International Market Analysis and Entry Strategies for SMEs

This report examines the international market entry strategies for small and medium enterprises (SMEs), using Rowlinson Knitwear as a case study. It begins by explaining the global business environment and its impact on SMEs, including the opportunities and threats they face. The report then delves into the advantages of international trading blocs and agreements, as well as the tariff and non-tariff barriers encountered in international trade. It further explores the merits and demerits of importing and exporting, including how deals can be secured, and distinguishes between merchandise and service imports and exports. The core of the report evaluates various methods for SMEs to enter international markets, comparing and contrasting different approaches. The analysis incorporates tools like PESTEL and SWOT analysis to assess the external and internal factors influencing business decisions, particularly in the context of expanding into new markets like Australia. The report concludes with a summary of key findings and recommendations for SMEs looking to expand their global presence.

Tapping into New
International Market

Table of Contents
Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
P1 Explain the global business environment in the context of small business............................1
P2 Discuss the threats and opportunities that is being faced by SME’s......................................2
P3 Advantages of international trading blocs and agreements....................................................4
P4 Discuss several tariff and non-tariff barriers that exist in international trade movement......5
P5 Discuss merits and demerits of importing and exporting and how a deal can be secured.....5
P6 Distinguish between merchandise and service import and export.........................................7
P7 Evaluate the different methods for SMEs to enter into international market.........................7
P8 Compare and contrast several methods to enter into international market............................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Tapping into international market provide an opportunity to small and medium enterprises to
grow as it help in diversification and modernisation of a business (Amagoh and Rahman, 2016).
In addition to this, it creates an enormous opportunity so as to gain competitive position across
the globe. This report is based on Rowlinson Knitwear which is a renowned brand in UK as it
deals with manufacturing of school uniforms and corporate wear. This report comprises on
various opportunities and threats that arise in a global business environment. This report covers
advantages of trading bloc and several importing and exporting practices involved in global
environment. Also, several methods of tapping into international market is covered in this report.
P1 Explain the global business environment in the context of small business
In an era of globalisation, there is changes in technology, taste and preference of customers
and many more and it involve exchange of ideas, goods or services across the boundaries from
one place to another (Basher, Haug and Sadorsky, 2016). It helps in economic development of
the country and also create an enormous job opportunity for small and medium enterprises to
expand heir business internationally. Therefore, this generates maximum revenue and increase
the productivity in a market. This report is performed on the basis of small enterprises in United
Kingdom, namely, Rowlinson Knitwear which deal with variety of garments such as school
uniforms and garments and planning to expand its operations in Australia which boost the
opportunities for a company and thus gain maximum exposure of large number of individuals.
Political conditions and stable rules and regulations aids company to facilitate smooth operations
of a business and thus this shape a bright future for making the business at an international level.
Proper planning and its execution of activities provide an opportunity for business to
grow at a global level. Global business environment has brought overall transformation in
business with respect to advancement of technology and aids in taking fast decisions and it also
simplify the overall working procedures with new and innovative ideas. Small and medium
enterprises create an employment opportunity for around 60% across the globe and also and its
contribution in the national revenue is around 11 million pounds (Chen, Kim and Kohli, 2017).
Today in a competitive era, it is necessary for SMEs to prepare an appropriate strategy so as to
gain maximum exposure in an around the globe. Foreign Direct Investment provide an enormous
opportunity to small and medium enterprises to increase investment and also develop a brand
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image in different parts of the country. New innovations and development create a new market
for small enterprises as these are always in demanding and help in conducting fast operation of a
business. Expanding business at a global level provide an enormous opportunity to small and
medium enterprises to prepare a strategy so as to gain competitive advantage and also help in
bringing new and advanced technology that help in conducting fast operation of business
efficiently and effectively. This boost the sales which in turn enhance the revenue and therefore
increase the productivity and profitability in a competitive market. In addition to this, the
manager of Rowlinson Knitwear is planning to expand its operations at a global level which
bring new and innovative technology which ensure success in future and also generate revenue
within the market.
P2 Discuss the threats and opportunities that is being faced by SME’s
The impact of Brexit in UK has created an imaginable chaos and create a negative impact
on the economy through several ways and also it affects especially the small enterprises (Hoda,
2018). By looking this aspect, the manager of Rowlinson Knitwear is planning to expand its
operations in Australia which ensure a greater growth in future. In this relation, PESTEL analysis
is conducted to scan both internal and external factors by determining the availability of
resources and it is presented as follows:
Political factors: The political condition in Australia is good and stable and has stable
ruling party since a long time (Horn, 2016). In this aspect, the manager of Rowlinson Knitwear
could provide a growth opportunity as it ensures same policies and procedures for a long time
and create a positive response for the company.
Opportunities: The stable political situation in Australia provide an opportunity to SMEs
to maintain a consistent policy for a long time and same rules and regulation to be implemented
which ensure greater transparency and accountability.
Economic factors: This constituent several factors such as inflation, level of
employment, GDP, competition and many more. Australia is regarded as the highest GDP and
also it ensures greater growth prospects in a business. The manager of Rowlinson Knitwear
generates more revenue and contribute to a significant position across the globe.
Opportunities: Foreign Direct Investment provide an opportunities to SMEs like
Rowlinson Knitwear to expand its operations which generates multiple streams of revenue and
boost the sales of company.
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Social factors: The population in Australia are highly diversified and educated as they
prefer standardised products. This could help Rowlinson Knitwear to understand the needs and
wants of customers and thus provide an opportunity to grow its business to the next level (Ives,
2017).
Threats: Customers always prefer highly standardised merchandise and switching cost is
high which possess a big threat for company like SME’s as it declines the sales and productivity.
Technological factors: Australia is well known for advancement of technology in the
world which would help small firm such as Rowlinson Knitwear to use advanced technology so
as to conduct fast operations of a business in an efficient manner.
Threats: change in rapid technology is a big threat for SMEs as they would not be able to
acquire new and advanced technology quickly due to shortage of funds.
Environmental factors: By looking towards an awareness of population towards
environment, the respective firm would use paper bags and adopt the strategy of reduce, reuse
and recycle so as to achieve sustainable development in a long run.
Opportunity: This provide an opportunity to SMEs as they are using renewable source of
energy and take several environment protections measures which increase the positive reputation
across the globe.
Legal factors: it is essential for Rowlinson Knitwear to follow rules and regulation and
strict code of conduct so as to facilitate smooth operations of a business (Jell-Ojobor and Alon,
2017). Proper code of conduct would help in ensuring business to be conducted in a fair and
efficient manner.
Opportunities: One of the greatest opportunities is that there is lack of political
interferences in Australia which allow small enterprises like Rowlinson Knitwear to conduct
business in a smooth and efficient manner and thus provide a greater success as firm is not
required to change its policies and procedures in a frequent manner.
Impact of Opportunities: This would enhance the growth of a business at a global level
and thus gain a competitive position around the globe.
Threats: Changes in inflation rate would affect the purchasing power and also there are
several changes in technologies which create difficulty for SMEs to purchase it.
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Impact of threats: This would affect the growth of Rowlinson Knitwear as it requires
huge funds for new and advanced technology as Australia is a developed country and innovative
technology is must to ensure growth (Khan, 2016).
SWOT analysis: This determine the internal capabilities of a firm by assessing both
positive and negative aspects by combatting threats and make use of opportunities. In the context
of Rowlinson Knitwear, same is presented as follows:
Strength Weakness
One of the major strengths is that Rowlinson
Knitwear would generate strong brand image at
global level and thus gain large access of
customers.
The weakness that could be faced by the
concerned firm is that shortage of funds and
weak cash low position would hamper the
growth of a firm.
Opportunity Threats
Advancement of technology and new ideas
would provide an opportunity for business to
grow and expansion in a developed country
such as Australia would boost the productivity
of Rowlinson Knitwear. Also, stable political
conditions would ensure efficiency and
effectiveness of business.
There are large number of competitors present
in the market which possess a big threat for the
company like Rowlinson Knitwear. This affect
the purchasing power of consumers and thus
reduce the productivity and profitability of
business enterprise.
P3 Advantages of international trading blocs and agreements
Trading bloc is an agreement between the two states which is formed for the purpose of
reducing several tariff barriers (Longin and Würschum, 2016). In other words, it is considered as
a group of countries that facilitate international trade and focus to eliminate trade barriers. This
facilitate economic development at a global level and also emphasise on creating a better
environment among their members for trade. Rowlinson Knitwear is currently operating in
United Kingdom and it is planning to expand its operations in well established country like
Australia. This promote the growth of company as it enhances the brand image across the globe.
Types of trading blocs:
Custom union: This emphasise on eliminating trade barriers as well as considered the
acceptance of external tariff which is not in favour of non members.
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Free trade area: As the name suggest, it involve in reducing trade barriers on all type of
merchandise that is arising from different countries.
Preferential Trade area: This consider particular geographical location when countries
prefer to eliminate trade barriers as it is one of the major considerations which is practiced in
modern era.
International Trade theory
With reference to Rowlinson Knitwear, it is presented as follows:
Country similarity theory: This suggest that two countries that possess similar
characteristics with same merchandise and also have same taste and preferences of customers
and same per capita income would be easier for SMEs to facilitate trade.
Product life cycle theory: This comprises of three main stages, namely new product,
maturing product and highly standardized merchandise. The respective firm would develop new
market such as traditional wear by research and development which boost the sale.
Global strategic rivalry: there are several barriers that SMEs face when they tries to enter
into new market which include research and development, economies of scale and many more.
Porter’s National Competitive Advantage theory: this is one of the important
international trade theory which assist the SMEs to gain sustainable competitive advantage
across the globe and also it determine the level of attractiveness and profitability in the
marketplace.
In the context of Rowlinson Knitwear, the advantages of international trading blocs:
Increased competition: Trading blocs create a competitive pressure among the countries
as it ensures quality specifications and thus increase the efficiency within the market. this result a
decrease in prices of merchandise as rate of tax is decreased which provide an opportunity to
Rowlinson Knitwear to increase their profits.
Provide growth opportunities: This provide an opportunity especially to small and
medium enterprises like Rowlinson Knitwear to minimise unnecessary barriers and thus facilitate
smooth flow of activities in an effective manner.
Improve the effectiveness of market: Rowlinson Knitwear would set a minimum price
floor by elimination of tariff which increase the productivity and efficiency of market and also
allow to operate the business in a best possible manner.
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Promotion of Foreign Direct Investment (FDI): This is one of the major benefit of
Trading blocs which create an invest opportunities among different countries and allow SMEs
like Rowlinson Knitwear to enjoy greater economy of scale in a competitive era.
Technology transfer: This aspect provides an opportunity to ensure transfer of
technology among the developed country and also it create strategic alliance which would help
small enterprises to achieve competitive advantage across the globe. In relation to this, various
aspects such as Ecommerce is an emerging tool as well as online facilities would boost the sale
of merchandise as several tariff berries are imposed.
P4 Discuss several tariff and non-tariff barriers that exist in international trade movement
Tariff and non-tariff barriers impost the restriction of movements of goods across the
boundaries of countries at a global level. Such barriers are presented below:
Tariff barriers
Import duty: This type of tax is imposed while importing the goods from different
country and also it raises maximum revenue which affect the profitability of the company (Miao,
2016).
Transit duties: This ensure the taxation charges on merchandise from country to another
as a result cost of production increases which affect the overall operations of business.
Specific duty: This aspect is based on tangibility of products as fixed level of tax is levied
by keeping into the mind the weigh and volume of product.
Rowlinson Knitwear would chose tariff barrier of import duty in conducting business as
it would increase the revenue and facilitate smooth operations of business.
Non-tariff barriers
Quotas: This ensure a penalty in a case when importer charges more amount of tax for
the products than its actual cost. As a particular limit is set on the goods that are to be imported
or exported among different countries.
Subsidies: These are the grants or tax holiday that is provided by the government as it
provides assistance to the producers to gain a control over the market. This provide an easy
access to small and medium enterprises to minimise the cost and could achieve competitive
advantage across the globe.
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Administration dealings: These are controls and specific rules and regulations that affect
the operations of a business and also it facilitates smooth flow of activities and thus simplify the
working procedures.
Grants: this means the assistance that is provided by the government among several small
enterprises so as to achieve sustainable competitive advancement at a global level.
Rowlinson Knitwear would choose subsidies for its business enterprise as it helps to
enjoy greater economy of scale and provide assistance in gaining maximum customer
satisfaction. Also, this aspect decreases the cost and improve the performance especially in a
competitive market. This increase the productivity and achieve desired level of output.
NAFTA is a trade arrangement that ensure a complete improvement in way of conducting
a business and provide competitive advantage by providing advanced and innovative technology
which ensure maximum exposure in different parts of the country. The complete elimination of
non tariff barriers would provide an enormous opportunity to SMEs to expand their operation
internationally and also emphasise on improving the productivity and profitability.
Advantages of trading blocs:
One of the advantage is that NAFTA provide consumers to acquire standardised products
or services at low cost which provide an opportunity to SMEs to minimise trade barriers and also
it decrease the cost of production and boost the sales in a marketplace.
Implications of blocs and agreements on SMEs
Lack of job opportunities in a competitive era which create employment problem
especially in case of SMEs like Rowlinson Knitwear to decrease the scale of operations.
P5 Discuss merits and demerits of importing and exporting and how a deal can be secured
In the context of Rowlinson Knitwear, the merits and demerits of importing and exporting
are described as follows:
Exporting: It involve a trade such as merchandised produced within one country are
purchased by another country at a global level. There are several ways of involving export
between countries such as aeroplane, ship, mail etc. With reference to Rowlinson Knitwear, the
merits and demerits of exporting are as follows:
Merits of Exporting: This provide an opportunity to small and medium enterprises to
capture large market share and promote innovative ideas so as to achieve a significant position
across the globe (Najmaei and et.al., 2017). Rowlinson Knitwear would focus more on exporting
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as it generates greater revenue and thus increase the productivity and profitability within the
market and develop brand image in different locations.
Demerits of Exporting: Due to the reason of excessive competition, it would difficult for
firm to create a brand awareness. Rowlinson Knitwear does not emphasise on more marketing
campaigns and advertisements and provide products with attractive packaging due to the reason
that it has shortage of funds. In addition to this, exporting creates lot of risk such as spoilage,
damage and chance of theft and many other abnormal losses which decline the productivity.
Importing: This involve the procedure of acquiring goods or services from one one
country to another country and it also impose several tariffs that is subject to an agreement and
also it provide an opportunity to bring new and innovative products so as to gain maximum
customer satisfaction across the globe (Pearce, Bacas and Bassani, 2016). In the context of
Rowlinson Knitwear, pros and cons of same is presented as follows:
Merits of Importing: this provide an aspect to acquire merchandise at low cost of
standardised quality to SME like Rowlinson Knitwear that decrease the cost of production and
increase the profitability at a global level. This boost the sale and productivity of SMEs and this
achieve competitive advancement.
Demerits of Importing: The greatest drawback of importing in case of SME is that it
would require a lot of formalities in obtaining licensing and documentation which consume both
time and resource which in turn lead to delay in decision making of a firm. The arrival of
situation of trade deficit would create difficult for Rowlinson Knitwear as a result affect the
internal affairs of company and also decline the productivity in a competitive market.
At a global level, there is excessive competition in the market which posses a big threat
for small and medium enterprises. Rowlinson Knitwear emphasises more on quality
specifications so as to gain large access of customers from different parts of the country
(Rahman, Zailani and Musa, 2017). A deal can be secured by removing several barriers such as
cultural and language barriers which could be possible through excellent communication
strategy. Also, proper and efficient training should be provided among the subordinates of
Rowlinson Knitwear so as to make them capable of handling sophisticated machines as well as
inculcate confidence and determination among them. Planning and proper coordination would
provide assistance to the SMEs to grow their business internationally that provide a vast
opportunity and develop a best future. In addition to this, this would assist the respective firm to
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secure a deal and also use of new and innovative technology so as to conduct fast operation of
business efficiently and effectively. Eliminating trade barrier among the countries is one of the
effective method to secure a deal as it facilitate smooth operations of a business and also the
respective firm could emphasise on selling best and superior products at different locations
which generate maximum sales and ensure customer satisfaction at global level. In addition to
this, the firm could boost the competitive market by providing offerings at a low cost which in
turn develop brand image across the globe.
P6 Distinguish between merchandise and service import and export
Comparison of merchandise import and export: Merchandise imports are those physical
products that are acquired from particular country while in case of merchandise exports are those
physical articles that are sent out to another country. The former represents a high import level
which means that there is a great demand of goods while the latter represent the sign of high
export level as it shows a higher level of trade balance among the country (Ryan, Evers, Smith
and Andersson, 2019). In the context of Rowlinson Knitwear, it emphasises on merchandise
import in order to get new and advanced technology and thus contribute a significant position.
Also, in case of export merchandise the respective firm focuses on selling its products in
different parts of the country in order to boost sales and thus depict the profitable position as it
also enhances the brand image at a global level. In case of merchandise import, this ensure that
there is high demand of products so the manufacturer product according to market demand while
in case of merchandise export, there is greater supply of products at low cost so as to gain
maximum exposure.
Comparison of service import and export: Service import are intangible in nature which
is purchased from one country and also ensure maximum customer satisfaction while in case of
service export are those intangible amenities that are provided to other countries in according to
their demand of services. The former is done for the purpose of fulfilling the demand of nation
while the latter is done for the purpose of raising the international market and thus improve the
image. With reference to Rowlinson Knitwear, the emphasise of service import is to deliver
excellent services to giant group of individuals while service export focus on achieving positive
reputation across the globe. In case of service import, emphasise on providing offerings by
delivering fast and efficient of services so as to gain maximum satisfaction while service export
emphasise on supply of amenities depending on the market demand.
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P7 Evaluate the different methods for SMEs to enter into international market
In a business environment, it is necessary for firm to enter into international market as it
helps in gaining competitive position around the world and provide a maximum exposure to
capture large market share. In case of highly competition among small and medium enterprises,
it is essential to have giant amount of capital, transportation facilities and many more so as to
achieve a significant position and thus increase the efficiency and effectiveness within the
market. With reference to Rowlinson Knitwear, different ways to tap into international market
are described as below:
Franchising: It is one of the important elements for entering into international market as
it allows another firm use its brand name but in return it charges fee while rendering the services
in the market. this would aid Rowlinson Knitwear to expand its operation especially in Australia
and thus develop positive reputation at different locations. The pros and cons of franchising are
given below:
Pros of franchising: This allow to gain large exposure of public as it has generated an
established brand name and boost the sale within the market.
Cons of franchising: one of the disadvantages is that it requires huge investment and
create several restrictions which possess a difficulty to raise funds within the market.
Joint ventures: It involve combination of two or more parties in order to accomplish the
common purpose. This provide an opportunity to SMEs to grow their business by forming
strategic alliances and also involve sharing of profit and losses among the business partners.
With reference to Rowlinson Knitwear, its pros and cons are as follows:
Pros of Joint Venture: This provide an opportunity to Rowlinson Knitwear to enjoy
greater economy of scale and also burden of risk is reduced among the firm.
Cons of Joint Venture: This give rise of possibility of conflict among the parties and
create misunderstandings and confusion which hamper the growth of a firm.
Licensing: This is very essential element as it aids in diversification, modernisation and
expansion of a business and it provide with method in which firm sell the right to use intellectual
property. Rowlinson Knitwear has acquired license so as to diversify its operations in different
locations which in turn provide an enormous growth of a company.
Pros of licensing: this provide an opportunity to small enterprises generate different
revenue streams that provide enormous growth in future.
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Cons of licensing: The most important drawback of licensing is that there are high
chances of trade secrets to be leaked out.
Partnership with larger organisations: this provide enormous opportunity to SME like
Rowlinson Knitwear to combine with larger organisation which involve sharing of resources and
ideas and boost the decision making of firm.
Pros: this increase the sales and accelerate the profitability and another major advantage
is that it burdens of risk is reduced as loss is shared among the parties.
Cons: It could lead to conflicts and misunderstanding as view due to indifference in
opinions and changes in clashes of culture.
Establishing outlets abroad: This provide a growth to Rowlinson Knitwear to expand its
operations in different parts of the country which ensure positive brand image.
Pros: Establishing branches of Rowlinson Knitwear in Australia would bring new and
advanced technology within the market and boost the sales and productivity.
Cons: It is difficult for SMEs to expand its operation as it require huge sum of investment
and high research and development.
With reference to Rowlinson Knitwear, it would choose Franchising to enter into
international market as there is little risk and it is easy to operate business due to the reason that
it requires less formalities and is cumbersome free procedure. Also, in this case, brand name is
well established which provide an easy access of market at a global level.
P8 Compare and contrast several methods to enter into international market
In an era of globalisation, there is advancement of technology and changes is taken at fast
pace (Sawyer and Sprinkle, 2019). In the context of Rowlinson Knitwear, various methods of
tapping into international market are given below:
Comparison of licensing and Franchising: Franchising is an agreement that provide the
right to the franchisor to use such product or services in according to the brand name. franchising
ensures hiring of potential candidates so as to enhance the productivity and also produce
effective results. But at the same time, it involves huge cost which become difficult for small
enterprises such as Rowlinson Knitwear to enter into the market. Licensing is an agreement that
involve granting of permission and set up cost is high. The difference between licensing and
franchising is that specialised training is required in case of franchising but no training is
required in licensing. Rowlinson Knitwear would adapt franchising a best method as it involves
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expansion and modernisation of well-established brand name and help the concerned firm to gain
competitive advantage in a competitive era.
Comparison of Joint venture and direct exporting: Joint venture is formed of two or
more companies who combine together for accomplishment of task in a shot span of time. The
benefit of joint venture is that it provides SMEs to enjoy greater economy of scale as risk is
meagre but at the same time there is possibility of cultural clashes which create barriers among
the firm (Zhang and Tse, 2018). Direct exporting involves direct selling of merchandise among
the large group of individuals at a low cost. One of the benefits of direct exporting is that it
involves greater protection towards the intellectual rights but at the same time it is regarded as
time consuming that require lot of formalities. Direct exporting is regarded as an appropriate
method for SMEs like Rowlinson Knitwear as it decreases the cost of production and increase
the profitability within the market.
Comparison of Partnership with large organisation and Establishing outlets:
Combining of Small enterprises like Rowlinson Knitwear with large size organisation would
provide an opportunity to expand its operations as it would bring new and innovative technology
and also provide talented employees who work with greater efficiency and zeal but at the same
time it create language barriers and give rise to conflict. Setting outlets or branches in different
location provide growth to Rowlinson Knitwear and also it develop positive reputation across the
globe but it require huge sum of funds. Establishing outlets would facilitate new technology and
also facilitate smooth operations of business but at the same time rapid obsolescence create
huddle for small and medium enterprises. Rowlinson Knitwear would consider establishing
outlets as best method because it provide vast growth and positive reputation at a global level.
CONCLUSION
From the above information, it can be comprehended that the business environment in
which company carry out its operation is regarded as dynamic so it is essential for the manager
to facilitate several changes so as to gain competitive position across the globe. Also, it has been
analysed that making a business at a global level provide an enormous opportunity to grow and
also determine importing and exporting procedure so as to conduct smooth operation of a
business. Several methods of tapping into international market is also mentioned in this report.
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