"The bad news is, there aren't a lot of African American businesses that are successful [in Africa]," says Sheppard, president of Diversity Restoration Solutions Inc., an international trade development firm that specializes in bridging U.S. businesses and organizations with their African counterparts. "But the good news is we should be able to take advantage of that potential because it's not saturated."
Opportunities are bountiful around the world and if black entrepreneurs are smart, insiders say, they'll look beyond their backyards to develop winning relationships, tap expertise, create jobs, and grow their businesses. The trend of doing business globally is growing as developing countries become more industrialized. According to a recent ChinaDaily.com report, in just the first six months of 2008, Chinese companies invested a whopping $305 million in Africa.
"Going international is where the growth appears to be and you should always go toward the growth," says Lorron James, marketing sales manager of James Group International (No. 78 on the INDUSTRIAL/SERVICE 100 list with $54.5 million in sales), a Detroit-based provider of global supply chain management services with client relationships in 16 countries, including South Africa, China, and Venezuela. Entrepreneurs are finding opportunities in manufacturing, agriculture, tourism, technology, and infrastructure. The question to ask is what need does a country have that your business can fulfill? Do extensive research. Then, take a chance.
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|Title Annotation:||GOING GLOBAL|
|Article Type:||Brief article|
|Date:||Dec 1, 2008|
|Previous Article:||The next big thing.|