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Strategic Considerations: Go East, Young Entrepreneur
This is my site Written by Neil Palmquist on April 11, 2012 – 8:47 am

Some fundamentals of the business landscape here in the USA are changing and small business needs to pay attention.  Namely, while the health of the United States economy has always been dependent on our small business sector, less recognized is just how dependent the US small business sector has historically been on its own economy.  The maturing of the US economy and weakening of our dollar could change this.

US small business has traditionally found its opportunities outside the USA limited… in large part due to the fact that only those in the US could afford US goods and services.  Historically this hasn’t been too detrimental to, as small business here at home enjoyed an ever growing economy and a consumer-base of the most spend-happy people on the planet.  However, the US has changed and now has what economists would refer to as a “mature economy”.  It is hard to fathom a catalyst that could return us to the growth rates of the past, as our consumer market is no longer robust and our savings are limited.

However, for the savvy entrepreneur, opportunities should always exist.  US goods are generally considered of higher quality than most similarly available goods from other regions of the world and with our ever-weakening dollar, the cost prohibitive barriers for US small business to compete overseas is diminishing.

In short, perhaps it is time US small business took another look at marketing and expanding abroad just as big business has.  China and India are obvious choices due to their still growing economies, however, even mature, first-world nations such as Australia and those in Europe may prove favorable given the new landscape.

Review your business fundamentals without the foggles of US regional-only, marketing norms and you may find a new path and energy to carry you through these harder times at home.

Best of luck…

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