Tapping into New and International Markets

Tapping into New and
International Markets

Table of Contents
INTRODUCTION...........................................................................................................................4
MAIN BODY..................................................................................................................................5
LO 1.................................................................................................................................................5
P1. Explanation of global business environment wherein small entrepreneurial businesses
operates........................................................................................................................................5
P2. Analysis of threats and opportunities faced By SMEs..........................................................6
M1. Providing evidence for analyzing global business environment in which small and
entrepreneurial business operates................................................................................................9
M2. Critical analyses of threats and opportunities faced by SMEs..........................................10
LO 2...............................................................................................................................................11
P3. Explain trading blocs & the agreements and evaluate its advantages directly significance
for their region and country.......................................................................................................11
P4. Discuss the various tariff and non tariff barriers which exist in the international trading
environment...............................................................................................................................12
M3. Evaluate that how trading bloc and agreement affect the global growth for Small Medium
Enterprises.................................................................................................................................13
D1. Critical evaluation of SMEs about the ways they are able to take advantage of
international opportunities and overcoming barriers.................................................................15
LO 3 and LO4................................................................................................................................17
P5. Advantages and disadvantages of importing and exporting................................................17
P6. Differences among merchandise and service imports and exports.....................................17
M4. Appropriate import and export process to an organization and making recommendations
for applications in international context....................................................................................17
D2. Valid and justified recommendation for using different approach.....................................17
P7. Evaluation of methods through which SMEs tap in international market...........................17
P8. Comparison and contrast of ways SMEs can tap in international market...........................18
M5. Evaluation of methods for tapping in international market...............................................18
D3. Justified recommendation for implementing different methods.........................................18
Covered in Brochure..................................................................................................................18

CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................22

INTRODUCTION
Tapping into new market means organizations expand their operations through entering
into international market. Small organizations and entrepreneurs already face the lot of
challenges and struggle in the market for growth (Al-Harrasi and et.al., 2019). In order to expand
their business or maximize their market share, organizations adopt various methods to get growth
in the new market. Through expanding business in the international market, organizations may
increase their customer base which automatically raises demand and it further helps in
maximizing productivity as well as profitability. Main aim of this report is to identify the
opportunities and challenges from the global market. BRIGHTSTAR Company selected as
SMEs for this report and it is UK based company. This assessment covers the various topics such
as global drivers which influence the global business enshrinement, rationale for SMEs,
opportunities, barriers etc. In addition, it includes the trading agreements, tariff or non tariff
barriers and how these aspects affect the global growth for Small Medium Enterprises (SMEs).

MAIN BODY
LO 1
P1. Explanation of global business environment wherein small entrepreneurial businesses
operates
BRIGHTSTAR company is the financial distributor who specialized in mortgage and
lending. They offer various financial services to their clients. Headquarter situated in Billericay,
United Kingdom. Further SMEs wanted to expand in Victoria, Australia. Further Brightstar
contributed in economy to increase the GDP. Australia has stable political situations that are the
opportunity and all the laws are in their favor which helps in getting maximum growth. Along
with this, around 80% contribution in the gross domestic products is from small organizations or
innovative start-ups. At the time of Brexit, large organizations face the immerse loss but small
businesses support the most because their operations mostly depend upon the home country.
Growth of small organizations will provide the economic growth as well as generate more
employment opportunities. So government needs to motivate people to start their own start-ups
that are beneficial for the Australia's economy.

BRIGHTSTAR can utilize more advanced technology to make their services faster and
effective while expanding business globally. For example, use of innovative software application
helps to make customer dealing easy along with reducing the service delivery time. However,
use of advanced technology facilitates to overcome with old trends and use of social trends of
specific country is suitable to expand business successfully at global level. SMEs operates
operates successfully in global environment. With increasing globalisation, heavy competition,
fast changing technologies and newly employed customers in emerging market, SMEs are no
more immune towards issues and makes effective changes in their practices in order to sustain in
global environment. In context to BRIGHTSTAR Company, it is operating in global
environment through transforming itself in fundamental ways and making major changes in
business products, models, go to market tactics and strategies addition to adopting technology to
level of requirements. They are also employing huge proportion of people and commercialization
innovations so to gain competitive advantages in global business environment.