Global business is the biggest business market in the present world. The export and import industry was only expanded largely after the industrial revolution that occurred in the eighteenth century. While business within states compete in small levels, global businesses compete in large scale to get a higher rank in exporting and importing goods. When a company steps into the global marketing world, there are several facts that impacts the business, for example a large sum of money is involved, number of employees affect the running of the business, chain of companies would need to be brought up due to export and import, and many legal issues. Therefore, there are many advantages as well as disadvantages.
The advantages of the export and import industry.
The biggest advantage of the export and import industry is that customers get to purchase any good or service within their country. Goods of japan and china can be purchased in the local super market of your country. This comfort in getting any good or item you need within a limited time for an affordable amount of money was not available in the past. As the export and import industry is a new concept it has paved way for many new businesses as well as new employment opportunities. Few of such new jobs related to the export and import industry are supply chain recruitment agencies in Sydney marketing jobs and language translating jobs. Another advantage is that the international relationships between countries grow due to their friendly export and import trade terms. Under developed countries by exporting their goods to developed countries earn more foreign currency to their states. Thereby it helps their economy to uplift.
The disadvantages of the export and import industry.
While there are many advantages of the export and import industry, there are also few disadvantages that tag along. By havening many import goods in the local markets, citizens may get attracted and be willing to purchase imported items. This would reduce the demand for the local substances which are produced within their countries. This therefore would affect the supply and demand of the local market massively.
As a solution for this issue the government should implement a freight forwarding jobs which would increase the price of the imported goods. Also, there should be a law to import limited goods which are unavailable in the country. Another disadvantage of exporting and importing goods is the language barrier. As every country have different languages used in their countries, customers would find it difficult to understand the good which is instructed in a different language. Therefore, it is essential to have chains of companies in all the countries that these export and import industries take place to manufacture appropriate containers with the prevailing language of the country.