B2B firms are increasingly looking to expand their businesses on a global scale, according to industry experts.
Convening at the American Business Media and International Federation of the Periodical Press World Conference last week, industry professionals agreed that as B2B firms seek growth on a global scale they must decide which strategy will yield the best results, reports B to B magazine.
Firms were advised that they have to decide whether to build an overseas unit from scratch, enter into a joint enterprise, syndicate, buy an existing company or license their brands and content.
Charles Engros, managing partner at Morgan, Lewis & Bockius, pointed out that experience with multinational deals helps buyers and sellers become more familiar with the “nuances” involved in international business.
He warned however, that cultural differences still exist, which makes it necessary for a process of education to take place on both sides.
Scott Mozarsky, chief strategy and development officer for United Business Media’s PR Newswire, added that revenue growth is often very high in emerging markets, which makes branching out globally a potentially lucrative move.
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