How should a business strategy be developed to expand a business in an international market?

How to Develop Strategy to Expand a Business in an International Market Laura Nash Walden University How to Develop Strategy to Expand a Business in an International Market Even though businesses are confident of going global, challenges like high taxation, language barrier, cultural variations, and regulatory differences (US Forex, 2016) inhibit the prospects. According to a report by US Forex (2016), about 58% of American small businesses have international customers, and 50% have foreign suppliers. About 98% of the small companies are courageous of pursuing global expansion. The report also revealed that 72% of executives of small companies expected to go global in 2017 (US Forex, 2016). The general problem is that small business owners, who fail to expand to the global scale, are likely to experience low profitability from their operations and become less competitive. The specific problem for most the small businesses is the lack the strategy to enter and compete in the global market. The specific business problem is that some small business owners lack strategies to enter and compete in the global market to increase profits. The purpose of this qualitative multiple case study is to explore strategies business leaders use to enter and compete in the global market to increase profits. The study will involve at least ten American small businesses that have succeeded in the global market and profiting. The reason for opting for American companies relates to their significant openness that may supply adequate and…

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