How to Solve the $800 Million Problem That's Stopping Small Businesses From Expanding Overseas | Entrepreneur
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from Entrepreneur2 months ago
Running a small business in America today is anything but a 'small' feat. The challenges are enormous, from unpredictable supply chains to inflation to a maze of complicated regulations.
Entrepreneurhttps://www.entrepreneur.com/growing-a-business/how-to-solve-the-800-million-problem-thats-stopping-small/481563
Almost half (49%) of small business leaders agree that the complexity of international payments prevents them from expanding their operations abroad.
Entrepreneurhttps://www.entrepreneur.com/growing-a-business/how-to-solve-the-800-million-problem-thats-stopping-small/481563
Small and medium-sized businesses (SMBs) in the U.S. lost almost $800 million to hidden fees on international payments in 2023, impacting their global operational aspirations.
Entrepreneurhttps://www.entrepreneur.com/growing-a-business/how-to-solve-the-800-million-problem-thats-stopping-small/481563
Inflation, taxes, and regulatory barriers were also cited as key roadblocks to going global, discouraging many small businesses from pursuing international expansion.
Entrepreneurhttps://www.entrepreneur.com/growing-a-business/how-to-solve-the-800-million-problem-thats-stopping-small/481563
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#small-business #international-payments #global-expansion #economic-challenges #financial-regulations
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