The Gateway to Growth: How American Businesses Can Unlock Emerging Markets
As businesses strive to remain innovative and nimble to outpace the competition, it's impossible to overlook the economic potential that lies beyond the familiar terrain of established markets. There's an enticing world of opportunity that beckons for businesses based in America —emerging markets. These markets are the growth engines of the future, with an unprecedented potential to transform your business growth narrative. Let’s dive in to better understand the opportunities that emerging markets can bring, the challenges that American businesses are facing, and how Verto can help them grow into emerging markets.
Understanding Emerging Markets
At the heart of it, an 'emerging market' represents a country that is on the brink of rapid economic growth and industrialisation but has not yet reached the status of a developed nation. Think India, Brazil, or Nigeria—a mix of exciting cultures and burgeoning economies, ripe with opportunities.
But why should a North American business concern itself with these unfamiliar landscapes? Simply put, the dynamism. According to the International Monetary Fund, emerging markets account for approximately 60% of global GDP based on purchasing power parity, demonstrating a growth rate double that of developed markets. The forecast suggests a continuation of this trend, propelled by factors such as an expanding middle class, rising digital adoption, and significant advancements in infrastructure.
Opportunities in Emerging Markets for North American Businesses
Emerging markets present a kaleidoscope of opportunities for North American businesses. They offer access to vast new customer bases, teeming with digitally savvy and aspirational consumers eager to embrace new products and services. For industries spanning technology, financial services, healthcare, and consumer goods, these markets represent untapped audiences whose needs have been historically underserved.
Additionally, emerging markets offer potential for cost-effective resources and a chance for revenue diversification, insulating businesses from economic fluctuations in any one market.
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Get startedChallenges of Engaging with Emerging Markets
As enticing as they might be, emerging markets come with their unique set of challenges. Cultural nuances, complex regulatory environments, and socio-political variables can turn this land of opportunity into a challenging environment to navigate. A crucial aspect of this navigation involves managing financial transactions, an area often fraught with inefficiencies, risks, and high costs.
That's where a solution like Verto steps in. As a platform committed to revolutionising cross-border payments, Verto bridges the gap between North American businesses and emerging markets, simplifying complexities, and opening the floodgates of opportunities.
Why Verto
Verto's mission is to empower businesses to thrive in the global marketplace. We understand the unique financial challenges that come with international expansion, particularly into emerging markets. Our cross-border payments platform has been engineered with these challenges in mind, ensuring your business is equipped to deal with currency exchange, compliance, and payment speed with unparalleled efficiency. Discover how we can help your business master regulatory compliance.
Through Verto, you gain access to fast transactions, lower costs, and state-of-the-art security—solving the puzzle of international transactions and letting you focus on what matters most—growth and profitability.
Verto offers a range of cross-border payment solutions that makes the expansion into emerging markets a seamless and hassle-free experience, all while reducing the costs often associated with traditional banks. Our Global Accounts allow for sales to increase as you offer local currency payment options to new customers in previously unfamiliar territories. Collect payments in up to 25 currencies using one account, while reducing payment processing fees to save your business time and money. When it's time to payout, currency conversion is simple and safe via our FX for enterprise-ready trades at bank-beating rates. Gain the competitive advantage and manage your FX exposure with swift conversions across 50 currencies, all through industry-leading FX technology that enables you to automatically check rates and make your trades. We're dedicated to making it easier and more efficient for your business so you can scale with confidence.
Next steps
The economic landscape is shifting, and the tides are favouring the daring. Emerging markets, with their blend of challenges and opportunities, are rapidly becoming the new frontier for business growth. Verto exists to facilitate this transition, acting as a reliable partner in your cross-border payment needs.
The world is brimming with opportunities; you need to know where to look. Join us on this journey as we continue exploring the challenges and opportunities for American businesses and how they can penetrate emerging markets. Your business's potential is limitless. With Verto, let's turn that potential into reality. Get started with us today to explore how we can facilitate your global growth.
This article serves as an introduction to our series focused on how American businesses can navigate the opportunities of emerging markets. To stay informed about future instalments, don't forget to subscribe to our updates.
