The volatility of the economy is not just being experienced in specific countries but rather all over the globe which means whether you are selling locally or globally there will be challenging. Even so, there is a reason why people who have opened branches in different countries are doing better than those who chose to focus only on their motherland. Branching out will not increase the number of clients you get but also supplied. Big companies will not have a problem setting camp in foreign countries but this does not small businesses are doomed. You can sell overseas even without leaving your home and this can be through the website. However, you need to make it easy for overseas customers to shop from you by including payment methods they are familiar with. Given that they will need to get the products after they have made the payment, ensure that there is international shipping too. You can make use of international marketplaces like eBay. You will not have to rely on your website that much but this comes with its limitations too. These are the businesses which require you to be registered in your home country before you apply to sell with them and there is a commission you will have to pay.
It is also possible to create a partnership with a company offering the same products and services in another country. You can offer to introduce their products in your home country so that it will be a symbiotic relationship. It will even be easier if you could get one of your employees to transfer to the other country to ease the operations. When you are handling the payments, you will find it easier to use automated software like paystub generator to handle that and you can discover more about it here.
Setting up a franchise is another way to expand your market too. You just need an idea and set-up and other entrepreneurs can buy your company name and operate under it. Many of the large companies you see do that so that they can cut the cost of operation. They will not be responsible for the business expenses of the person who has bought into them. Some people can use your business to do illegal things which is why you should be monitoring their businesses so that you do not end up being slapped with a lawsuit.