Latest news with #decisionmakers
Entrepreneur
4 days ago
- Business
- Entrepreneur
Should Your Business Go Global or Stay Local?
The small business owner's guide to choosing between local dominance and global growth. Opinions expressed by Entrepreneur contributors are their own. Today's SME management operates in an environment where business opportunities are spreading outside the city. Access to online tools and platforms makes the selling process very easy across borders. But is it meaningful just because it is possible? Is it always the right action to enter the international market, or does staying local lead to more sustainable success? It's not just ambition to choose between domestic and global markets. You need to fully understand the resources you have, the nature of the services you provide and the complexity associated with scaling up. In this article, we will justify the choices between them, backed by actual data, for the founders and decision-makers of SMEs. Related: Should You Go Global, or Consolidate Locally? Defining local and global market focus Before entering the analysis, it is important to define the meaning of local and global markets: A local market is a region where a business is being developed (city, county, region, etc.). Global markets mean expanding business across borders and selling products and services internationally. Each direction requires a different way of thinking, infrastructure and strategy. The case for staying local Doing business within the local market can provide clarity and concentration. SMEs often succeed by being rooted in the region and responding to known customer behavior. Advantages: Familiarity and relationships: Local businesses have the advantage of knowing their customer base personally. Face-to-face exchanges enable the establishment of trust, which is difficult to reproduce in international transactions. This familiarity reduces friction in marketing and service delivery. Operational efficiency: There's no need to control customs regulations, international taxes, language barriers, foreign exchange, etc. This ensures consistent quality and rapid service. Reduced financial risk: Usually, there is less capital investment required for local growth. There is no need to invest money into translation services, overseas transportation infrastructure or international legal advice. Supportive ecosystem: Most governments and municipalities offer grants and tax relief to companies that fit local demand. Disadvantages: Limited market size: Unless you develop a new customer base or diversify your offerings, the growth of your local business is likely to hit a wall. Susceptibility to regional fluctuations: A slump in the local economy (such as the closure of key employers) can affect consumer consumption patterns and sales. Higher dependence on repeat buyers: A low population makes it difficult to get new clients. The case for going global Crossing borders can bring great opportunities, but there are also several downsides you need to be aware of. Advantages: Greater revenue potential : International markets provide access to millions more customers, which boosts revenue potential. Economic diversification: By selling in multiple countries, you can play the role of a buffer. Even if one region faces a recession, demand in another region can stabilize overall income. Market demand for niche products: Depending on the product, you can find niche attractions that do not exist overseas. For example, handmade products, special foods and local designs may be more appreciated in overseas markets. Disadvantages: Complex regulations: Export regulations, taxes and various legal frameworks increase entry barriers. Shipping and fulfillment challenges: International shipping requires detailed planning, in some cases third-party fulfillment services, increasing costs and risks. Cultural missteps: Marketing campaigns and product positioning need to be adapted to different markets. Even if it works well in the United States, it may not work in other countries. Related: Small, Local Businesses Have a Competitive Advantage Over the Amazons and Ubers of the World, According to a New Report Hybrid strategy: Local foundation, global growth Some of the most successful SMEs start from a local footprint and expand globally in stages. This approach builds stability before being exposed to complex environments. Examples include: Ben & Jerry's: Started as a small ice cream parlor operating from a renovated gas station in Burlington, Vermont. The company now does business all around the world. Allbirds: Initially targeting local customers in New Zealand, the international fulfillment center was deployed after verifying product demand. Through a phased approach, there is room to test logistics, understand regulatory compliance and gradually build infrastructure. Key considerations before expanding Business owners should evaluate the following when considering options: Product suitability: Is the product or service universal? Do I need to consider compliance with labeling, safety standards, intellectual property laws, etc? Infrastructure readiness: Can current logistics and fulfillment systems meet international demand? Do you have a local partner or agency that can support global initiatives? Financial and human capital: Is there any cash flow or funds required for business expansion? Does the team have the ability to manage complex issues such as language, time difference and global customer support? When local wins The local market is often best for: Service businesses (barber shop, electrician, consultant, etc.) Regulated products (e.g., pharmaceuticals) Companies with limited management resources and strict cash flow When global is worth the risk Here's when you should consider global expansion: You're already in international demand due to online sales and organic sales. You have strong operational support (logistics, customs, fulfillment partners). Entering the growing international sector (e.g., educational software, special food). Related: 6 Obstacles of Expanding Your Company Internationally — and How to Overcome Them. There is no universal answer to which SMEs should aim for local or global markets. Both paths have attractive advantages and notable risks. The decision requires a clear understanding of the company's business model, customer and ability to manage complexity. The most important thing is not to scale up, but to grow strategically — in line with purpose, ability and long-term vision. In some cases, there may be more lasting value in staying small and concentrating on the local area than in quickly expanding into international markets. Also, global thinking can draw real momentum if done carefully and accurately.
Skift
13-05-2025
- Business
- Skift
The Unofficial Guide to IMEX Frankfurt 2025
With 63,000 business meetings happening across three days, IMEX Frankfurt is a maze of opportunity and overwhelm. Here's your tactical guide to getting real value from one of the industry's biggest events. Next week, 12,000 event professionals will descend on Frankfurt to make deals worth millions. Whether you're a first-timer or veteran, maximizing your ROI at IMEX requires strategic planning and ruthless prioritization. Here's what actually works: IMEX Frankfurt is one of the industry's largest trade shows. Around 12,000 meetings, events and incentive travel professionals will come together next week in Frankfurt. This annual Spring gathering dates back to 2003, and precedes IMEX America which launched in 2011. Just like at IMEX America, its sister show, at IMEX Frankfurt you can cross oceans and hop between continents just by crossing an aisle. This year, you can meet at the corner of Singapore, Canada and Sardinia. The real value of IMEX isn't just the global representation – it's the concentration of decision-makers in one place. Recent AUMA research shows one trade show visit replaces five separate business trips. At IMEX, you can compress months of relationship-building into three days – if you know how to work it right. Make no mistake, the show is intense, that is one thing veterans and first-timers agree on. Success requires being ruthlessly selective about your time. You'll need to embrace JOMO (joy of missing out) – because trying to do everything guarantees you'll accomplish nothing meaningful. It is important to plan carefully; these tips will help. Skift Meetings at IMEX Frankfurt 2025 Skift Meetings will cover news from IMEX Frankfurt throughout the week. The team also will present an educational session on Wednesday, May 21 (12:05–12:50 p.m.) at the Inspiration Hub (Forest Room) in Hall 9. The session, "Skift look at the latest, greatest hotels, venues and cruises for meetings and incentives," features Skift Meetings Editor-in-Chief Miguel Neves diving into key hotel and venue trends based on the "What's New in Meetings and Incentive Travel 2025" report. The report was created in partnership with IMEX and sponsored by Banff Lake Louise Tourism, Monterey Meetings, Tourism New Zealand, and Visit Lauderdale. No registration is needed, and all IMEX Frankfurt participants are welcome. Explore 135 exceptional new properties hand-picked for meeting and incentive planners The Basics IMEX Frankfurt 2025 takes place on May 20–22, 2025 in Halls 8 and 9 of Messe Frankfurt in Frankfurt, Germany. 2. English Is the Main Language The show may be in Germany, but English is its main language. All exhibitors speak English, many speak German and can run meetings in German and other languages. Almost all education sessions are in English, with some specific sessions in German, noted in the program. IMEX uses Wordly to provide live AI-powered captions and translation for education sessions. 3. Business Interactions Are the Core of the Show Like most trade shows, IMEX is all about buyers (planners) meeting with exhibitors (vendors/suppliers) to do business. In this case, to discuss booking hotels and venues, as well as other event-related products and services across the globe. Buyers and exhibitors use an online meetings system to coordinate meetings in advance. According to IMEX, buyers booked 63,000 meetings in 2024. IMEX Frankfurt show floor (Source: IMEX) 4. Planners Are the VIPs If you're a planner who regularly plans or commissions international events or incentive travel programs, you can apply to be a hosted buyer, meaning IMEX will cover your airfare and accommodation. Hosted buyers also have access to an exclusive lounge and other perks on site. Planners who pay their own way are also welcome and can register as buyer attendees. 5. It's Free to Attend The show is free to attend. Yes, visitor registration costs $0, or €0 in this case. It is not open to the public, but anyone with a professional interest in meetings, events, incentive travel, and related sectors is welcome. 6. The Show Lasts More Than Three Days The show runs Tuesday through Thursday, with floor hours from 9:30 a.m. to 5:30 p.m. (4 p.m. Thursday). Several education programs precede the main event. On Monday, IMEX offers specialized programs for association planners and corporate event planners . The Association Expert Seminar runs Saturday, May 17 through Monday. 7. Education Complements Business and Networking Education doesn't just happen before the show, it happens throughout the show. The main area for education is the Inspiration Hub, located in Hall 9, a separate hall 8. There's Life Off the Show Floor Too A lot happens off the show floor as well. Some companies have internal or client meetings, and associations hold board meetings around the show. There are also plenty of parties and networking, with breakfasts, lunches, and dinners around the show. Before You Go 9. Log In to Your IMEX account While the public IMEX Frankfurt website offers plenty of information, there is a lot more to see once you log in. This is also how you can connect to other attendees and save education sessions and other activities onto your schedule. 10. Download the App It may sound cliche, but downloading the IMEX app is a helpful way to access the exhibitor and education session listing, among lots more content. Once you login, you will see appointments and save sessions in the app, and can make changes that will synchronize with your dashboard. 11. Explore the Floor Plan IMEX Frankfurt's layout spans two main areas. All exhibitor stands are in Hall 8, the main area for networking and business. Hall 9 is the area of the show devoted to interactive learning and play. Hall 9 is also where you'll find the Inspiration Hub — the home of most education sessions — and the Hosted Buyer Lounge. In Hall 8, you can locate exhibitors based on their stand number, which is formed of one letter and three numbers. Letters (A–G) run from left to right as you enter the show and numbers (010–790) run from lowest closer to the entrance to highest at the back of the hall. The floor plan follows industry clustering: Hotels are grouped together and countries are organized by the same region. 12. Work Out What's On There are plenty of activities and gatherings happening on and off the show floor. Make sure you explore these as you are making your schedule. From exhibitor showcases and networking functions to a morning run and wellbeing sessions, there's lots to explore. Three evening events stand out and are worth exploring, Association Social (exclusive to members of select industry associations), SITE NITE Europe and the IMEX Gala Dinner . To balance the night-time activities, there is time for 'sweatworking.' The popular IMEXrun , a 5 kilometer fun run along the shores of the Main River, takes place on Wednesday morning. IMEXrun (Source: IMEX) Meetings in Advance Whether you are a buyer or not, book meetings with the people you can't afford to miss. They're busy, too. So, plan your time carefully and block out times for meals and other non-negotiables. 14. Try to Book Adjacent Meetings If at all possible, book your meetings so you don't have to traverse the show floor. This will save you time and help you keep your step-count reasonable. Traversing the show floor multiple times is a sure recipe for exhaustion, so make sure you refer to the floor plan when you make your meetings to make sure they are never too far apart. 15. Avoid Stuffing Your Schedule It's easy to have back-to-back meetings all day. Avoid this if you can. Things will pop up, and having some wiggle room will help. You may also want to consider freeing the first hour of the day to get your bearings. 16. Connect in Advance Don't wait until you are on site to start networking. Instead, connect with people online and start those critical conversations, particularly if you are meeting for the first time. Connecting the dots before you meet is a great way to make the most of a busy show. 17. Block Your (Non-IMEX) Schedule It may be tempting to try and have a typical work week while taking in the show on-site. Avoid this at all costs. Trying to do both is a sure recipe for disaster. If you've invested the time in being at the show, ensure you are fully present. Do yourself a favor, set an out-of-office message, and be present. 18. Plan Your Way to the Show Planning local travel is important. Arriving by train to Messe Frankfurt is handy as the venue has its own station served by multiple S-Bahn train lines. You can also walk or take other transportation to one of the entrances to the venue. The most common is the entrance by the Maritim Hotel Frankfurt, where you walk or take a free shuttle bus to Halls 8 and 9. If you'd rather take a taxi, it will drop you off at the entrance to Halls 8 and 9. Note that if you are attending as a hosted buyer, you will have shuttle buses available to and from the airport as well as to and from your hotel. 19. Make a Packing List Comfortable shoes : These can be formal or casual, but have to be comfortable. Best avoid brand-new shoes that haven't been broken in. : These can be formal or casual, but have to be comfortable. Best avoid brand-new shoes that haven't been broken in. Reusable water bottle : This is the best way to stay hydrated, and there are plenty of places to fill up across the show floor signaled on the floor plan. : This is the best way to stay hydrated, and there are plenty of places to fill up across the show floor signaled on the floor plan. Healthy snacks : Consider having a healthy snack, like a pack of nuts, in case you need a boost of energy during the long days. : Consider having a healthy snack, like a pack of nuts, in case you need a boost of energy during the long days. Business Cards: Whether you prefer physical or digital business cards, ensure you are ready with them. Bring any other materials you need. Come prepared to do business. Whether you prefer physical or digital business cards, ensure you are ready with them. Bring any other materials you need. Come prepared to do business. Passport: Unless you live in Germany or within the Schengen region, you'll need a passport to enter the country. You are unlikely to need it during your time in Frankfurt though, so best store it safely in your hotel safe. Unless you live in Germany or within the Schengen region, you'll need a passport to enter the country. You are unlikely to need it during your time in Frankfurt though, so best store it safely in your hotel safe. Euros: While credit and debit cards are widely accepted in Frankfurt, cash (€Euros) is king, and it will help some purchases move along much faster. While credit and debit cards are widely accepted in Frankfurt, cash (€Euros) is king, and it will help some purchases move along much faster. Your name badge: IMEX sends all attendees name badges digitally and encourages printing in advanced. On Site 20. Help is Available If you need assistance, a good place to start is by heading to the help desk at the entrance to Hall 9. You can also look out for IMEX staff, they know the show in-depth and are always ready to help. Lastly, you can simply speak to the help staff wearing red as you enter Hall 8. First timers tour at IMEX Frankfurt (Source: IMEX) 21. Carry Your Business Cards With You Assuming you packed them, or opted for a digital business card, make sure you are ready to share your contact details with people you meet. 22. Get the Lay of the Land Navigating the show is tricky, even for experts. When you first arrive, take a few minutes to explore the whole show (both Hall 8 and 9) to get your bearings. If you don't have appointments booked first thing, this is a good time to do so. In Hall 8, the larger and taller stands are good reference points; make sure you get the hang of how stands are numbered (see tip #11). 23. Stay Connected You always want to stay online in case schedules change or if you want to look something up. With this in mind, ensure you have a firm 5G connection or check the available Wi-Fi hotspots. Many spaces on the show floor offer Wi-Fi, so be on the lookout. You may also want to bring an extra charger and charging cables. You will likely run out of juice. 24. Education Is Mostly at the Inspiration Hub The Inspiration Hub — located in Hall 9 — is the main area with education content at IMEX Frankfurt. There are around 200 sessions taking place there throughout the show. So if you have some free time, explore this area. Most sessions are open to drop-ins, and many use formats like campfires allow small group engagement with top speakers and experts. Forest Room, Part of the Inspiration Hub at IMEX Frankfurt (Source: IMEX) 25. There's More Education on the Show Floor This might be confusing at first, but there are plenty of exhibitors offering educational content at their stands. It's a good idea to explore these options too. 26. Locate the Hosted Buyer Lounge If you're attending as a hosted buyer, you can access a dedicated Hosted Buyer Lounge. Use it. You can take some time off, get refreshed, and much more. There is also dedicated IMEX staff at hand to help you, so don't be afraid to ask for help. 27. Practice Self Care Make sure you drink plenty of water. We tend to talk a lot at trade shows, so don't let your throat dry up. You are also encouraged to join the IMEX Wellbeing Challenge and get rewarded for participating in a range of wellbeing activities. 28. Think in 30min slots Business meetings at IMEX happen in 30 minute increments. This is how the buyer-exhibitor meetings are scheduled. While some education and other activities may not follow this flow, it is important to be aware of it when you make plans. 29. Look Out for Exhibitor Activations Exhibitors use stand activations to attract buyers by showing off some of the most exciting things their destination or brand offers. This manifests in many ways, from dancing to massages and VR headsets to photo ops. As a result, there is plenty to explore in all corners of the show. IMEX Frankfurt Exhibitors (Source: IMEX) 30. Get Caffeinated Plenty of outlets sell coffee around the property, but looking out for great coffee being served at the larger stands is a nice hack. These activations are aimed at attracting buyers, so please keep this in mind. Most exhibitors are happy to invite visitors for coffee, and some even have creative baristas showing off their skills. 31. Enjoy Exhibitor Hospitality It's not just coffee being served on the show floor. Some stands have fully stocked bars and attract buyers with signature cocktails and mocktails. These are great networking opportunities, so make the most of them. Remember to pace yourself — IMEX is a marathon, not a sprint. 32. Raise Your Glass and Connect Later in the afternoons, from around 3:30 p.m. on Tuesday and Wednesday, many exhibitors host parties and networking receptions. This can be a lot of fun, but also quite noisy if you have a business appointment next door. Look out for fun activations and great food. 33. Don't Neglect Thursday It's no secret, Thursday, the show's final day, is considerably less busy than the first two. But, you can use that to your advantage. While the aisles are less active, the education program continues in full swing. Exhibitors can have more relaxed conversations with all attendees, whether they have a buyer badge or not. Some exhibitors swear that their best business and networking takes place on the last day. 34. Find Inspiration Through Your Network A top networking hack is to ask people you meet to introduce you to others. You can also ask them for their highlights of the show. Shows like IMEX Frankfurt bring together industry professionals who are connected in many ways. You never know who knows who, and this is a great way to lean on serendipity to build your network. 35. Keep Sustainability in Mind IMEX is known for taking sustainability seriously, including sharing a full report for each show. You can do your bit to help reduce the show's carbon footprint by using public transport, avoiding animal-based food, recycling your waste, and using a refillable water bottle. You can learn more about IMEX's sustainability initiatives at the IMEX People & Planet Theatre in Hall 9. Sustainable Event REport - IMEX Frankfurt 2024 (Source: IMEX) 36. Share Your Experience Online There is one way to be in more than one place at once: by joining the conversations happening online. You can share your experience or simply follow the IMEX accounts that share plenty of fun and useful content on Instagram and LinkedIn. You can also search for 'IMEX' or the #IMEX25 hashtag to see more content from others. After the show 37. Be Kind to Yourself An intense trade show is not kind to the body or mind. If all goes well you will leave with lots of business done, new or rekindled connections and plenty of fresh ideas. You are also certain to leave exhausted, so give yourself a little time to recover. 38. Follow Up Don't neglect your health, but equally, don't forget to grab the opportunities created. It doesn't matter how you follow up — email, LinkedIn, Instagram, or by subscribing to a newsletter, but do so soon after the show. Whether you are exhibiting or just attending, continuing conversations is the best way to ensure your investment in attending the show is not wasted. One last thing. Save the date for IMEX America , October 7–9 in Las Vegas, NV. Skift Meetings will offer a brand-new Innovation Lab the Monday (October 6) before the show, as well as covering the news from the show. IMEX Frankfurt's younger sibling is larger, attracting around 15,000 to Vegas in the fall, with a core focus on the U.S. market. It's the same but different, after all hosting an IMEX event is one of the few things Frankfurt and Las Vegas have in common.
