Question

What is the effect of globalisation on small products?

Answer 1

This is a well-known anecdote referring to the impact of globalization on small businesses. Once you start up a new business, you plunge into an ocean populated by a few smaller fish, which compete with you for food, and lots of bigger ones, eager to eat you alive. The big fish in the sea tend to be well-connected, multinational beasts taking full advantage of the perks of globalization - such as outsourcing, uneven exchange rates, and low-margin high-volume sales models - making them nearly impossible to compete against. What are the impacts of globalization on the small business owner, and how can you defend yourself from the blows that will inevitably come your way.
Exchange Rates and Outsourcing
Stay defensive
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Answer 2

One of the biggest impacts that globalization has had on small businesses is the fact that every business with an Internet connection now has access to the global market. It used to be that if you didn’t have this connection, then there was no way you could access buyers and suppliers halfway across the world. Now, every single consumer can reach into their pocket, pull out their smartphone, and access the products or services you are trying to sell. This has the potential to massively increase the revenue of any small business beyond what they were able to produce prior to globalization taking effect