When domestic markets stagnate, it is an opportunity to explore new markets abroad. More than ever, businesses are looking to develop global strategies. By trading internationally, companies can benefit from accessing a wider customer base, reduce dependence on existing markets and create additional revenue.
Globalization is time-consuming and there are many risks and costs associated to starting a new export venture. Finding foreign markets or suppliers and dealing with shipping complexities are only two of the challenges facing small and mid-sized firms seeking to participate in international trade.
Companies should be cautioned that international trade involves many complexities above and beyond the basic disciplines necessary for operating a domestic business.
Complexities include issues of:
Success in international trade requires dedicated time, study and investment in order to gain appropriate knowledge and experience in these areas. Based on our service standards and functional expertise, Global Business Union will effectively assist companies competing in a crowded and challenging global marketplace.