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The world may be shrinking, but the global economic pie just keeps getting bigger.
In 1980, the U.S. accounted for more than a quarter of the world’s GDP. Today, it’s less than 20 percent, and by the middle of the 21st century, the U.S. percentage of the global GDP will be in single digits. And America isn’t falling behind—the rest of the world just keeps growing.
This presents U.S. companies with tremendous international growth opportunities, and the U.S. Middle Market is primed to take advantage.
However, at a recent event sponsored by Womble Carlyle, National Center for the Middle Market Executive Director Tom Stewart said that Middle Market companies have been slow to embrace international opportunities. Only one-third of U.S. Middle Market companies (defined as having annual revenues of $10 million to $1 billion) have global operations, Stewart said.
In a January 2015 article, Brandt Handley, Managing Director of Resource Options International, Inc., offers some benefits for Middle Market companies in the global marketplace. Handley said global expansion can:
As emerging nations such as China and India continue to grow, their demand for goods and services will grow, too. International expansion requires careful planning, but with the right strategy in place, U.S. businesses just might find their next customers halfway around the world.
Did You Know? Womble Carlyle’s Global Business Team guides U.S. Middle Market companies in establishing international operations and in cross-border transactions. Contact Randy Hanson at email@example.com for more information.
Womble Carlyle serves the Middle Market. Get to know us on Twitter at @WCSRTweet.