Unit 43 Tapping into New and International Markets

Unit 43 Tapping into
New and International
Markets

Table of Contents
INTRODUCTION...........................................................................................................................1
Task 1...............................................................................................................................................1
P1 Explicate the global environment of business in which small as well as entrepreneurial
businesses run..............................................................................................................................1
P2 Analysing the threats as well as opportunities which SMEs has been facing in order to
increase competitive global environment....................................................................................2
TASK 2 .........................................................................................................................................3
P3 Benefits of the international trading blocs as well as agreements..........................................3
P4 Tariff and non-tariff barriers...................................................................................................4
TASK 3............................................................................................................................................5
P5 Find out merits and demerits of importing and exporting and how to secure a deal..............5
P6 Justify the differences between merchandise as well as service imports and exports............6
TASK 4 ...........................................................................................................................................7
P7. Measure the various methods in which SMEs can enter into international markets.............7
P8 Compare as well as contrast the various methods SMEs can enter into global markets,
assessing the pros and the cons of each method.........................................................................8
CONCLUSION .............................................................................................................................10
REFRENCES.................................................................................................................................11

INTRODUCTION
In order to enter the global marketplace, it is very essential for the business concerns to
explore international market so that they can enjoy the success and growth of their business
venture (Bateman, 2019). The main object of this report is to germinate the knowledge of
international marketplace so that the enterprises can know their threats and opportunists in
advance before going for that specific or particular market. Symphony Ventures is an enterprise
which is considered for this report and it mainly deliver services relating to the technology. It has
its headquarter in London,UK. In this report report in which worldwide business environment of
United Kingdom is going to be evaluated along with the opportunities and threats that influence
the activities of the enterprises. Further this report consist, restrictions and benefits associated to
tariff and non tariff barriers. In addition to all above information, this report also includes factors
of export and import with their difference in the methods relating to the entry of entities in the
global market.
Task 1
P1 Explicate the global environment of business in which small as well as entrepreneurial
businesses run
It has been discovered that UK is one of the stable nation which is presently facing
economic crisis, but it still it manages to stay positive, clam, innovative and forward looking as
well as it has open its arms for new business enterprises. SMEs are the backbones of the country
and government of UK in this respect is making continues efforts to deliver them various
facilities which will improve their business activities (Ferraris, Santoro and Bresciani, 2017). All
the attempts of government and SMEs contributes towards the improvisation OF GDP. UK is the
quickest growing nation and attain sixth position in the world with the aid of its private
enterprises. It has been viewed that service sector of the country extremely contributes to the
expansion of the economic system of the country, it is nearly about eighty percent of the overall
GDP and it is created from efforts of the SMEs.
Small and mediums business enterprises implies to those entities who start their activities
from small scales and are restricted to region or nation. In context to United Kingdom, it has

been evaluated that small enterprise have turnover less then ten million pounds and employees
are less then fifty. Whereas, medium enterprises have less than two fifty employees and their
turnover is less than fifty 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. 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.
Further, it can be aforesaid that SMEs have majorly contributed in order to strengthen
whole global environment of UK which assist enterprises of the the nation to do their operations
in international market places like Asia, America and in some regions of African countries as
well.
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 aforesaid that the environment of global business of UK is quite a dynamic one
which alter itself with the changes in the elements of external environmen (García-Villaverde,
Elche and Martinez-Perez, 2020). The external environment is presently facing vast issues and
challenges because of the new BREXIT policy which originate at the workplace. SMEs of UK
are allowed to do business freely within various European countries without any kind of
limitation and it only happens before the implication of BREXIT policy. Now SMEs along with
the entrepreneurial business needs to give some sensible amount of rate of exchange. There are
various type of global drivers which are capable of influencing the entire system of economy of a
country. Few of these key drivers includes, investment, productivity, finance and work force. It
can be said that the labour force which is inside the UK marketplace is extremely costly, as a
result to this SMEs of United Kingdom obtain workforce from many Asian countries. This help
them to reduce the cost of labour which directly reduce their cost of production. Apart from this,
productivity & investment are factors which have the ability to influence the economy system of
a nation in both ways positive as well as negative. In context to Symphony Ventures, it can be