Posts Tagged "international business"

Counting Cents – Even Small Fees Add Up

Posted by on Sep 11, 2013 in Blog

Counting Cents – Even Small Fees Add Up

While many may assume that operating a small to medium sized business means that you will mainly be dealing with local and regional customers and suppliers, the ease of buying and selling on the Internet means that this is no longer the case. In order to survive a highly competitive marketplace and challenging economic times, businesses of all sizes are increasingly looking to foreign markets all across the globe for supplies and finished products. Consumers, too, are frequently turning to businesses all over the world for unique, well-made handcrafted goods such as jewellery, and purchasing from them directly through the Internet. Companies such as Paypal, Etsy, Western Union, and even traditional banking institutions, are all making it easier to conduct business on an international scale by providing simple, convenient ways to make and receive payments in a wide variety of currencies, as well as providing instant currency exchange services for a small fee. Negative Impacts of Currency Fluctuations and Currency Conversion While the fees are often small, usually cents per dollar on a transaction, the fee to make conversions between currencies, as well as fluctuations in the actual rate of exchange between currencies, all add up to an increase...

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