Entrepreneurs Looking To Expand Markets
Written by Ken Gaebler
According to an Ernst & Young report, economic challenges haven't distracted small businesses from targeting growth and expansion goals.
The largest global companies are keeping their focus primarily on the present economic challenges, but entrepreneurs are increasingly looking to get ahead while expanding to new markets, according to a new survey.
Ernst & Young, the global consulting company, said in a new report on entrepreneurship that bad economic news for small business owners hasn't stopped them from seeking new opportunities to expand at the same time they juggle current customers who may be hurting.
"A strong focus on core niches in both new and existing markets will help insure that resources are directed at driving the greatest value," Ernst & Young's report said.
Meanwhile, some customers will continue to struggle as the global marketplace shifts and readjusts to the changing dynamics of global finance and trade.
Entrepreneurs need to reinforce their procedures for handling customers in bankruptcy while not taking their eye off the space opening up in neglected and under-served markets in this time of opportunity.
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