The key to successful international expansion is to get the help your company needs to fill the gaps in its expertise. And "”especially if you're a small or midsize business "” those advisers must be both knowledgeable and trustworthy. And local.

For years developing countries have been thrice blessed. First, near-zero interest rates in the U.S. drove investors into bourses from Mumbai to Mexico as they searched for higher returns. Next, China emerged as the trading partner of choice as it gobbled up Indonesian palm oil, Cambodian hardwoods, and Brazilian iron ore. Finally, with the exception of the Middle East, the politics of most emerging-market countries were stable. The blessings have run out.

U.S. business executives involved with business development and corporate strategy expect their companies will invest in geographic expansion, particularly in high-growth and emerging markets, according to a recent survey by KPMG LLP, the audit, tax, and advisory firm.