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Domestic Business VS International Business (Definition: trade which takes…
Domestic Business VS International Business
Definition: trade which takes place within the geographical boundaries of the country.
Smaller customer base
Single currency
Homogeneous customer base
Less restricitons
Free Mobility of factors of produciton
Research and easily be conducted
Less capital investment
Low quality standards
Privileges
Low transaction cost
less period between production and sale of goods
Low transportation cost
encourages small-scale enterprises : :
Definition: trade which occurs between two countries internationally (whole world).
commercial activities like sales, investment, logistics, etc
Face more difficulties and restrictions
Research is difficult to conduct, expensive and research reliability varies from country to country.
Restricted mobility of factors of production
Deals in multiple currencies
Quality standards are high
Drawback barries
Quota
law taxation
Larger customer base
Huge capital investments
Expands trade and investments
Customers are heterogeneous
Ireland VS USA
International barriers
USA face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.
Link
Easier for Ireland to enter USA market
International employing
USA employees way less employees in Ireland
Ireland employs 17,000 employees in the USA ,
Link
Transportation costs domestically
cheaper in the USA
much more expensive in Ireland
Domestic small enterprises
In the US small enterprise means 500 or less employees
Link
Domestically in Ireland a small enterprise means 50 or less employees
Link
International tax
Ireland only has 2 tax brackets
Link
where
the USA has 7 brackets
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Domestic capital investment
Ireland's capital investment domestically has increased
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they are at 24.25GDP
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USA is a lower 19.39
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