Exporting and Growth for Small Business Research Paper - 1

Exporting and Growth for Small Business - Research Paper Example This comes as a result of increased supplies needed for the target market making the cost of production per unit decrease (Burgel & Murray, 2009). Another benefit for smaller companies venturing into the international market is that they have the potential to gain more knowledge. This is a consequence of the experience acquired in the international market making the small company operators to improve in both their domestic and foreign business. Some of the knowledge that may be gained could be on new technologies, new marketing ideas or product quality improvement (Hill, 2011). Lastly, small companies have the advantage of diversifying risks by venturing into the international business. As such, risks such as market changes that could be taking place in the domestic market become evenly distributed, and the company does become fully affected. Small companies that do not engage in either export or import venture have a lower level of sustainability. They can only survive by ensuring that they dominate their domestic market. Also, they can only survive by producing high-quality goods that outstrip similar international products. Notably, such companies can sustain themselves by specializing in market entry practices. Such practices include; increased promotion, price adjustment, product improvement, and the creation of more distribution channels. Notably, increased promotion is done through advertising the product to make more people aware of the product. Price adjustments are the change of prices to the international standardized rate (Burgel & Murray, 2009). The practice will enable the company to woo domestic market at the expense of foreign products. Product improvement occurs when certain products take more time than the expected to move on the market. As such, the company improves the outcomes by improving the qualit y or labeling the products â€Å"new and improved†. The last step for such companies to be sustainable