Importance of international trading links
Why are international trading links important for businesses?
International trading links are important for businesses as they offer opportunities to access larger markets, diversify customer bases, source inputs and raw materials from different countries, tap into specialized skills or resources, gain a competitive edge through comparative advantage, and expand business operations globally.
What are the advantages of expanding into international markets?
Expanding into international markets offers several advantages for businesses, such as access to new customer segments and larger consumer bases, diversification of revenue streams, potential for higher profitability, economies of scale, opportunities for innovation and learning, utilization of competitive advantages in global markets, mitigating risks associated with local market conditions, and capitalizing on emerging market opportunities. International expansion can help businesses achieve sustainable growth and expand their global presence.