Weighing the challenges and benefits of business expansion

Some experts agree that small business expansion during tough economic times is viable, perhaps even ideal.

Ted Mallett, chief economist at the Canadian Federation of Independent Business tells the Financial Post that with "compelling reasons" and a little help from technology, now may be the right expansion opportunity for some small businesses.

"The ability to service customers remotely, to communicate at any time and in many different ways, makes it easier to spread out," Mallett tells the news source.

So with a great web design, trained customer service, and an ecommerce portal anyone can go national?

Not quite, advise some experts. Carefully evaluate the potential business success one product in a specific niche market will have elsewhere before expanding, they say in the article.

Another consideration may be brand recognition. Have you registered your trademark to prevent brand confusion in other parts of the country?

Expansion may mean seeking out new funding, new partners, and new locations.

Enrepreneuer.com reports that a variety of websites now cater to matchmaking for businesses looking for capital, product development assistance, and even geographic location scouting.

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