Post by Trade facilitator on Jun 20, 2011 18:52:14 GMT 1
Some years ago, a mere mention of globalisation connoted something of a big company crossing international borders. However, the preponderance of various Chinese products, ranging from household utensils to play objects like toys, among other consumables in Nigeria today, has proved that globalisation has enough room for big and small firms.
Small businesses are rapidly embracing the world, making globalisation a common reality. Rather than complain of suffocation on the local scene, where chances for growth keep receding, branching out globally offers a wealth of opportunity, including rapid expansion.
Ironically, globalisation has indeed made the business environment a competitive arena, and as a result, people have continued to appreciate and accept products and services that meet global standards from other countries.
For small businesses that want to really grow and enjoy good patronage, experts say they have to strive to match competition, especially from their foreign counterparts.
The quest by the Nigerian government to encourage consumption of locally-made products is, to a large extent, dependent on the content of what local firms are able to offer. Therefore, failure to address this anomaly may continue to frustrate government’s efforts.
Are you thinking that taking your small business to the global scene is a mission impossible? You may have to think it over again. The reason, according to business growth experts, is that communications advances are making globalisation a reality, and it is the small business owners of the world that are busting borders and realising greater growth potential.
The immediate past Minister of State for Commerce and Industry, Ms. Josephine Tapgun, states much of the Federal Government of Nigeria’s efforts to improve the trading environment at a recent workshop on trade liberalisation.
She says, “Nigeria, like many developing countries, has decided to review virtually all policies that constitute barriers to global trading, including non-tariff barriers. Most importantly, the government is already addressing most of the identified challenges, particularly, the simplification of cumbersome border processes, reducing multiple checkpoints to a maximum of three and upgrading infrastructure, such as roads.”
Tapgun explains that the national trade and fiscal policies are being reviewed on products that will benefit businesses. Besides, she says a task force on trade facilitation has been inaugurated by the ministry to remove all known trade barriers along Nigeria’s border corridors.
According to her, the present administration recognises the need to ensure competitiveness of the nation’s local products at the global market and efficient allocation of resources.
She notes that the government has devoted special attention in the Vision 2020 to non-oil international trade, and in particular, the promotion of economic integration and cooperation, especially among small businesses.
She, however, says Nigeria, being the largest and most industrialised in the West African sub-region, has the greatest opportunity to benefit mostly by being more competitive in the global world.
Tapgun also envisages the participation of businesses in the just implemented ECOWAS Trade Liberalisation Scheme by the government. She says this will also stimulate global development of businesses, increase the market share, develop new markets for manufactured goods and create wealth, among others.
According to the President, Lagos Chamber of Commerce and Industry, Chief Femi Deru, Global competitiveness is a major factor in achieving efficiency, which is dependent on market size and the ability to enjoy economies of scale.
He says small businesses will enjoy benefits of economies of scale in the event of full market integration, as “this will reduce unit costs and enhance their global competitiveness.”
Deru notes that businesses can meet global standards with the partnership and cooperation of the various private sector entities. “The greater advocacy by businesses to promote economic integration is key to globalisation,” he says.
He adds that the government also needs to give active promotion and investment in global tourism to give citizens better exposure to the opportunities in the global world. He, therefore, advocates closeness of firms or organisations to private sector organisations, such as chambers of commerce, business associations and professional bodies.
He adds, “Development of capital markets in the sub-region and the creation of awareness to encourage investment across borders, including the creation of regional business associations as well as an African Chamber of Commerce and Industry.”
Deru also identifies development and promotion of sub-regional financial institutions as one of the measures to improve global competitiveness among businesses within the ECOWAS sub-region.
Emphasising the role of standards in the penetration of foreign countries by local firms, a finance consultant, Mr. Olu Adesina, says, “At the most basic level, standards are simply the application of tried-and-tested best practices. Standards focus on the products or services delivered, the business processes followed and the way a business is managed as a whole.”
According to him, small businesses should ensure that they adhere to the most implemented standards to provide assurance about their ability to satisfy quality requirements and enhance customer satisfaction in supplier-customer relationships.
Adesina, therefore, says for small businesses to have some competitive edge and improve their eligibility for bids in key market sectors in the global arena, there is the need to realise that they must also drive efficiency and consistency in their products and services.
Source: www.punchng.com/Articl.aspx?theartic=Art201106201403640
Learn more about international trade @ THE THY GLOBAL INVESTMENT LIMITED exportfromnigeria.proboards.com/index.cgi?board=general&action=display&thread=78
Small businesses are rapidly embracing the world, making globalisation a common reality. Rather than complain of suffocation on the local scene, where chances for growth keep receding, branching out globally offers a wealth of opportunity, including rapid expansion.
Ironically, globalisation has indeed made the business environment a competitive arena, and as a result, people have continued to appreciate and accept products and services that meet global standards from other countries.
For small businesses that want to really grow and enjoy good patronage, experts say they have to strive to match competition, especially from their foreign counterparts.
The quest by the Nigerian government to encourage consumption of locally-made products is, to a large extent, dependent on the content of what local firms are able to offer. Therefore, failure to address this anomaly may continue to frustrate government’s efforts.
Are you thinking that taking your small business to the global scene is a mission impossible? You may have to think it over again. The reason, according to business growth experts, is that communications advances are making globalisation a reality, and it is the small business owners of the world that are busting borders and realising greater growth potential.
The immediate past Minister of State for Commerce and Industry, Ms. Josephine Tapgun, states much of the Federal Government of Nigeria’s efforts to improve the trading environment at a recent workshop on trade liberalisation.
She says, “Nigeria, like many developing countries, has decided to review virtually all policies that constitute barriers to global trading, including non-tariff barriers. Most importantly, the government is already addressing most of the identified challenges, particularly, the simplification of cumbersome border processes, reducing multiple checkpoints to a maximum of three and upgrading infrastructure, such as roads.”
Tapgun explains that the national trade and fiscal policies are being reviewed on products that will benefit businesses. Besides, she says a task force on trade facilitation has been inaugurated by the ministry to remove all known trade barriers along Nigeria’s border corridors.
According to her, the present administration recognises the need to ensure competitiveness of the nation’s local products at the global market and efficient allocation of resources.
She notes that the government has devoted special attention in the Vision 2020 to non-oil international trade, and in particular, the promotion of economic integration and cooperation, especially among small businesses.
She, however, says Nigeria, being the largest and most industrialised in the West African sub-region, has the greatest opportunity to benefit mostly by being more competitive in the global world.
Tapgun also envisages the participation of businesses in the just implemented ECOWAS Trade Liberalisation Scheme by the government. She says this will also stimulate global development of businesses, increase the market share, develop new markets for manufactured goods and create wealth, among others.
According to the President, Lagos Chamber of Commerce and Industry, Chief Femi Deru, Global competitiveness is a major factor in achieving efficiency, which is dependent on market size and the ability to enjoy economies of scale.
He says small businesses will enjoy benefits of economies of scale in the event of full market integration, as “this will reduce unit costs and enhance their global competitiveness.”
Deru notes that businesses can meet global standards with the partnership and cooperation of the various private sector entities. “The greater advocacy by businesses to promote economic integration is key to globalisation,” he says.
He adds that the government also needs to give active promotion and investment in global tourism to give citizens better exposure to the opportunities in the global world. He, therefore, advocates closeness of firms or organisations to private sector organisations, such as chambers of commerce, business associations and professional bodies.
He adds, “Development of capital markets in the sub-region and the creation of awareness to encourage investment across borders, including the creation of regional business associations as well as an African Chamber of Commerce and Industry.”
Deru also identifies development and promotion of sub-regional financial institutions as one of the measures to improve global competitiveness among businesses within the ECOWAS sub-region.
Emphasising the role of standards in the penetration of foreign countries by local firms, a finance consultant, Mr. Olu Adesina, says, “At the most basic level, standards are simply the application of tried-and-tested best practices. Standards focus on the products or services delivered, the business processes followed and the way a business is managed as a whole.”
According to him, small businesses should ensure that they adhere to the most implemented standards to provide assurance about their ability to satisfy quality requirements and enhance customer satisfaction in supplier-customer relationships.
Adesina, therefore, says for small businesses to have some competitive edge and improve their eligibility for bids in key market sectors in the global arena, there is the need to realise that they must also drive efficiency and consistency in their products and services.
Source: www.punchng.com/Articl.aspx?theartic=Art201106201403640
Learn more about international trade @ THE THY GLOBAL INVESTMENT LIMITED exportfromnigeria.proboards.com/index.cgi?board=general&action=display&thread=78
