Business

If you feel like your company has hit a growth ceiling, it might be time to look into expansion. Several markets exist outside of the popular and competitive choices that are eager to explore new brands from international retailers.

Why Untapped Markets Are an SMB’s Greatest Opportunity

The U.S. is the world’s top spender. In 2023, consumer spending in the country reached $18.8 trillion — more than double the amount spent by China, the second nation on the list.

When a business relies on a single payment processor, it exposes itself to bottlenecks that can directly affect revenue flow. A short outage, regional limit or compliance issue can block thousands of transactions and immediately impact income. These roadblocks drive more enterprises to venture toward multiple payment service providers (PSPs) to keep transactions flowing.

With the increasingly regulatory financial environment, it is essential to know and clarify Ultimate Beneficial Owner (UBO) of a business to observe and ensure compliance and minimize risks of fraud. With the growing sophistication of financial crimes, regulators around the world have given a significant focus on UBO compliance as one of the components of anti-money laundering (AML) frameworks. UBO identification is not a mere regulatory requirement, but also an effective risk management tool that helps companies to establish transparent business relations and protect themselves against illegal operations.

Conducting a physical security audit is essential for businesses that want to safeguard their people, property and information. It systematically examines the facility, policies, technology and human factors to discover weaknesses in how an organization protects its physical assets. Done well, it helps prevent loss, legal liability, damage to reputation and operational disruptions.

Small pets may be tiny, but the industry supporting them is anything but small. The global guinea pig cage market is currently valued at $455 million and projected to surge to $715 million by 2033, while rodent accessories overall are forecasted to double to $2.5 billion in the same timeframe. While millions of U.S. households own guinea pigs, rabbits and other small animals, species-specific data is limited. And, safe, high-quality habitats remain an overlooked gap in the broader pet economy.

Trade shows open doors of opportunity to growing businesses much more than months of cold calling can. They offer a concentrated environment to put your company out there, engage with potential customers and connect with industry peers. While it’s an exciting venture, first-time exhibitors often underestimate the preparation necessary and overestimate the walk-up interest of the crowd. This can make them miss out on simple opportunities that knowledgeable competitors readily seize. 

Before committing your time, budget and reputation to your first expo, here’s what you should know.

Choosing your company’s most beneficial data collection type can dramatically improve your marketing strategy. Client information can help your small business’s design and marketing team better understand your customers, which can boost growth and create more effective engagement. 

Finding a suitable service for your small business is extremely important. You must consider the pros and cons of first-, second- and third-party data collection to determine what’s best for your company.

Nearly every business with a physical location needs signage to guide customers and employees and comply with legal requirements. From restrooms to emergency exits, signs ensure people know where to go and how to respond in critical situations.

Agencies like OSHA and the ADA mandate specific signs to promote safety, accessibility and compliance. These regulations are the result of years of research and real-world experience, designed to protect people in emergencies and everyday scenarios. Signs make life easier by sharing valuable information, indicating accessible entrances or providing instructions during a power outage. Small business owners should prioritize signage to create a safe, welcoming environment for all.

Many entrepreneurs dream of expanding their reach, customer base and industry impact. However, the scaling journey is filled with financial complexities that, if overlooked, can quickly transform a growth opportunity into an unforeseen challenge. Discover signs that indicate if a company has the required fiscal resilience for successful and sustainable scaling.

You might have nailed your local delivery strategy, but taking the same approach to national or global markets can lead to serious headaches. What works for neighborhood drop-offs or regional partnerships does not always scale when you are shipping across borders, navigating customs or trying to meet international demand. It is essential to understand how distribution shifts as your reach grows.

Each level brings new logistics, compliance and customer expectations. Here are a few examples of how global distribution compares to nationwide strategies.