International Markets

Although many new ventures tend to operate locally or online, there is considerable potential in international markets. Often the potential to start a venture in a particular international market originates as a discovery during a systematic search, in which an entrepreneur examining all of the information available about a given area of business detects an idea for a venture that answers an existing need. Different markets have very different needs, and the existence of multinational corporations should not be taken as proof to the contrary: Toyota, for instance, develops different vehicles in each of its major markets. The Toyota 4Runner sells very well in the United States but not in Europe, where roads are narrower and the market puts a higher priority on fuel efficiency. ...