Tapping into New and International Markets

This document explores the global business environment, evaluates threats and opportunities for SMEs in a competitive global environment, and analyzes the benefits of global commerce blocs and concords. It also discusses various methods for SMEs to tap into 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
Evaluate threats and opportunities that faces SME in an increasing competitive global
environment.................................................................................................................................5
Determine and analyse the benefits of global commerce blocs and concords............................6
Explain various traffic and non traffic barriers that exist in international trading
environments...............................................................................................................................8
SECTION 2......................................................................................................................................9
Advantages and disadvantages of importing and exporting with a secure deal..........................9
Difference between merchandise and service imports and exports..........................................10
SECTION 3....................................................................................................................................12
Analysing Various methods in which SME can tap into international markets......................12
Compare and contrast various modes of SME can tap into international markets, assess pros
and cons of each method...........................................................................................................13
CONCLUSION..............................................................................................................................15
REFRENCES.................................................................................................................................16

·INTRODUCTION
International marketing is the important part of the marketing functions which aid to
Explore the business in huge level of target market for higher growth, profit and company goals
achievement (Cateora, , Meyer, 2020). As it gives the opportunities for exchange of products
and services across the nation to reach and meet the need of numbers of international customers.
Through international marketing company can grow and develop within small period of time.
This is the way to extend the business for huge profit and brand value development throughout
the world. Brightstar Financialis the SME which uses the technological support to manage the
financial part and payment process of the customers. Brightstar Financials Bradley is the
managing directer and Dennis is the chief financial officer who has boosted their start-up with
over the last five years, that is Headquarters in Billericay, United Kingdom. This project is
involving the exploration of global business environment along with the analysis of industrial
forces and it impact. This is also including evaluation of non-tariff and traffic barriers, along
with the analysis of importing and exporting advantages and disadvantages between merchandise
and services (Lahiri, S., Mukherjee, D. and Peng, M.W., 2020).
. Moreover it involves the various ways of getting access into the international market.
·MAIN BODY
· SECTION 1
·Explain global business environment in which small and entrepreneurial business operates.
PESTLE analysis
This is the macro environment analysis tool aid to identify the changing external force,
external environment are the key elements of business which effects the national and global
market function of the organisation and they have to plan, manage strategic component
according to those changing force. such as politics, economy, society and all. External force's
and its effect in context to the Brightstar global business development is given below.

Political- This involve the major elements which effect the business plan and growth at
both national and global level. Such as in context to global level it involves the different political
agenda and decision related to the business organisation. Brightstar has to analyse and asses all
these element before planing for global business. Because political agenda is can be about
employment, business process and company have plan according to all those elements, such as
tax policies and tariff (Pavel, S. and Supinit, V., 2017).
Economical- This external force is involving the economical condition and performance
of the nation which directly effect the, affordability of customers, cost of the sorceress and
finally the pricing strategies of the organisation. So it has been analysed that at present
economical conditions of the different nation is at loss due to the pandemic situation of COVID,
so Brightstar organisation have to take their step according to that.
Social- This factor is involving different needs and demand of the society according to
their ethics and trend. At present condition every one want to make the finical security and this
is the beneficial force for the Brightstar (Watson IV, and et. al., 2018) .
Technological- This is the new developing external force for the business organisations.
Company have to adopt new updated technologies more effectively in compare to their
competitor so that they can meet the competitive edges with effective techniques. For

Brightstar this force is beneficial because it will help to reach the global level customers with the
aid new technology.
SME- From (Liberto) 2020 point of view small medium organisations are the
enterprises which run their company with small amount of human resources and business assets.
These type of organisation run with low investment but contribute the economical growth due to,
huge number of SME and employment opportunities.
SME contribution to the economy- SME are the key to run at international level, these
are the small size which require law investment and higher innovation. Different SME at various
location contribute to the development of people and give the huge employment opportunities.
So through its involvement in higher employment, it is related to the national and international
economy. And then its trading to the multinational level contribute to economical growth by
provide the opportunity of trading tax to government.
Business is the essential process of product and services development along with its
serving to the customers according to their needs and global environment is the different areas
and place which offer the huge opportunities for businesses through which they can fulfil of
different cultural, social, personal and medical needs of the customers (Paul, and Mas, 2020).
So the global businesses environment is the biggest field which offers the huge opportunities for
business and industrial growth. With multiple resources and no secular boundaries. In prospect
of this it has be fund that the importance of business in UK has to be divide and effectively
discuss according to the requirements of the global business. It has been analysed that in Britain
with the marginal limitation SME units has provided their grate contribution it that along with
the earning of millions of revenues.
SME can enter into the global market effectively with the support of large company's in
terms of finance and resources. And then they can achieve their objectives with in selected
period of time. This can be known as the implementation of lower traffic rules for the correct
activities and functioning of organisation in international level along with the production and
offering of quality products and services. other then the rules of the various nation it encounter
the dynamic market and growth ( Tolstoy, D., and et. al., 2020). For example Brexit which
caused the Majority of changes on trading business and mostly effect the businesses units which
work outside of the nation. From the application of Brexit policies, it has changed the multiple

techniques and drivers, which effects the performance of the SME and their staff. For the UK
international marketing is the best process to increase their economy and due to this they have
got the GDP ratio. This work as a profitability idea for the organisation to create the SME in
order to make job opportunities for longer period of time along with earning of higher profit. If
the huge numbers of SME work in the international level then it can highly contributes towards
the increasing economy within high income group (Roxas,, Ashill, and Chadee, 2017). This can
improve the political unset along with development of country in terms of different economy in
very productive manner. So this process of the globalisation is can be crucial to increase the
economy of country.
l壱Evaluate threats and opportunities that faces SME in an increasing competitive global
environment.
There in the developing nation and increasing competition, there is huge opportunities
and threats for the SME company's. As due to the developing technology's organisation can
make their operational system more effective and they can expand their business at international
level due to the increasing demand for product and services. So there is one of the most effective
opportunity for business organisations to extend their business along with the improvement of
living standards and employment, that is international marketing (Julien, ed., 2018). Their are
some threats related to this process given below ( Ahmad, N. 2018).
Threats for SMEs:
In this competitive world SME can face the various issues for the implementation of
international business plan. As SME company's are small scale business organisation with
selected and lower number of staff members. Their turnover is low due to small target market
and productivity. All these factors is can be a causes of major issues which prevent the the
functioning of global level business plan. Some of the common issues faced by SME are lower
amount of resources such as lack financial stability, land, lack of the specialized workers and
employees and market availability. All these factors prevent the organisation to accomplish
their objective of international business. Some time the economical stability of country impact
goal achievement of company. For Brightstar is can be customers dissatisfaction and hinger
cost of the employees at different nation.
Opportunities for SMEs:

Increase revenue potentials: For the SME organisation there are the multiple
opportunities along with the international marketing. Brightstar can increase their sale by
targeting the international market, they can get the higher brand revenue, company can make the
huge amount of their brand customers at global level. All this factors aid to increase profitability
of company. By the effective pricing and marketing strategy organisation can make the large
market share over the competitor with in the small time. Globalisation is the influencing way to
achieve the success goals of organisation (Hartland-Thunberg, P., 2019).
Diversifying company market: Brightstar can target the various type of market with
the help of globalisation, then they can diversify their business with effective planing and
services. For this company should analyses and understand the social needs and personalized
needs of customers (Rua, França, . and Ortiz, 2018). By this organisation can be able to
satisfying the customers and make the large sale with the huge level of market.
l壱Determine and analyse the benefits of global commerce blocs and concords
According to the Trading blocs (2021), Trading blocks refer to a type of accord with
government bodies for the complete removal of legislations and regulations which are
implemented to limit commercial relationships and business activities between various nation
states to ensure maximum participation of each nation in various business and commercial
activities and trading operations. Various obstacles to trade are eliminated by trading blocks
which include tariffs, import license, reduction of currency value, subsidies and many others
(Hartland-Thunberg, 2019) . It is determined that trading blocks and similar accords are contract
between various countries of a particular region formulated to help each member of the
agreement to engage in commercial activities free from any barriers and under the rules of the
accord . This is beneficial to each country as it is helpful in igniting perpetual economic growth
of that region.
Trade blocks provide several advantages to corporations present in that area as they have
the freedom to conduct various commercial activities with different countries without the
barriers of taxes and tariffs. UK is a member of the EU which empowers the country to engage
in free trade with any member country of EU (Molan, A.M., Rezapour, M. and Ksaibati, K.,
2019). UK has detached from the EU after the execution of Brexit and has formed trade accords
with other global nations in business world (Hofmann, Osnago and Ruta, 2019) . One such trade
accord is related to the trading block of CARIFORUM-UK accord of economic relationship.

This helps UK to engage in free commerce between various countries such as Barbados and
Bahamas.
In addition to this, another commercial accord formed by Britain includes SACUM-UK
economic partnership agreement. This accord states that corporations in the region of trading
blocks are allowed to conduct business activities with southern countries such as South Africa.
The area of south Africa has a huge amount of valuable natural resources. So if the corporations
based in Britain are able to form an business relationship with South African countries, they gain
the benefit of importing their commodities without any obstacles such as taxes and import
duties.
The enactment of Brexit resulted in Britain becoming country allowed to conduct
business operations with various 163 countries in accordance with regulations of the WTO
which mentions trade accords between UK and other countries (Joshua, 2017) .
Preferential Trade Area- This is the type of trade bloc where different nation's get agree to
remove or reduce tariff barriers for some selected goods coming from other country. For
example north America is having free trade agreement in custom unions such as EU.
Free Trade Area- This type of trade consider between those country's and on condition.
Where tariff barrier is reduce for all types of goods and services coming from other member.
Example is north America is having this trading bloc, that is (NAFTA) and Europe free trade
association (EFTA).
Custom Union- This is the trade bloc where costume union remove the tariff barriers, with in
the members and non members. So they can negotiate as single bloc with other parties. Example
is Europe union.
Common Market- This is the trade bloc under which member nations can trade freely without
any barriers. By the removal of whole tariff and non tariff barriers. Asia Pacific Economic
Cooperation (APEC) (Thota, M. and Wang, K.W., 2017).
Various benefits of trading blocks are provided below:
Foreign Direct investment
This is helpful in increasing direct investment from various foreign markets which ignites
economic growth of the area. Apart from this huge markets are constructed from such
investment which result in reduction of costs of various products which results in affordable
goods and services for lower and middle income consumers (Kerremans and Switky, 2018) .

Effect of commercial activities:
Trading blocks result in increase of lower cost products with high quality with the
increase in import of various commodities. This helps the consumers gain access to variety of
choices with high quality.
Development of SME:
Global trade agreements and trading blocks are helpful in development of SME as they
allow the enterprises to engage in exportation and import of different commodities without
barriers to take their business on an international level (Saad, A.F., 2019) .
l壱Explain various traffic and non traffic barriers that exist in international trading environments.
Traffic barriers:
Transit duties: This is one of the traffic barrier which is face by every type of
international businesses (Tyler, Lahneman, 2020). That is a kind of government rules and
polices for the taxation charge of the trading. Through this government of different country
charge different amount of tax for the transportation of products and services from one place to
another. So this can be a major barrier for the small and medium size company's how work on
international level. In terms of financial and profit system of organisation (Haghighi, M., and et.
al., 2019).
Export traffic: This is the kind of responsibility barrier which is applicable to the
exporter of product throughout the nations. So according to this agricultural and minerals
products have to mage by the exporter carefully along with the TAX payment.
Import traffic: This is the barrier for the importers as custom responsibility they have to
charge the selected tax rate from the manufacture company. They law is imposed by the
importing country. Purpose of this rule is to protect the domestic company's by increasing the
revenue.
Non Traffic barriers: These barriers are the non taxes regulations which involve the further
more lawful processing. This majorly involves the restriction for the process of trading in the
form of Quotas, subsidies and embargo.
Quotas : This is the rule related to the quantity of goods and services which
should be limited according to that rule, in the process of exporting and importing. In prospect
of the selected organisation they use the online level of import and export by following all the
laws.

VER ( voluntary export restraints: That is the facility provided by the exporting
country on the special request of importing country for the increasing limits of Quota. So
company can easily import the goods and services to their country with maximum quantity.
Subsides: This is the payment service provided by the government to their domestic
company's so they can compete with the foreign products (Kinderis, 2019). That is done by the
reduction in the row material cost and gaining control over the market.
·SECTION 2
·Advantages and disadvantages of importing and exporting with a secure deal
The process of bringing the products and services of foreign country into home country
is known as importing. Here the main objective of the importing is to fulfil the requirement of
customers which is not facilitated by domestic organisation or country (Islam, Omar, Ghani,
and Mat, 2020). Company can make their brand famous at global level. But its excessive use is
can be threat or negative for the domestic organisation and economy along with this it can
impact the image of nation in terms of development and economical stability. Exporting is the
process in which product and services of the home country is sell into the different country's.
Through this method company can achieve their objective to make their brand globally present
and to get the higher profit from foreign income by the selling of domestic products. It is
beneficial for home country because it aid to increase the economical state of nation by the
achievement of foreign income (Hartland-Thunberg, 2019). The balanced implementation of
importing and exporting is the key to smoothly expand the business at international level. As the
Brightstar Financialis developing company of online payment management which is targeting
the the global market for their business objectives. They have implemented some import and
export methods for their services, but they require to make some more efforts with this method's
to make the organisation rich more country's.
Advantage of imports business
Through this good quality product and services is can be provided to the customers of
own nation which is not provided domestic organisation. Brightstar Financialis company can
introduce the new product into the market, which can aid them to meet the competitive edges in
comparison to the other competitor of same products. It can help to reduce the cost and select the

lower pricing strategy for business as it reduces the cost of manufacturing. This can be a key
mode to become the market leader of selected industry or business type.
Disadvantages of imports business
This process is can be risky for economical factor of nation. Some time this can lead
transportation of poor quality product. For this work organisation need to take license and this
take huge money to get licensing. It can posses the negative effect on domestic businesses. This
process is can be harmful for the economical stability and development of the country (Perez-
Prada, and Monzon, 2017). Brightstar Financialis is not beneficial because they have to
provide their services to others and they don't need to import for that.
Advantages of Exports
For Brightstar Financialthis is very beneficial mode of business as it helps to get higher
profitability from foreign income. This process also helps to make the national economy
productive and stablish. Exporting of products is good for SME as it give the opportunities to
extend their brand products and make the higher sale at international level for huge profit and
organisation growth.
Disadvantages of exports
It is risky because it require the higher concern and monitoring of all steps and functions
of exporting. It make the dependence on international partners and on their resources. In context
to the Brightstar Financialis For this mode of business organisation need the higher skilled
mangers and employees. It can some time causes the lose of existing market and customers
(Jacyna, Wasiak, , Lewczuk, and Karoń, 2017). This can cause the higher administration cost
due to the export charges and tax.
l壱Difference between merchandise and service imports and exports
Merchandising business is the process of selling pre-selected and ready products of
manufacturing company's. As in context to the Brightstar Financial people can make their
merchant account and offer the services of Brightstar Financialto their friends, family and
customers to get profit from that. So this is the type of business in which finished and prepared
product is use by the merchandiser to resell and get profit from it. In context to the other kind of
businesses such as clothings and grocery merchandiser can bring the product from manufacturer
and then resell it with their selected profit margin. But Brightstar Financialis not a merchandiser
they offer the merchandising businesses options to their customers and other peoples, in order to

get higher number of customers and services sell (Debashi, M. and Vickers, P., 2018). They
have to make it more effective with exiting offers and strategy's. Merchandising businesses is
can be local, import or export, it depends on the selection of manufacture and location for
getting pre-developed products for the sell.
Import and export services businesses are the firm which faces the various legal and
political factors to run their businesses. This name is can be given to the organisation which
provide both import and export services to international customers and supply of the
international products. To run this type of businesses company need to have and follow some
legal assets, which is selected by the regulatory system of the different country's to run the
functions smoothly. This is different from the merchandising businesses because it involve the
same task with some more functions and procedures of international law and market procedures.
Brightstar Financialis e-commerce exports business which offers the online payment services
and security across the nation. Some time they merge with other online services company for
better services as they have signed the agreement between NIFT and Brightstar Financialalong
with the help of WeBoC to provide the E-commerce payment services (Proskuryakova, 2018).
So organisation can use all of these process (merchandise and service imports and exports)to
enter and stablish into the international market with implementation of all laws and rules.
MERCHANDISE
IMPORT MERCHANDISE
EXPORTSERVICE IMPORTS SERVICE
EXPORTSThis is the process of bringing tangible products and goods in to the country. This
is process of sending tangible products out of the country. This is the process of business where
organisation pay for the getting the intangible services like , finical management, data
management, and so on. This is the process of commercialization of intangible services to the
other nation and customer of the other country.

·SECTION 3
· Analysing Various methods in which SME can tap into international markets.
In the competitive market every type of organisation try to explore and grow their
businesses within the implementation of different techniques and methods. Similar to this for
international market exploration there are the different method's to get enter into the
international market and to easily operates their company. In order to increase growth,
profitability and market-share (Blake, ORCID: 0000-0002-2453-2090 (2020). Some effective
methods use by the most of the organisation is given below.
Franchising: This is one of the cost effective process to penetrate into the international
market with brand image. In this process SME organisation can give their product and brand
image rights to franchisee as a franchiser. With this right franchisee have to run the small
business with the name and product of franchiser in order to earn profit for brand which can be
further share between them according to contract and agreements. So franchisee have to promote
the brand image with influencing campaign, and company have to mange the quality of services.
This mode is can be helpful for the Brightstar Financialto expend their business across the nation
in order to grow and make the high brand value. In this process marketing manager of the SME
can use the business strategy's of the franchisor to run their company effectively.
Joint ventures: This is another way to enter into the international market, through which
two and more business partners get agree to share their resources with each other for the
accomplishment of business objectives. In this process partners have to sign the agreements
which involves the rules for equal share of profit and loss. This process is can be run for the
selective period of time in order to make the business stablish in new market segment with
support of partner resources and functions. Brightstar Financialis already having the partnership
with some company in order to mage their business data and technological system, but they can
use it more for the further exploration of business in international market.
Licensing- Is the kind of permitting for the establishment of business in the different
nation with the legal permission and rights. This method is effective effective as it give rights to
use the resources of country for business establishment and marketing. In this process it includes
the agreements and contract between the parties to Carry out the business. Brightstar
Financialis using this mode to manage their online payment method and services at global level

with safety and privacy (Gnangnon, 2020). Through this method they are getting the enough
support of resources and they can use it more better.
Piggybacking- This is the method where two different company can work together for
for cross selling of each others product to their own market and home country. So this can aid
to sale products from one nation to another by support of partner of the different nation.
Brightstar Financialis can use this method but with strong relationship and trust with the partner.
Exporting- This is the kind of direct selling method from home country to other by the
aid of trading facility's. Company can export their product other nation for selling and they don't
need to make investment for development of management branch and product manufacturing in
other nation.
Licensing and Exporting is can be best mode of international tapping for Brightstar
Financialis. As it posses the huge opportunities for copamy such as through Licensing
company can devlop in the inernational market without any barriers and long with the
effective bard value due to the own management system of the organisation which prevent the
mistake which done under the others management. Exporting is good becoue there is no need to
cunduct much effeorts for the international selling of the product. Company can directly sell
their product to their company by exporting, this is the very effctive way of devloping the barnd
value at international market by exporting the good quality products and services.
l壱Compare and contrast various modes of SME can tap into international markets, assess
pros and cons of each method.
There are the multiple ways and modes for Small medium size entrepreneur to get enter
into the international market that can be joint ventures, franchising and licensing (Olabisi, and
Sawyer, 2020). All this modes have their own process and techniques along with the advantages
and disadvantages explain below.
Franchising Licensing Joint ventures PiggybackingExportingConsFor the company
which use this process to enter into the international market (Osano, 2019). There will be the
risk of brand image reductions if company standards are not follow by the franchises.Licensing
is the legal way to enter into the international market. But this relation to non payment of royalty
can cause loss of the company units. In this kind of methods company joint ventures or
collaborate parties have equally share their loss and profit and this factor can create conflict

between the parties (Tolstoy, Nordman, Hånell, and Özbek, 2020). This process is can be
risky in terms of partner trust. There will be the chances of fraud.
This can prvent the services if they dont have engough things to send. So this can be manage by
the aid of ACK control frame. This is method is can be negative in terms of the higher trading
tax and law which can effect the profitability.
This can cause incrcing adminstarion cost and company can loos exsisting cutomers of the home
market due to the lacke of focus.ProsThis method is can beneficial in terms of lower investment
and lower risk. So this can be a easy and inexpensive process (Bianchi, and Saleh, 2020). This
is the lower risk process which aid to get the biggest market share. So organisation can use it for
the achievement of this factors.
It make the opportunitiesof passive income. It reduce the problem associated with partnership.
This mode is can be beneficial because its offer the support of expert and knowledgeable
partners and useful resources of the joint ventures. Their is the option to equally manage the
risk. This can be beneficial in terms of information and partner support in effective
management. Without any investment.
It help to improve the effeciancy of organisation in context of cutomer devlopment and
profite.This beneficial because it aid to done the multinational trading with out the huge
investment and support of the others. It helps to target more customer's and consumers, give the
differzfication opportunities.
In context to the Brightstar Financialis, Licensing and Exporting is can be benficial,
through Licensing methode they can devlope thioer busness at other target nation, as it facilate
to use all essential resourcess for the business devlopment with legal permission and through this
company can save most of the cost which has to be invest in any other way of the international
devlopment. Exporting is best due to the lass requirment of the envestmetn on marketing,
manufacture and oprational activities. This which facilitate to easly devlop their business in

international marekt by exporting their products from honm cuntroy to other, by crossing the
tarding barriers.
·CONCLUSION
From the above discussion it has been analysed that international marketing is the best
strategy to grow the business, value and profit along with the segmentation of company. For
implementation of this strategy's company have to use some international stepping methods
along with the analysis of global environmental factors. Such as they have to analyse the non-
traffic and traffic barriers for sooth running of the business at international level. Franchising,
Licensing, Joint ventures, these are some mode to get enter into the international market which
has to be selected on the basis of business type, environment factors and affordability of
organisation.

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https://www.economicsonline.co.uk/Global_economics/Trading_blocs.html>