We are in the era of borderless commerce, which is driving the next wave of globalisation, and thereby it becomes imperative for companies that have not yet expanded to tap into this space. Expanding into foreign markets has always been a strategic decision for growing brands to get access to new customers and markets. There are many such case studies that show how expanding globally enabled companies to take advantage of economies of scale.
The powerhouse of India’s economy, SMEs are at the helm of driving growth, creating jobs, and contributing to the country’s overall development and GDP. Going global provides SMEs with easy access to a larger customer base and new technologies, which further enable higher sales and revenue. While the opportunity is massive enough, there are a few other factors that make it “the best” time for SMEs to go global.
DIGITAL TRANSFORMATION & E-COMMERCE
This story is from the April 2023 edition of Entrepreneur magazine.
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This story is from the April 2023 edition of Entrepreneur magazine.
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