If you are a US company, you are fortunate to be operating in the most viable homogeneous combined marketplace in the world. So, why might you want to risk the potential pitfalls of going international? It's not for everyone, but there are a number of excellent benefits, especially for companies in the right industries. Obviously, the first benefit is the advantage of increased market size.
By going international, you open your products and services to a much broader marketplace including many prospective customers and/or clients who may not be able to obtain them otherwise. And in the current financial market, while the US Dollar is weak relative to most foreign currencies, your products and services may be a bargain relative to prospective competition. But there is another, often overlooked benefit to this move. If you want to grow your business and become a serious contender within your industry, a viable international business is a necessity. The ability to be successful in the international marketplace represents a hurtle, an accomplishment that sets you apart from others with less ability. And, if you are seeking funding or financing for expansion, it is an imperative.
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