Few, if any, middle market businesses in the United States are unaffected by the global economy. Your companyâ€™s materials, supplies, and services might already be purchased from outside the U.S. Your customers might already be global companies located on the other side of the world. And even if they are not, our economy is highly dependent upon foreign countries purchasing and owning U.S. debt, which contributes to interest rate and economic volatility indirectly impacting your business.
According to the Bank of America Merrill Lynch 2013 CFO Outlook survey of CFOs, 62 percent reported buying materials or services from foreign companies, up from 47 percent the year before. With respect to all activities, 73 percent reported buying from, selling into, or having actual operations in foreign countries, a significant increase over the 54 percent of the year before.
As a middle market company, global consumer spending growth could fuel your companyâ€™s growth. With the widespread adoption of the social network culture in most countries of the world, accessing global customers is fairly easy. The issue to going global is the challenging laws, regulations, and financial challenges to delivering goods and services across countries â€” and, of course, getting paid.
The four key challenges facing middle market companies looking to establish operations in foreign countries are…
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