International

International business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational level. It involves cross-border transactions of goods and services between two or more countries. Transactions of economic resources include capital, skills, and people for the purpose of the international production of physical goods and services such as finance, banking, insurance, and construction. International business is also known as globalization.

About

Cambridge dictionary defines international business as – “the activity of trading goods and services between countries”. However international business is beyond this definition, it has a very wide scope.

To conduct business overseas, multinational companies need to combine separate national markets into one global marketplace. There are two macro-scale factors that affect the trend of greater globalization. The first consists of eliminating barriers to make cross-border trade easier (e.g. free flow of goods and services, and capital, referred to as “free trade”). The second is technological change, particularly developments in communication, information processing, and transportation technologies.

TYPES OF INTERNATIONAL BUSINESSES

All the major international business conducted in the world can come under seven main types.

  • Imports and exports
  • Licensing
  • Franchising
  • Outsourcing and offshoring
  • Joint ventures and strategic partnerships
  • Multinational companies
  • Foreign direct investment

How we work

Expert business intermediaries at Creative Business Services are available to assist you in navigating the often-complex landscape of buying or selling in the international arena.

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