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Internet's Effect on the Global Market and Small Business

Author: Ahmed Ragab

Publishing date: 2022-02-09

Categories: Small Businesses - E-Marketing

Internet's Effect on the Global Market and Small Business

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When analyzing the Internet's effect on the global market and small business, it is important to remember that the Internet carries information as well as commerce. The effects of instant information can be as powerful as the ability to reach a worldwide audience. But small business still needs to carefully examine the effects of the Internet on international markets to understand whether or not an online presence is the right move.

Product Development

Prior to the advent of the Internet, information traveled around the world via telephone, television or print. Large businesses that were working on advances in technology would have access to the newest information, but small businesses would have to hunt for the information on their own. The Internet has allowed small businesses instant access to any new product developments and technological advances that can help improve their products and compete with larger companies.

 

Information Exchange

The way that small businesses exchange information has changed drastically since the Internet has become popular. Small businesses did not have the financial resources to arrange large meetings with suppliers or developers that would require air travel and accommodation expenses. Now, through email, online video conferencing and document-exchange websites, small businesses can collaborate with developers and vendors all over the world inexpensively and with a full exchange of necessary information.

Marketing

One of the more significant effects that the Internet has on global markets for small business is the ability for small businesses to reach an international audience for a very low cost. A corporate website can become a marketing resource for a company that can be accessed by anyone in the world. Social networking websites allow companies to interact with millions of potential clients worldwide at no cost.

 

Monitoring

The Internet allows small business owners to be more mobile by making it easier to manage a business from anywhere. A small business owner on a business trip can stay in real-time contact with his office through an online chat function and exchange important documents with anyone from any location in the world. The Internet has allowed small business owners the freedom to pursue business opportunities while still maintaining control over their businesses.

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