How to Grow Your Business with International Trade?

 

To talk about the advantages and disadvantages of international trade, it is important to understand that the impulsiveness of the human being is a trait that is given to us by nature. It is something that we must accept to gain control over our actions. In the business world, we find quite frequently that idea or need of having to act quickly to achieve success.

Among the frequent errors that occur when internationalizing a company, we find the fact of underestimating the process itself. No, we are not facing a bed of roses that only brings good news and good dividends for those who bet on it, but rather a strategic marketing decision that can make our company grow a lot or end up causing a fatal blow.

If you’re just breaking into the world of exporting, this article might be just the thing you need. Bellow, law professor and international trade specialist Ari Afilalo is offering his 5 tips for utilizing trade missions to grow your business.

What are the advantages of international trade?

If we get practical, knowing the disadvantages and benefits of international trade is "easy", in the end it is just another market strategy. Raise our company to a larger showcase? It may be one way of looking at it, but we must not forget that greater exposure also carries greater risk and higher costs.

For Ari Afilalo, this is where the key to success in internationalization lies, knowing how to anticipate the advantages and disadvantages of international trade.

Improve our competitiveness

Betting on international trade expands the limits of our market. One of the possibilities coupled with this circumstance is the fact that we will be able to count on suppliers that offer more competitive prices than those found in our local market.

Generator of employment

If we look at the foreign companies with which we will have to collaborate to carry out our internationalization strategy, we can think that our collaboration will cause an increase in the volume of work for these companies and, therefore, a theoretical increase in employment.

Attraction of new investors

As Ari Afilalo has previously mentioned, if international trade means having a larger showcase, we also have to understand that this greater showcase can attract new investors. Especially if, by making use of new international agreements, we improve our competitiveness and increase the value of our product.

Higher efficiency, higher profits

If we succeed in executing the previous three points in a profitable manner, it seems inevitable that we will improve the competitiveness of our company and, therefore, increase profits.