Executive Briefings

Technology Enables Small, Mid-Sized Companies 'Become More International'

Globally and in the U.S., a new breed of company - including manufacturers - are taking advantage of growth outside their home market and going international. To what extent are small and middle market businesses becoming more multinational? What's driving this trend?

Small and mid-sized companies, including manufacturers, are increasingly going international. In the past, much of the goods and services focused largely on the resources available to companies and manufacturers in their domestic markets and operating internationally required a physical presence in foreign markets. The focus was on the comparative advantage between markets. But now we are entering an age of global firms focusing on increasingly narrow specialization to gain their share of lucrative markets. Technology has been a driving force behind this trend. Technology has made information and making new connections more democratic, with companies being able to research online and network across borders more easily.

The onset of the digital age has allowed smaller companies to level the playing field against their larger competitors. Digital and online solutions have also cut costs and barriers to entry, especially in emerging markets. Even cross-border costs are getting less expensive.

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Small and mid-sized companies, including manufacturers, are increasingly going international. In the past, much of the goods and services focused largely on the resources available to companies and manufacturers in their domestic markets and operating internationally required a physical presence in foreign markets. The focus was on the comparative advantage between markets. But now we are entering an age of global firms focusing on increasingly narrow specialization to gain their share of lucrative markets. Technology has been a driving force behind this trend. Technology has made information and making new connections more democratic, with companies being able to research online and network across borders more easily.

The onset of the digital age has allowed smaller companies to level the playing field against their larger competitors. Digital and online solutions have also cut costs and barriers to entry, especially in emerging markets. Even cross-border costs are getting less expensive.

Read Full Article