Singapore’s 2018 Budget includes a new Enterprise Development Grant (EDG) designed to help firms internationalise. This is welcome news, but with today’s growing climate of global protectionism and fragmentation, it will take more than grants and tax breaks to help firms navigate overseas expansion in this post-globalisation era.

Even in the ‘good old days’ when globalising headwinds blew, expanding into new markets has always been difficult. Back in the 1960s, the term “Liability of Foreignness” (LOF) was coined to better understand the challenges – both social and economic- companies face when expanding outside their home country. The area of study is more relevant today than ever.

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