The importance of international trade for your business

People today often talk about the world shrinking, not literally of course, but with the dramatic advances in areas such as travel, communication and technology it can certainly feel that way. We have access to global services now in a way that we have never had before, and not just on an individual level. Businesses looking to grow, evolve and stay relevant in increasingly competitive markets must ensure that international development is a serious consideration in their future strategy.

This can seem like an overwhelming step to take, but the rewards are potentially huge as this is a great way to steadily grow business by accessing completely new markets. It is also easier to do now than ever before thanks to the technology that is available to support such ventures.

Hints and tips

Here are some hints and tips on how to break into international markets:

  • The remarkable evolution of the internet and the various online platforms it offers to both individuals and businesses has been the cause of some of the most significant changes to how we lead our lives and manage our businesses today. The most successful business owners are grasping the opportunities provided by the internet to engage with customers, improve their operations and identify areas for growth. Online platforms are the perfect tools for reaching a much wider international consumer base than ever before, without having to worry about time zones and other logistical challenges.
  • Social media platforms such as Facebook, Twitter and LinkedIn represent some of the most innovative means through which a business can now engage with its customers and clients, and very few successful organisations today have no presence on any of these platforms. They provide a means of communicating with customers in an intimate, friendly and direct way, wherever they are in the world.
  • It is also important to learn lessons from sectors such as finance and investments, where businesses already take an international approach and have embraced the technology and culture that enables them to do this so successfully. Follow Jezri Mohideen on Twitter and other platforms for an invaluable insight into this area.

The trend towards adopting an international approach is not only something for corporate giants to consider. The various online tools mentioned above have made it easier than ever for small businesses to consider international activity in their own strategies. With that in mind, it is critical for small UK businesses to harness the power and potential offered by the international marketplace if they do not want to fall behind their competitors.

The future

Most experts in this area agree that the business world is becoming ever more globalised and will continue in this direction into the future. Compared to the familiar and comfortable markets in which you are used to working, taking that first step towards competing in a worldwide market is intimidating, but the alternative is far worse. This is the direction the business world is taking, and people who want to lay the foundations for their own future success should dive in and embrace international trade.

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Pete White Pete White

Love Shrewsbury editor and chief developer at The Web Orchard, find out more on petejwhite.com

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