International Business Opportunity - How to Make Big Profits All Over the World

When it comes to making profit all over the world one of the best ways to do so is to take advantage of an international business opportunity. This kind of opportunity can be done on the Internet and it can be promoted to all types of people all over the world. This is one of the biggest advantages since you literally do not have any limitations when it comes to marketing your product or service.

Even though you will have to deal with people that do not know your language it will be a huge market for your capture because not only are you going to be successful for getting people in your specific country but also the different countries around the world. When it comes to limitations the only thing that restricts your profit is not being able to promote all over the world and this is why a lot of people who just get involved in local businesses are never able to go to another level in profits.

Dedicating the time to learning about the facts of the international business opportunity will pay off in the long run when you're finally able to start your own international business. It will take some time for you learn and get familiar with the different languages and countries that you will be dealing with but remember that it's worth it in the long run even though it will take some time to investment into it.

There are many different types of international business opportunities available on the Internet so just make sure you take your time when it comes to choosing one. Make sure you're comfortable with the opportunity and that they offer a very valuable service at a very affordable price. This will prove to be a huge help in the long run when people are very satisfied with what you are offering and continue to stick around.

The Importance of English in International Business

The major factor involved in the importance of English in international business is the acceptance of English as the international language of the business community for the purpose of uniformity in communication. Accepting English eliminates the need to explore an alternative language. If not English, then what language works better for the international business community?

English as an International Language

Perspective of English as Global Communication

If English as a global language "means that English has the widest distribution on the most continents, it is true. If it means that English is the language most utilized for international communication between and among language communities, it is true. But if it implies that English is the language of all the peoples of the globe, it is manifestly false" (Harris, 2001, 685). What may be good for the functionality of business may not be accepted as being good for the non-business community. With any new project or venture, research and development of the product or service should be done so that words used to communicate with the new market are not received with offense. Be sensitive and respectful concerning the decisions made in regard to the ways communication is used and worded.

Perspective of English as Learned Communication

"It is crucial that students are equipped with-and be aware of-both the linguistic and strategic repertoire that they can draw from in situations where they use English to communicate with those who do not share their first language and culture. In addition to the development of strategic competence, students also need to be reminded that communication is a two-way road. That is, making one's own message clear and trying to understand others is not the sole responsibility of non-native speakers or speakers of 'less standard' English varieties (however that is defined). Everyone is responsible for overall successful communication, whether it is international or not" (Matsuda and Friedrich, 2011, 340). Be mindful that words can have different meanings in different parts of the same country. Therefore, having words that have different meaning in different parts of the world is a reasonable possibility. There can also be different versions of English in different locations. Business English could also be different from the native English of an English-speaking country. Do not assume; technology has been made available to know for sure what is involved in any given business project or transaction.

English in International Business Communication

"In thinking about the impact of English on international business, there will be two effects: the intra-language effect and the inter-language effect. The intra-language effect would relate to the impact that English has in stimulating international business activity between English-speaking countries" (Hejazi and Ma, 2011, 153). If the native English of each of the two countries is slightly different, it still could have the feel of dealing with a non-English speaking country if time is not spent coming to an agreement defining business English. Business professionals new to a market will benefit by finding out how things work and use the same language the other market stakeholders are using.

"The inter-language, commonly referred to as "lingua franca", effect refers to the impact English would have on stimulating FDI activities between countries which have different official languages. The inter-language effect would have two dimensions: the first involves the use of English by a non-English-speaking country when carrying out international business with English-speaking countries; the second involves the situation in which English is used as a vehicle language between two non-English-speaking countries that use different official languages" (Hejazi and Ma, 2011, 153). Even though cooperation in using English in both cases may result in positive benefits for the countries involved, sensitivity in communication should be exercised to avoid miscommunication that may offend members of the markets involved. Good judgment with word choice is very important.

International Business Cooperation - Does The Olympics Help the Process?

No one can deny that the Olympic Games bring nations together, and help humans understand that we aren't all that different, and that we all very much care about doing our best, our country, and competition. Recently, some scholars have gotten together and noted that the Olympic Games have not stopped humans from having wars, and while that may be true, we don't know for sure how many wars have been prevented due to the mutual benefit and coming together of humans across the planet in these Olympic Games over the years.

Now then, let me ask you a question; "do the Olympic Games also help international business cooperation, free and fair trade, and working together to help economic development and our global economy?" I believe the answer is yes, and I have noted in discussing with my international business acquaintances about the Olympic Games, and I have congratulated them on one of their athletes or teams in winning a gold medal or competing quite handedly in Olympic competition. Indeed, I have also noted the topic being brought up by them to me.

If anything else, this becomes an icebreaker, a celebration of humanity and human competition across the planet. We are much better off if we can compete in sports competition rather than in wars. Perhaps this is what the International Olympic Committee had considered around the turn of the 1900s. In hindsight, and we can mathematically point to these issues, there have been more wars, not fewer, and more people killed in wars as well. Of course we can't blame this on the Olympic Games, nor should we pretend that the Olympics could stop all human conflict.

Nevertheless, it has helped in so many other ways such as; international trade and negotiations, and in international business. More deals are made across borders when we are better able to understand the person on the other side of the phone or across an ocean. Therefore, it would be very hard to debate that the Olympics haven't been good for international business and trade, the evidence is indeed clearly there, and I can attest to that from direct experience and observation, as can a number of other business owners, and corporate multinational conglomerate executives.

I would say that is a good thing, and it's just too bad that the Olympics only come around every four years. Perhaps it would be nice if they could come twice as often, which is another concept altogether. Indeed I hope you will please consider all this and think on it, let's unite the world.

Barriers to International Business

Firms desiring to enter international business face several obstacles; some are much more severe than others. The most common barriers to effective business are cultural, social, and political barriers, and tariffs and trade restrictions.

The first one to effective business is the cultural and social barriers. A nation's culture and social forces can restrict international business activities. Culture consists of a country's general concepts and values and tangible items such as food, clothing, and building. Social forces include family, education, religion and customs. Selling products from one country to another is sometimes difficult when the cultures of the two countries differ significantly. For example, when McDonald's opened its first restaurant in Rome, it was met with protest. The people of Rome objected to the smell of hamburgers frying. McDonald's overcame this objection by changing the exhaust system of the restaurant.

The second barrier is the social forces that can create obstacles to international trade. In some countries, purchasing items as basic as food and clothing can be influenced by religion. In many nations, individuals do not have the same choices in food, clothing, and health care.

The third one is political barriers. The political climate of a country can have a major impact on international business. Nations experiencing intense political unrest may change their attitude toward foreign firms at any time; this instability creates an unfavorable atmosphere for international trade.

The last one is the tariffs and trade restrictions. Tariffs and trade restrictions are also barriers to international business. A nation can restrict trade through import tariffs, quotas and embargoes, and exchanges controls.

International Business To Business Payments

With the huge amounts of business transacted online, there is a growing concern amongst businesses about managing payments. Business to business (B2B) payments at the international level are a major concern since the amounts tend to be larger and the charges are appreciable. This results in some loss in profits, which makes global commerce less attractive. From the smallest business operating on the web to huge conglomerates that transfer large amounts of funds internationally, everyone wants cost efficiency in their payment system. The issue is, of course, larger in the international payment segment because there is the currency rate to consider as well. So both types of losses, in currency and in transfer charges, need to be kept to a minimum.

Third party ePayment systems -

These are popular but require the user to open an account, similar to a bank account. Finding the most efficient one for your size of company is also a little tricky. They come in many sizes from consumer-oriented PayPal and 2checkout.com to Orbian for large businesses. These e-Payment systems work fairly well and charge up to 5% of funds transferred.

Wire transfer -

This is the good, old fashioned method of transferring money directly from bank account to bank account. It is completed by the bank and requires the swift code of the recipient's bank and their account number. This is considered to be a safe and fairly efficient way to make international B2B payments. However, banks can charge quite a hefty amount in fees and charges. You must find out the currency rate as well, if that is a concern. Additionally one thing that is required to be kept in mind is to make absolutely certain that the company to whom the payment is being made is a legitimate and an authentic company as once the funds have left your account, they are not recoverable.

Credit cards/ corporate credit cards -

Many companies are less than willing to hand out corporate credit cards and employees will not use their personal ones for company business. So, unless you are a small business, the use of credit cards is rare in international business to business payments. It can also be fairly expensive.

Check -

Unless you have an already existing relationship with the businesses you are selling to, a check may not be the best way to receive payments from B2B sales on the internet. There are hardly any successful online businesses that are known to conduct business with this method of payment. However, this form of payment can be viable where a low transaction fee is important and the product does not have to be delivered immediately. Remember, you can never be certain of receiving the payment until the check is cleared and payment is credited to your account.

If you have an online business, be sure to check which form of payment integrates best with your business. For example, if you are selling online software, the consumer may want to make payment and download the product right away. A wire transfer may not be the best option. For subscription based or recurring payments, a platform like PayPal offers incomparable functionality. It allows you to automatically charge customers on a monthly basis and also sends you intimations of payment failures.

There are many options for receiving international payments. Your best bet would be to keep a couple of options open and decide on a case by case basis which suits you best for a particular B2B transaction.