Defining local and global market focusBefore entering the analysis, it is important to define the meaning of local and global markets:A local market is a region where a business is being developed (city, county, region, etc.). Global markets mean expanding business across borders and selling products and services internationally. The case for staying localDoing business within the local market can provide clarity and concentration. When local winsThe local market is often best for:Service businesses (barber shop, electrician, consultant, etc.) There is no universal answer to which SMEs should aim for local or global markets.