Entrepreneurs may consider global expansion for several reasons, including:
Market Diversification: Reducing dependency on a single market can mitigate risks associated with economic downturns. Competitive Advantage: Entering new markets can help outpace competitors who are confined to local or regional markets. Economies of Scale: Larger operational scales can lead to cost efficiencies and better profit margins. Innovation: Exposure to different cultures and market needs can inspire new products or services.