If GE Thinks Globally, Shouldn't You?

It's hard enough keeping tabs on suppliers and customers within your own area code. Networking and expanding overseas? That's for the big guys, right?

Not necessarily. In the U.S., small businesses thrive in niches overlooked by the big corporations, and the same holds true in other countries. These days, as the American economy stumbles, looking beyond the U.S. may be the key to success.

Wall Street trembled when General Electric (GE Quote) reported disappointing earnings this spring, since results from the country's second-biggest company are widely seen as a bellwether for the whole stock market. To stem losses, GE announced plans to sell off its appliance business, which could fetch anywhere from $4 billion to $8 billion. This week, during visits to South Korea and China, General Electric CEO Jeff Immelt revealed that the top potential bidders for the business were all foreign companies, including China's Haier, South Korea's LG Electronics and Sweden's Electrolux.

But it's not just American CEOs who are making deals beyond their borders. Also this week, Germany-based Deutsche Post, whose DHL shipping unit has been struggling in the U.S., announced a partnership with one of its American rivals. Under the terms of the deal, UPS (UPS Quote) will now provide air transport for all DHL shipments in North America.

Whether it's an American company selling a division to a foreign competitor, or a European company forging an alliance with its American competitor, the theme here is the same: Big business isn't limited by nationality or geography.