Is 2016 the Year to Grow Your Business Internationally?

By the small business content developers at

Take a moment to look back at 2015. Was it a good year for your small business? Did you establish a firm foothold in Canada? If so, it could be time to expand the reach of your business beyond our nation’s borders.

Why Going International is a Good Idea

The bigger your company’s reach, the faster it can grow and the more sales it can make. While Canada is still a large market, if your products appeal to a wider audience, you’ve got the potential to really take your business to the next level.

Ask yourself these questions to determine if growing your business internationally is something you should consider in 2016.

Have You Saturated Your Growth Potential in Canada?

If you’re not seeing much growth in your market share here, there may be little opportunity for capturing more in the future. Now could be a good time to research the countries where there is good opportunity in your industry. Consider developing countries that might have less competition in your field.

Do You Have the Staff to Support Expansion?

If you’re a one-person show, it might be overwhelming to try to grow in new markets, but if you’ve got the staff (or the budget) to help, it could be a breeze to expand your business. You’ll need someone to oversee the expansion effort, so make sure you can devote a full-time staff member to the job.

Which Countries Should You Consider?

The US is an obvious choice, but look further: are there countries where your product can thrive in a quieter competitive landscape? Or countries where you could save money on production or distribution, thereby increasing your profit margins?

What’s Your Long-Term Goal?

If you plan to retire in five years, global dominance might not be the best item to add on your to-do list. But if your goals include increasing revenue and your customer base, expansion should fit the bill.

Before You Dive In

If you do decide to grow your business in other countries, make sure you do your due diligence first. Every country has different laws about imports and selling, so you need to understand the hoops you’ll have to jump through, as well as the fees you’ll have to pay to play.

Expanding into other countries with your products provides the opportunity to grow your business quickly and expand your customer base.

By Andrew Patricio

November 04, 2015