"In the increasingly flattening world, that is a very important way to grow your business," he said.

Utah has mostly small to medium-size companies, which don't have same resources and capital that the large multinational firms do to learn how to do international business and to make big, costly mistakes, he said.

"The average company in Price doesn't have the same capital that P&G (Procter & Gamble) does to figure out how to play in China," Heimburger said.

"GM and GE and Wal-Mart — some of these large corporations that are doing well internationally — have learned some very hard lessons along the way," he added. "The road is littered with road-kill small companies that have unfortunately gone into some of these markets not fully understanding the risks and challenges that are associated with those opportunities."

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