Having an international presence is one of the best choices a small business can make.
With the international consuming class expected to grow by 75% to 4.2 billion people by 2025, expanding your operations overseas will give you the opportunity to capitalize on international demand and enhance sales potential of your current offerings.
In addition, you get to source products from low-cost countries and recruit skilled individuals.
But while global expansion increases your potential for growth, it’s not without challenges. A major one is international payments. Conventional banks often put hefty fees on international transactions for businesses. Also, managing business finances across multiple currencies is no easy feat.…Continue reading