It is claimed by many that small businesses are the new face of international trade.
The prospect of extending one’s product or services to millions of potential customers stands as a tremendous opportunity for SMEs operating in today’s hyper-connected global economy.
Mauritian SMEs are no different. We have the will, creativity and drive to reach new shores through our creations and ideas.
The “Internationalisation” Process is risky as there are variables at most corners. Both SMEs and multinational companies still make costly mistakes when trying to commercialise products internationally.
Why? Inadequate and undue focus given to marketing strategy and planning.
Successful SMEs address cultural and population-led differences through their marketing strategies. It is argued that these smaller retailers have greater potential in international markets than larger retailers weighed down by organisational preconceptions but have to overcome barriers resulting from expansion stimulated by competitive strategies of differentiation, and driven by entrepreneurial vision and networks.
How to make the best out of this opportunity? The same success-ridden process – CONCEPTUALISE, STRATEGISE, IMPLEMENT, OPTIMISE.