A Tale of Two TrendsThe World Bank recently published a forecast for global growth which was recapped by Business Insider. Included with the report was a list of the 20 economies they expect to be most stagnant over the next three years. The list was largely populated by developed, Eastern European and Caribbean economies and included:
- Euro area
- St Lucia
- St Vincent
- El Salvador
If the US & Europe are going to be stagnant, where's one going to find growth?
McKinsey says it's clear"The world’s economic center of gravity shifts" and "Rapid urbanization is propelling growth across emerging markets and shifting the world’s economic balance toward the east and south. By 2025, it will create a “consumer class” with more than four billion people, up from a billion in 1990. Nearly half will live in the emerging world’s cities, which are set to inject almost $25 trillion into the global economy. Yet business leaders mostly ignore them."
Are you an ignorer? A lamenter? Or a DOER?Seems you have a pretty simple choice. Hang out, hold on and hope for better times....or....take your business to where the opportunities are.
And here's the point you might not realize. The process of global business development and selling internationally can be started easily and inexpensively. A strategic approach lets you maximize the return and mitigate risks. Selecting the optimal markets and creating the infrastructure required require expertise but not magic.
Think maybe it's time to grow your business by going where the growth is? Or do you really enjoy hammering your head against that brick wall?!