For entrepreneurs and small businesses that want to expand overseas, a new study released today, February 8, 2013, by DHL Express and IHS shows that businesses engaged in international markets are twice as likely to be successful as those who only operate in their home countries.
Information and analytics firm IHS surveyed 410 small to medium enterprises (SMEs), and their findings revealed that 26 percent of companies that serve international markets outperform their competitors, compared to 13 percent of companies that only serve their home countries.
“The strong correlation between improved business performance and cross-border trade suggests that there is a clear benefit for SMEs in going global,” said Ken Allen, CEO, DHL Express, in a prepared statement.
The study also found that companies founded in the last five years are more likely to be international businesses than their older counterparts, even though they have had less time to grow. Additionally, the majority of top-performing SMEs also planned to expand their global presence over the next three years.