Is it Time to Expand in the Global Marketplace?

Expanding your business into the global marketplace seems like a growth strategy in strong economic conditions. With dwindling resources and eroding profit margins, how can one look beyond a troubled backyard into the bigger world? In fact, why look beyond your backyard when everyone's neighborhood is crumbling? Consider the recent headlines:

• Downturn Starts to Hit Emerging Economies - Washington Post
• Japan: The Recession Is Here - Seeking Alpha
• German, French Economies Shrink as Spending, Investment Falter - Bloomberg

A fear of a global recession is permeating the media and investors around the world. Is exporting a reasonable business strategy? I feel it can be a viable solution for some small businesses. Not every country or every market is in the same state as America. Markets contract and expand at different times. More importantly, your market may have been reduced 50% in the U.S. but the larger global market even at declining rates can help shore up your eroding business.

For those brave enough to enter into the global marketplace, education is tantamount. Resources such as the U.S. Government's Export portal provides opportunity sourcing, regulation handling and educational sessions. Upcoming events cover exporting to various global markets including the Middle East:

• Made in America Trade Fair for the Middle Eastern Buyers (October 9-11)
• Women & Minority Trade Mission to Jordan and Egypt (November 15-20)
• Arab Health Trade Fair (January 26-29, 2009)