Tapping into New and International Market

TAPPING INTO NEW
AND INTERNATIONAL
MARKET

INTRODUCTION
In recent time, companies drive towards expanding their business into international
market, it helps to provide the most common benefits for SMEs like ability to generate revenue,
capability to help more people, learning new culture, greater access to acquire talent and improve
business reputation within marketplace at global level.
The present report is based on UK, it explains the essential information of UK and chosen
region, global environment in which entrepreneurial & small businesses operate. It justifies
global business environment, influence of global drivers in relation to UK, define rational for
SMEs to expand their business into international market. It also clarifies, how SMEs take
benefits of international opportunities to overcome obstacles for international growth, trading
agreements and blocs, advantage of specific trading agreements that would have direct
significance for region as well as country.
Furthermore, report will also shed light on barriers pertaining to tariff and non-tariff that
associated with international trading. Besides this, report also entails the manner through which
growth for small & medium sized business is facilitated via international agreements. This study
defines the benefits and drawbacks of different types of exporting procedure. It justifies
differences between services and merchandize imports and exports. Documentation that is
needed some essential things and clarifies different methods of tapping into new international
markets. Moreover, this report explain contrast and compare of different ways SMEs tap into
global market, with cons & pros of each approach. At last, it defines suggestion on right
countries as well as methods to meet specific requirements of business.
PART 1
Overview of chosen country & region and global environment in which small entrepreneurial
business
UK is island nation archipelago and spanning including Great Britain, located in Western
Europe comprising Scotland, England, Northern Ireland and Wales. It is surrounded by Atlantic
Ocean, the English Channel, Irish and North Sea. At the start of 2018 massive 99.9 percent of 5.7
million organizations in this nation are medium or small size businesses (Galbraith and et.al.,
2017).
Europe, runs from Atlantic Ocean to Ural Mountains, is divided into seven geographic
regions include British Isles (UK and Ireland), Scandinavia (Norway, Denmark, Sweden, Iceland

and Finland) etc. 25.1 million SMEs in European union are operating their business, with fewer
than nine people in enterprises.
Global business environment in which entrepreneurial and small businesses operate are
constantly growing, with the advancement of technologies and elimination of trade barriers
(Anand, 2017). External and internal environment is the key element of global business
environment which affect business. External environmental factors such as political and other are
changing the way they work, in order to develop economies. The government of UK taking step
towards creating supportive business environment for entrepreneurial and small business that
encourage them to lead economic recovery. Global business environment is quite beneficial for
all business, as it help to reduce barriers to entry into international market.
Analysis of global business environment and influence of global drivers in relation to UK
Global business environment is defined as environment in various sovereign nations, with
elements endogenous to home atmosphere of company, influencing decision taking on resource
capabilities and use. It classified into internal and external environment, external environment
includes political, regulatory, social, legal, technological, tax and cultural environments. To
function efficiently and effectively, organizations operating globally had to understand social
environment of host nation in which they are operating since for so long.
Technological advancement, international investment and trader are the main global
drivers that influence UK (TASSINARI and et.al., 2018). For example, rapid technological
advances are changing the style of work, in term of people do their business, work with systems
and programs that manage day to day operations. Impact of emerging technologies such as
artificial intelligence are varied, it influence positively as helps to generate more debate around
whether organizations or peoples will proliferate in work at expenses of human resources.
Technological changes and advancement make positive influence in relation to UK, they make
necessary modification in existing structure and systems of business and allow people to adopt
the latest programs that enhance their living standards much better than before which is quite
beneficial for them (Gallant, Lecomte and Berteaux, 2019).
International trade is another driver of globalization that influence positively in context
to UK. It allows organizations to expand their business at global level and easily enter into new
market where they can earn more profit.