Local Businesses

1.Fewer than 1% of the companies are currently export. This happens because business establish border for them self, and not the actual border on the map. This mental barriers are: doubts, uncertainty, fear. Moreover, they doubt that there is international trade available for them. Uncertainty about how to reach customers in foreign markets. Finally, fear that conducting international business is risky.

I am thinking about a lot of local businesses that we have in Italy, especially food oriented. A lot of them would benefit in exporting because they have the highest quality possible, and they could reach any market in the world.  However, most of them do not have the capacity and the knowledge on how to get bigger and grow internationally.

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I mentioned Italian food because I would say that it would not be tough to convince potential customers on the quality of the product, and as soon as you do a good advertisement, good products like that will be successful no matter what.

 

2. 1/ What percentage of companies currently export, and why do you think that is the case?

According to the Ted talk video, 98 percent of small and medium-sized businesses export, but less than 1% of companies export. There is a desire for products from other nations rather than those from the United States or Canada, and the export process is now more accessible with delivery. Furthermore, the fact that 70% of the world’s purchasing power and 95% of the world’s consumers have access to foreign markets means that more small and medium-sized businesses are exporting.

2/ Mention a local business that could benefit from exporting, how and why? 

In my hometown, I want to mention the coffee export company. People’s demand for coffee is higher and Vietnamese coffee is known as one of the famous coffee brands in the world market. Vietnam’s valuable and quality coffee products are suitable for the diverse consumption needs of manufacturers and international consumers.

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