CNN Money Magazine
January 9, 2012
By, Ali Velshi
(MONEY Magazine) — With the pro basketball season finally starting, I find myself repeating the scalper’s refrain, “Who’s buying? Who’s selling?” But I’m not thinking about tickets; I’m thinking about business, and small business in particular.
The world economy is expected to grow by 4% in 2012. The U.S. and the eurozone will expand at less than half that rate. So, like the scalper, if you’ve got something to sell, you’ve got to stand on the corners where the buyers are. If you own a small business, or are in a position of influence in one, that means looking to export to, or expand into, emerging markets.
“The consumers are overseas; people need to wake up,” says Sandra Westlund-Deenihan, president and design engineer at Quality Float Works.
Employing 27, her Schaumburg, Ill., firm makes and distributes metal float balls used to level liquids in industrial settings. The company has had contracts with energy and utility companies in more than a dozen countries over the past decade, and Westlund-Deenihan says the weak dollar makes this a good time to be venturing abroad.
But where do you go, exactly? Ernst & Young recently looked at 25 fast-growing markets that offer great opportunities.