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Survey: Overseas Expansion Becoming a Top Priority for U.S. Businesses

With growth in the U.S. still sluggish, American businesses are more frequently pursuing international expansion to drive sales and win new customers, according to a new survey of senior executives by CFO Research and High Street Partners. Sixty-five percent of respondents said their companies have more aggressive growth targets for international revenue this year then compared to 2012, with 95% expecting to have customers in at least two foreign countries by 2016. All told, two-thirds of the 161 executives surveyed expect international markets to be among their company's top priorities over the next three years. "Given the sluggish pace of U.S. economic growth, these small-and-mid-sized companies are clearly looking to diversify their mix of customers," said Josh Hyatt, associate director of CFO Research. "And they want to establish themselves in those markets where they can do it quickly, and with potentially less risk."

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