Political instability, language and cultural differences, monetary and exchange rate risk, and the obligatory bureaucracy and red tape can create formidable barriers to international trade. Without question, technology is one of the key drivers in the global economy of the 21st Century. The Internet alone has changed the way we do business leveling the playing field while at the same time increasing global competitiveness. While it is easier to promote your goods in multiple countries simultaneously, your goods also face stiffer international competition as well. The key to going global is to do your homework before you start.
Research is critical to understanding the intricacies of global business.
The reason for such growth is the establishment of approximately 600 new tourist resorts in the Red Sea coast and Sinai region. The SBA's financial assistance to small business exporters has grown over the years. Technology and globalization are opening markets to small, entrepreneurial, and family firms at an unprecedented pace. Transactions between countries are rapidly becoming as easy as doing business down the street. All Rights Reserved. .