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Benefits of a Global Reach

Thu, 11/07/2013 - 9:20am | by jennaleesmith1

The business landscape of the 21st century is dramatically different from what it has been in the past. One of the chief drivers for this change has been the improved technology that now knits the world together. Prior to the advent of the internet, only the large corporations enjoyed a global reach. With the proliferation of the internet and related technologies, not only is it possible to start and operate a successful business purely online, every business can now become a global organization. 

This globalization offers some unique and significant benefits for small businesses.

Customers

Gone are the days when small businesses were chiefly confined to their local area to attract customers and generate profits. In today’s global business world, each and every person with access to the internet on their computer, tablet, or smartphone is a potential customer.

To take advantage of this, many small businesses are expending larger amounts of time, effort and money to establish and maintain their online exposure. From company websites to social media interaction, companies are able to creatively, effectively and inexpensively reach many more potential customers resulting in greater revenue and higher profits for the business.

Talent Acquisition

Just as it is easier to attract and do business with a larger group of customers, businesses can also benefit from the ability to attract and collaborate with talent from all over the world. Not only does this provide the opportunity to find greater talent than what’s available in your local area but it also provides the added benefit of cost savings.

It’s now common for businesses to find, hire, and work with employees, contractors and freelancers from all over the world at a fraction of the cost of traditional in-house talent. Proof of this trend can be found by the multitude of websites and services now available to connect businesses with employees and service providers around the world.

Payment Processing

The globalization of business could not have advanced as far as it has without significant improvements to payment processing. In order to properly service their international customers, pay their widespread employees and contractors, and purchase necessary materials and supplies, businesses required a faster, safer, more efficient method of making financial transactions.

As a result, many businesses turn to companies that specialize in making wire transfers and have built a global network of locations. An example of this is Ria Money Transfer online, which operates more than 200,000 locations across 135 countries. Whether it’s paying employees, freelancers, and suppliers or receiving customer payments, online payment processing providers offer small businesses the flexibility, convenience and security to quickly and easily meet their financial needs and remain competitive.

As technology continues to develop and evolve there will be more flexibility in how we are able to conduct business, which will increase productivity, profits, and customer service while reducing costs, time, and effort.

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