Whether it helps them survive in a competitive local economy or lets them scale beyond it, foreign market entry can be a vital step for small and medium enterprises (SMEs) in emerging markets. But it also represents a major risk for a small business – one that can easily result in failure. Daniel DeValve of the William Davidson Institute highlights three case studies that explore the challenges Philippine SME owners faced in considering a move to a new market – along with the impact their decisions had on their businesses.
“Bring back some precious stones or money,” Thamarah Mathurin told her partner, François Boisrond, when he left home in 2014 to set up an export venture in Africa. However, the Haitian-born entrepreneur found the continent’s gemstone trade too precarious, unregulated, and too dangerous in some countries for business investment.
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