9 Ways a Company can Profit from International Expansion?
In this day and age, companies of all sizes are looking to expand their audience into international markets. If your going to pitch to your boss why your company should go global, you may want to speak to the talking points below:
- Cost Reduction – Sourcing Materials in Local Economies
- Labor- Cheaper labor when companies outsource to companies that pay lower wages
Untapped Markets- Demand for a Product or Service may be larger in other counties
Currency- Companies can sell products in economies with strong currencies
Reduced Regulations- Countries may have loose regulations to increase economic activity which leads to greater revenue and profit
Capital Exchange- Capital can be bought and sold in new markets
Branding- The value of a brand or company can increase through globalization
Supply Chain- Take advantage of local supply chains for lean processes
9 Rapid communication through the internet makes it easy to improve business processes.