What advantages and risks does going global offer a small business owner?
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This a good question.
The positives of "going global" are great. For example, an owner can reach a huge market. In other words, there are tons of potential new buyers. The owner of a company can also produce good around the world and take advantages of prices. Some places produce materials and good cheaper than other places.
With this said, there are also negative aspects to consider. First, there are added risks. To reach a global market means that you need to know so many customs, rules, and regulations. Mastery can be hard and mistakes can be many. Second, quality control in a global market is hard. If quality suffers too much, you might lose your reputation. Finally, there is also the cost of transportation.
In short, a company needs to be wise and consider the pros and cons.
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