Small Business Management 1

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Small Business Management Name: Institution: Date of Submission: Every enterprise whether big, medium or small faces new challenges when expanding into new markets. The risks are enormous, and so are the potential returns and gains. Therefore extension into a global network requires a lot of support and assistance. A small firm should first research by exploring the sources of information to decide going global. U.S government provides publications on how to go global, Small Business Administration (SBA) also give support to small firms expanding. The government has its trade counselors attached to its diplomatic posts abroad like the embassies who present important markets to small business growing internationally. Another source is SBA-sponsored in the title Take your Business Global. It provides a synopsis of exporting which is useful for both new and old exporters. Other sources include Financial Times, The Economist, The Wall Street Journal, Private organizations, and States. Importance of these sources is that the companies can be able to expand without too much cost of collecting primary data and other risks involved. Marketing Research for Small Businesses Small business owners should first collect and assess marketing information before writing a marketing plan, which will be stronger than one with a basis of intuition and individual observations (Longenecker et al., 2013). The nature of marketing research is defined as processing, gathering, interpreting, and recording of market data. Due to high expense, big companies are likely to conduct stronger research than the small firms. Marketing research is a process that takes several steps (Longenecker et

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