American Small and Mid-Sized (Medium) Businesses Are Going Global- Click here http://bit.ly/nDUAUf for full article

American Small and Mid-Sized (Medium) Businesses Are Going Global- Click here http://bit.ly/nDUAUf for full article  

The current trend in small and mid-size (SMB) American businesses is to go global. According to the recently released results of a study by Portfolio.com, technology is enabling even the smallest business owners to market effectively to a global audience.

Global business has traditionally been the domain of huge multinational corporations with annual revenues in the hundreds of millions. Standard business practices required offices in different countries staffed by qualified local talent to effectively manage operations in various regions of the globe. Today, capital investments of such magnitude are not required to be an effective player in the global marketplace. The Internet is playing a critical role in opening global markets to American SMB owners.

The study was conducted by The Business Journals and there were a number of important statistics revealed. 79% of SMB owners use the Internet as a key component of their international business strategy. 58% have incorporated social networks into their business plans and 62% are using the Internet to directly sell their products and services.

Overall, a SMB with a global business strategy is likely to see higher returns than a SMB with a strictly domestic focus. The SMBs with a global strategy realized 32% sales growth while those without a global strategy saw only 20% sales growth over the same time period. That's $13.2 million versus $7.7 million.

Portfolio.com also reported that 6% of the American SMBs surveyed reported that while they currently did no business overseas, they expected to be doing so soon. Small and mid-size business owners should be aware that it is not as simple as accepting orders from foreign nationals though the their current Internet sales portal. Jennings Moss, the editor at Portfolio.com, warns that the learning curve can be steep.

Shipping options and currency conversion are some of the issues that need to be addressed when doing business internationally. It is also important to understand language and culture. A bridal company, for instance, may not want to market white dresses in China. White is a mourning color in China just as black is in America.

Moss suggests that SMB owners considering a global strategy reach out to the Small Business Organization and International Trade Organization. Both of these federal agencies can provide valuable assistance to SMBs engaging in business overseas. With a larger market to target, SMBs are realizing real and sustainable growth by employing global strategies.

If you want to go global the best way is to create a strong International online presence. The best way to build a global audience is through a well thought out and executed social media strategy. Visit www.newmediaplus.com/social-media and start working with New Media Plus today!