Shopee, Lazada, Amazon and Target. These are only few of the online shops that are commonly used today. With the use of technology, we can just simply avail these products whenever and wherever we want. Products that are even coming from different sides of the world. These things that we enjoy right now are one of the effects of globalization.
Globalization is the process of interaction and integration among people, companies, and governments worldwide. It refers to the technological, political, economic, financial, and cultural exchanges between peoples and nations that have made and continue to make the world a more interconnected and independent place. Does globalization affect the local businesses? Globalization may affect both positively and negatively on local business. These are some the impacts of globalization to small businesses around the world. Globalization gives access to the global market so every customer can now easily access the products. Globalization also increases competition from around the world. Since there is an easy accessibility of the products, that means there are tons of more tendencies of having businesses that sells the same product or services. Globalization promotes remote staffing. They can now have employees working in an office on the other side of the world.
These are some of the main aspects in which globalization impacts small businesses around the world. This may seem like some major developments, but you are far more likely to weather the storm and remain above the tide if you manage your business.
References:
- https://www.unleashedsoftware.com/blog/globalization-impacts-small-businesses#:~:text=A%20positive%20aspect%20of%20increased,shipping%20routes%20(cargo%20flights)
- https://www.khanacademy.org/humanities/us-history/modern-us/1990s-america/a/globalization
- https://www.businessblogshub.com/2017/05/5-ways-how-globalization-impacts-small-businesses/
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