2015 US Small Business Global Growth Report
Globalization has no doubt resulted in tremendous economic benefit for the world, but there is an underlying tension that not everyone has fully benefited from the integration of the global economy. This tension is magnified in the US where some feel that globalization only helps large companies and harms local small and medium sized businesses [SMB]. Traditionally, large businesses have been able to take advantage of having access to the world’s customers because of the tremendous capital investments and infrastructure required to directly engage in global commerce. Technology is changing all of this.
Small businesses, for the first time in history, are utilizing the Internet and the services built on top of the Internet to go beyond their local consumer base and reach out to the world. These micro-multinationals are able to compete in the global market, while maintaining a local physical presence. The economic and social benefits that are being created as a result of this new trend are astounding.