small Business Exporters Association (SBEA), small-business owners not currently exporting, perceive the largest barrier is a lack of exportable products and services. Thirty-seven percent of non-exporters said they do not know enough about exporting and are not sure where to start, and 24 percent cited concerns over being paid by their foreign customer, regulatory barriers, and complexity. When asked whether they would be interested in exporting in the future, if some of these concerns were addressed, 49 percent said they would. Among current exporters, Canada maintained its number one spot in terms of countries to which small firms exported, with Mexico, the United Kingdom, and China rounding out the top four. When it comes to emerging markets, SMEs cited North America, Northern Asia/Pacific Rim, and South America as the regions that hold the most potential for their future exports, and, notably, regions in which the United States has many free trade agreements. Grow Your Global Markets addresses these SME concerns.