How small businesses are challenging the status quo of international expansion
Speaking with Ross Greenwood on the Origins Australia podcast series, owner of Australian swimwear company Budgy Smuggler, Adam Linforth, explains how an idea that started as a ‘bit of a laugh in the backyard’ became an international smash and shows the future of international expansion is no longer limited to the big players.
Homemade businessesWhat about those who don’t have an established business, or those just looking to make a side hustle selling products online? The ability to communicate with people around the world through the technology at our fingertips means there’s a greater understanding that a marketplace can be found anywhere - every person has the potential to be a customer. Which means the proliferation of the one-man international business - also known as an online seller.
Online sellers who use marketplaces like Amazon and eBay to sell products, whether full time or as a side hustle, are a key example of how selling internationally is no longer something for the big players with big budgets.
The great part about running an online business is the tools that specialist payment services can offer. OFX can offer small businesses, and online sellers in particular, tools like the Global Currency Account and risk management strategies like Forward Contracts and Limit Orders. This can help put small businesses on the global marketplace by staying ahead of the competition and managing payables and receivables with ease.