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Taking your business global

Once you’re content with your domestic performance, the next step is to look at going global, provided your product or business model is internationally transferable. There are several ways you can choose to go global, each with different degrees of difficulty, which you will need to examine in the context of your business.

One of the simplest methods is to license another business at the overseas destination to sell your product or service; another is to engage in direct export to international markets. For more ambitious businesses, setting up foreign operations and international franchising are two of the most expensive ways to go global, but are potentially the most profitable.