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EU Single Market and International Business

 

There are a number of factors influencing the development of international businesses and one of them is the communications development which is making it faster, easier and more effective. Another issue is the transport development which is mainly caused by technology progress. This lowers the cost of productions, cost of transportation, cost of distributions, and lots of other benefits that businesses can profit from. Operating within EU Single Market has significant benefits as it is treated as a single country not 27different states but at the same time it has drawbacks which some companies cannot support.
             a. Benefits of EU Single Market.
             Integration into EU Single Market can give access to additional labour, financial and possibly cheaper material resources. Such countries as Poland, Romania or Bulgaria, which are members of European Union provide with cheap labour as their economy is not as developed as all the rest of the members. All international companies can benefit from this cheap labour on a legal factor. Most of all can benefit the small international businesses or the one which are aiming the international market. EU Single Market stimulated competition therefore the prices lowered and many small companies established. This brought barriers of market entry much lower and now international businesses of any size can operate within European Union. A more important benefit is the technology access, as EU is the second market after US which owns innovations. Also a good example how international businesses benefited from establishment of EU Single Market is when the prices settled by national telecommunication companies dropped by 50% and prices on transport by 41%. Of course mostly people benefited from this but this also gave an opportunity for other companies to enter the market. International businesses integrate in different ways, starting from exporting into foreign market, franchising, joint ventures.


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