Question

explain the benefit of international business​

Answer 1

The internet and technology have made it much easier for businesses of all sizes to profit from the many advantages of international trade. Going international could provide your business access to a world of opportunities.

Bruna Martinuzzi

Presentation Skills Training, Author, Columnist AMEX OPEN, Clarion Enterprises Ltd.

If you're looking to expand your business, have you considered the advantages of international trade?

Maybe you think it's safer to focus on trade on your home turf. But venturing out of your comfort zone to trade internationally may make your business stronger, more successful and more profitable.

Before you pass on expanding into foreign markets, consider some of these potential advantages of international trade.

1. Increased revenues

One of the top advantages of international trade is that you may be able to increase your number of potential clients. Each country you add to your list can open up a new pathway to business growth and increased revenues.

The 2016 FedEx Trade Index, a national survey of 1,004 small business leaders conducted by Morning Consult, shows that business leaders engaged in global trade say they're growing faster and hiring more employees than small businesses who stay stateside.

"Sixty-five percent of small businesses that trade say their revenue is increasing versus 46 percent of small businesses that do not trade," the report said. "Small businesses that trade are also 20 percent more likely to say they are hiring more employees." (Respondents included business owners and executive at companies with between two and 500 employees.)

2. Decreased competition

Your product and services may have to compete in a crowded market in the U.S, but you may find that you have less competition in other countries.

3. Longer product lifespan

Sales can dip for certain products domestically as Americans stop buying them or move to upgraded versions over time.

Answer 2

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One of the significant advantages of international trade is $<b>$Market Diversification.

⭐ Focusing only on the domestic market may expose you to increased risk from downturns in the economy, political factors, environmental events and other risk factors.