A global market presents a small businessowner with a range of opportunities, an entrepreneurial expert claimed yesterday.

Writing on online news portal ClickPress, Evan Carmichael encouraged owners of small firms to consider how the foreign market could benefit their businesses.

Overseas expansion "is not even a matter of choice anymore" for companies which want to be truly competitive, Mr Carmichael claimed, as such financial benefits as cheaper manufacturing costs and access to a larger market become more apparent.

However, he added that research and preparation is necessary before embarking on global expansion, saying: "Entrepreneurs need to take into account everything from language, to customs, to government policies and regulations."

Additionally, firms should evaluate whether they have the resources to begin such an endeavour, then work on building their reputations in the local market, Mr Carmichael said.

The average age for starting a new business is 36, according to online business resource startups.co.uk.