Tapping into New and International Markets

Unit 43– Tapping into New
and International Markets

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Explicate the worldwide business environment in which small as well as entrepreneurial
businesses operate........................................................................................................................3
P2 Analysing the threats as well as opportunities which SMEs has been facing in order to
increase competitive global environment....................................................................................4
TASK 2............................................................................................................................................5
P3 Advantages of the international trading blocs as well as agreements....................................5
P4 Tariff and non-tariff barriers...................................................................................................6
TASK 3............................................................................................................................................7
P5 Find out advantages and disadvantages of importing and exporting and how to secure a
deal...............................................................................................................................................7
P6 Justify the differences between merchandise as well as service imports and exports............9
TASK 4..........................................................................................................................................10
P7 Measure the different methods in which SMEs can tap into international markets.............10
P8 Compare as well as contrast the various methods SMEs can tap into international markets,
assessing the pros along with cons of each method...................................................................11
CONCLUSION .............................................................................................................................12
REFERENCES..............................................................................................................................13
.......................................................................................................................................................14

INTRODUCTION
Exploring international market is one of the most effective practice which is used by
business entities in order to tapping into global marketplace with the motive of getting success
and growth. Major aim of this project is to develop an understanding related to the international
marketplace where different sort of threats as well as opportunities are going to be exposed
which arise at the business environment (Calkin, 2015). In the present report, Barclays is an
organisation which is chosen which mainly provides financial services located in London, United
Kingdom. This is the report in which global business environment of United Kingdom is going
to be analysed which includes all the threats and opportunities which affect the operations. Along
with this, benefits and limitations are also going to be examined in the present report which
includes all the tariff as well as non tariff barriers. In addition to this, it also consist of discussion
about the exporting and importing factors along with the different methods used by business
entities in order to enter into new marketplace.
TASK 1
P1 Explicate the worldwide business environment in which small as well as entrepreneurial
businesses operate
It has been observed that United Kingdom is one of the stable country which is currently
facing economic crisis but still remain positive, innovative, forward looking as well as is open
for new business entity. It has also been identified that the legal authorities as well as
Government of the country are highly committed in order to provide facilities to SMEs as they
act as the backbone for the country economy. This as a result also contribute their share towards
the enhancement of the GDP. This will leads towards the development of economy which
generates employment within the business entity. UK is the fastest growing country with the help
of their private business sector and capture sixth position in the world (Chen, Kim and Kohli,
2017). It is said that the service sector of United Kingdom highly contributes in the growth of the
economic system which is almost 80% of the overall GDP which is generated mostly from
SMEs.
It has been said that Small and mediums business enterprises refers to the business
organisation which usually operates their business functions with a small scale and is usually
limited to only some specific regions and nations. In reference to United Kingdom, it is said that

small business entities includes employees which are less then 50 in number as well as turnover
is lower that 10 million pounds. In addition to this, it has also been said that medium business
organisation includes employees which are less than 250 in number whereas have total turnover
which are less than 50 million pounds. It is said that these are the business entities which usually
operates in such surroundings where they imports goods and products from various other regions
in order to operate their business effectively as well as export all their manufactured items into
different nations across the whole wide world (Hassan and Haddawy, 2015). Each and every
SMEs along with entrepreneurial business organisation of United Kingdom mainly operates their
functions in a global business environment which is supported by legal authorities and the
government. It has been identified that the majority of SMEs business within UK usually
operates their functions within Europe boundaries where they exports their products to different
European countries which consist of Spain, Netherlands, France and many more. In this context,
overall transportation cost will be reduced and because of the European Union, SMEs need to
pay very minimum amount of cost while exporting their goods and services.
In addition to this, it has also been said that SMEs of the United Kingdom strengthen their
overall global environment with the help of which they can effectively perform their operations
within the marketplace of America, Asia, some region of the African countries. It has been
concluded that the environment has been enhanced which modify the opportunities in order to
grow at the competitive marketplace which leads towards the contribute of business entities to
the overall GDP of the nation.
P2 Analysing the threats as well as opportunities which SMEs has been facing in order to
increase competitive global environment
International business environment along with the influence of essential global drivers
It is said that the global business environment of the marketplace of UK is quite dynamic
which modifies itself by changes in the external environmental elements. External environment
is currently facing huge issues and challenges because of the new policy BREXIT arise at
workplace (Hemsley-Brown and et. al., 2016). SMEs of United Kingdom has been allowed to
trade freely within different European countries without facing any kind of restrictions before
implication of BREXIT, but now SMEs as well as entrepreneurial business needs to pay some
reasonable amount of exchange rates. There are different sort of global drivers which have the
capabilities to influences the overall economic system of the country. Some of these key drivers