I believe it is the dream and desire of every business owner out there to grow Their business to the point where it can be seen globally and internationally if possible, no matter how small the business might be. What are some of the challenges do you think one might face.
Challenges of turning a small business into a global one
- Thread starter eldavis
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It is a very big job to execute but if you have enough capital to establish the business, it will become a global business very easily.
It is dream of every business owner but it is not easy to achieve. It involves proactive management, capital, partnership and huge business network. Capital is not the only thing needed, employing qualified and experienced professionals is a must.
I think all these things are a function of time. If you rush it, you would find difficulty. Just relax and enjoy systemic growth.
It takes time and a lot of efforts to turn a small business into a global one. Other than huge capital investment, having experienced, professional staff and good business connections are important factors.
The prospect of turning a small scale business into global one start from the determination and effort of all the stakeholders involved. This is not a unilateral decision of the business owners alone but all parties involved.
The biggest challenge is competition, you need to provide good services in order to win the competition.
- Thread starter
- #9
You have a good point there, a company or brand not known in its locality cannot be known internationally, not to mention globally. Which means the business owner needs to time to achieve this.
A small business that wants to go global should think of conquering the local market before you think of international expansion.
Every businessman dream to grow and grow, but here so many challenges are present. Small businesses are facing most prominent challenge is of lack of capital. Whatsoever the money they are earning they are just purchasing their required items for shop and to use to run their families.
