6 questions to ask if your SME business is ready to grow beyond SA’s borders
With this in mind, small and medium-sized enterprises , which make up 91% of privately owned businesses in South AfricaBut before taking this big plunge, FedEx, a leading global logistics partner, suggests first determining why a new market is profitable.
. This is why looking at digital analytics should be your first go-to for understanding where your customers are coming from. A rule of thumb: If your business is already receiving a substantial number of impressions, engagements, or orders from another country, it might be time to look into the potential of the market,” says FedEx
Finding markets where you have identified target consumer groups that might be interested in your goods or services is more crucial.When you don't need to make significant adjustments to your current products or services, expansion is simpler and more affordable. This does not negate the need for you to figure out how to present your goods in a unique way to attract and pique the interest of customers.
Costs associated with entering new markets include advertising, setting up local partners or distributors, and of course transportation. To make sure that all of your effort to enter a new market pays off with dependable delivery to your new clients, collaborate with a respectable logistics company. FedEx supports small businesses with shipping and delivery management services to ensure successful delivery completions.
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