Expanding your business on a global level marks an exciting point in your entrepreneurial career, but it can also be a daunting task. Review the tips and resources that we’ve compiled on international trade, import and export regulation, global sourcing and more, and learn how you can ‘Go Global’ with your business.
Introduction to Going Global
First, ask yourself if your start-up is running well enough domestically to give you time to focus on an international presence. Your next big task is to determine whether or not your product will translate overseas. Does your product have to be retooled or rescaled? Then, do a cost analysis. Is your product affordable in the local currency? You might find your bargain U.S. product would have to retail at a higher foreign price point, taking you out of the running in that market.
These are just some of the considerations you will have to make. Our Go Global Guide (coming soon!) is intended to help you understand what global expansion and exportation entails. In the mean time, you can visit the New York Public Library’s Small Business Resource Center’s International Trade pages.