Tapping into New and International Markets

Unit 43 Tapping into New and
International Markets

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
SECTION 1......................................................................................................................................3
Explain global business environment in which small and entrepreneurial business operates.3
Analyse threats and opportunities that faces SME in an increasing competitive global
environment............................................................................................................................4
Determine and analyse the advantages of international trading blocs and agreements.........5
Explain various tariff and non-tariff barriers that exist in international trading environments.
................................................................................................................................................6
SECTION 2......................................................................................................................................7
Advantages and disadvantages of importing and exporting with a secure deal.....................7
Difference between merchandise and service imports and exports........................................9
SECTION 3....................................................................................................................................10
Evaluate various methods in which SME can tap into international markets......................10
Compare and contrast various modes of SME can tap into international markets, assess pros
and cons of each method......................................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCE.................................................................................................................................13

INTRODUCTION
International marketing is a concept of marketing principles which are undertaken with
the aim of satisfying the needs and demands of consumers across nation. In order other it
includes activities of more than one nation which is termed out as global marketing worldwide
and customizing according to the preferences of consumers of different nations. By gaining entry
at new international market of different nation, a company seeks to attain growth and
development in a small period of time (Vasishth and Guleria, 2017). In which the present report
is based on British Millerain which is a small and medium enterprise located in UK. This
company deals in textile industry, founded in 1880's and now wish to expand its business at
international level. The following projects explores about global business environments together
with the impact of key driving forces of industry. As well as it includes different non-terrif and
tariff barriers. Moreover, it deals with benefits and demerits of importing and exporting in
between merchandise & services. Additionally various ways to gain access into international
countries.
MAIN BODY
SECTION 1
Explain global business environment in which small and entrepreneurial business operates.
Global business environment can be defined as a environment that primary sovereign &
secular nation as well as bears the decision which are linked with the capabilities along with
resources. It consist huge number of internal and external factors which affects business
operations along with entities (Frahm 2018). In context of this, it has been analysed that is vital
for business in UK to devise effective decision according to the needs of global business with
this marginal limitation of Britain, small business unit provides substantial contribution as well
as earn millions of revenue.
By taking advantages of funds and resources from large companies, SME able to attain
their goals in effective manner within stipulated time frame. This refers to imposition of lower
tariff rules for smooth running of operations and flow of goods and services. Besides from rules
and regulation of different nations, it has been seen to encounter dynamic market. In regards
effective example can be Brexit, which majorly affects the trading of business for those which
perform outside of nation. After implementation of Brexit policies, it affected various drivers and

that influences overall performances of SME along with workforce. Country like UK which
Develops state economy and that provides development and growth for small and large
enterprise. As this country have a god GDP ratio which serves a lucrative place for companies to
establish small SME and creates job opportunities for longer time period. When a large number
of small firm operates its business at international level it will increase economy and contributes
in high income group. This significant contribution of SME towards country economy can
acknowledge with the assistance of political unset. Such types of firm mainly contributes to
foster the different economy in effective and appropriate manner. So significant entrepreneurial
and small business plays important role in order to uplift the economy of nation.
After the implementation of Brexit, UK companies face so many challenges to run their
business alongside the workforce. During that SEM are those companies that help nation to
improve the nation's economy and GDP as small businesses contribute to the nation's growth and
development. The GDP report offers profitable business services to build small SMEs and
develop job opportunities for seekers. When a large number of small businesses run their
business globally, there will be an increase in the economy which will contribute to the high
income group.
PESTLE analysis:
Pestle analysis is defined as a strategic framework that is used by an organization in order
to identify the impact of external and macro environmental factors on operations and activities of
an organization. The pestle analysis of British Millerian is given below:
Political factor: It is determined as the extent to which government interference the industry. It
involves factors such as fiscal policy, tax policies and many more. In context to British
Millerian , it is analyzed that government of UK support small and medium enterprises to expand
its operations which has a positive impact on the performance of respective company.
Economic factor: This factor includes interest rate, economic growth rate, foreign exchange
rate, inflation rate and many more. With reference to British Millerian, it is analyzed that people
of UK has high spending power which help company to gain higher profits in an effective
manner.
Social factor: It involved determinants such as demographics, cultural trends, population
analytics and so on. It is analyzed at British Millerian focus on satisfying the requirements of
people so that it’s offers is accepted at marketplace.