Think you know about international trade? Think again. With “What You Need to Know to Go Global: A Guide to International Trade Transactions”, attorney and international trade expert Stephen Creskoff provides an in-depth look at the factors surrounding just one transaction in international trade. Using his book, small business owners can use that information to power a successful and sustainable international enterprise.
Technology has not only changed the way how businesses do businesses. It has also changed where they do business. When you mention “international” or “global” business, most of us immediately think of large, multinational companies like Walmart, Google, Microsoft, or Apple. What You Need to Know to Go Global: A Guide to International Trade Transactions chooses a different track. This book chooses to focus the spotlight on small and medium-sized businesses that have already extended (or plan to extend) their business beyond the boundaries of the United States.
What is What You Need to Know to Go Global About?
The ease at which small businesses can dive into international business has never been easier. In some cases, all it takes is an Internet connection, a product or service, and the right payment provider (like PayPal or Mastercard), but there is always more than meets the eye. There are a plethora of issues involved in completing one trade transaction including:
- How will the product get there?
- Who will store and safeguard the product when it gets there?
- Do I have to pay a national sales tax or other taxes for establishing a business in this country?
- How and when do I get paid?
These questions aren’t answered so easily. In many cases, because of the work already completed by businesses that facilitate international businesses, you won’t see all of the work that goes into a transaction. You, as the business owner or customer, won’t see that the teddy bear that you want to see in Mexico or China involved a lot of collaboration between a lot of people. All you will see is a price and the product.
What You Need to Know to Go Global pulls back the curtain on the world of international trade for those who are interested or who actually plan to establish a business and need help getting started. It drills down to the transaction level, covering a wide range of issues that can affect that transaction, from security to social responsibility, and transparency. After going through this 400+ page, readers should have a confident view of:
- Agencies that can help establish your international business,
- Regulatory issues and policies that might affect the sale of your product or service,
- Basic taxation, tariff, and customs laws of which you may be unaware.
Author Stephen Creskoff is an attorney, expert in international trade, and speaker with extensive experience in international trade. Currently, he is a Principal and Partner at Creskoff & Doram, LLP, providing specialized expertise in World Trade Organization law and customs. Creskoff has worked with the World Bank along with other organizations in 50 other countries.
What Was Best About What You Need to Know to Go Global?
What You Need to Go Global is a book that goes beyond the basic “how to start an international business” book. It is specifically designed to address the concerns of any business owner who doesn’t have access to an international team of experts While the book certainly can address every single question or issue, it goes a long way in giving readers a broad overview of buying and selling globally. International trade is often not an issue discussed with small and medium-sized businesses so this is definitely so this book attempts to fill that gap.
What Could Have Been Done Differently?
One thing most readers (especially lay readers) will immediately see is the book’s breadth. Stephen Creskoff is a lawyer and definitely displays this in the content. In some aspects, this is good because it provides readers access to the mind of an expert. In other aspects, it can be a little overwhelming for small business owners who just want a quick answer to an issue concerning international trade. A shorter more user-friendly guide could help in that regard.
Why Read What You Need to Know to Go Global?
As mentioned above and also by the author in the book, What You Need to Go Global was written to help small and medium-sized business owners understand the implications, options, and consequences of their actions whether they are selling (or receiving) products or services. The book helps readers understand the huge amount of work that goes into establishing and maintaining international trade but also a glimmer of hope. With the right resources and a basic understanding of how international trade works (some of that understanding comes from this book), you can run a successful and profitable international business.