Expanding wings to the global platform was a distant dream for startups and small businesses a few years back in time. The scenario is altogether different now. It’s no longer a rocket science for these enterprises to touch globalization. Almost every second small business or startup is now playing, and locking horns, with the big international guys.
The small businesses, aka micro multinationals, share common traits with multinational businesses and are ambitious ventures which complement domestic processes by hiring staff and starting up offices in more and more transoceanic marketplaces.
Influence of international trade
International trade drives unparalleled innovation that backs up businesses of all shapes and sizes to benefit from global opportunities, thereby reinforcing the global economy. Various evidence hint that the confidence in global opportunities is rapidly increasing amidst these small multinationals since it provides them increased benefits over small businesses operating in a single market.
The surge in use and efficiency of Internet technologies and modern satellite has worked as a catalyst to inspire a growth in these trends. Efficient connectivity and consistent search for cheap labor have worked well in favor of micro-multinationals for achieving competitive benefits.
Selling cross border goods and services is now easier
In terms of global scenario, it has been seen that the growth of micro multinational businesses is way more than that of small and medium scale businesses operating in a single marketplace. Selling cross border goods and services is now easier as compared to earlier times, seeing the rise of international trade by which these micro multinational enterprises are benefiting big time.
The increase in the micro multinational concept has helped small businesses encompass the world and maxing out the advantages from cross-border service trade. However, the results are produced by a consistent international value chain that can ward off barriers and inspire small and medium sized businesses see the bigger picture instead.
Ari Afilalo is a musician, author, researcher and professor based in New York City. With an exquisite experience, he has been part of various research on varied subjects relating to international business transactions, EU Laws and international trade. In addition, he has vast practical experience as a law clerk, and has keenly focused on international commercial & intellectual property and financial transaction during his tenure. At present, his research eyes the relation between international trade order and the nature of the state.