Technology has elevated to greater heights with the advent of online business transactions. The use of business directory to promote import and export is one of the major breakthroughs in the field of business. There are a number of benefits of using these online directories. There has been a substantial growth of both import and export in the country due to the use of these directories.
Effects of Business Directory on Import Export Business
The advent of internet technology has led to the growth of business directory. Today most of the people choose to buy and sell through online web portals. Such transactions help to save time and money. There are many advantages of using online directories and it has an immense effect on the import-export business of the country. Some of the effects on the import export business include:
- Better business opportunities: with the use of business directory, suppliers, manufacturers, buyers, sellers, importers and exporters of different countries come together on a single platform simultaneously which increases business opportunities. Better and faster communication and transactions can take place through such directories.
- Wider exposure: the Small and Medium Enterprises have benefited immensely with the use of these directories as it is the cheapest and fastest way of advertising products and services. Unlike the large business enterprises, the small and medium enterprises find it difficult to obtain required exposure for their products and services.
- Better opportunities in the international markets: through the business directory, import and export has increased as there are greater opportunities being exposed to the global markets. Both importers and exporters are able to conduct business transactions easily and quickly. Even small exporters can post their product advertisements in a cost effective manner. Some directories offer opportunities to companies for free posting of ads.
- Use of product catalogs: companies can update their product catalogs, which display the launch of latest products and their specifications, through a business directory.
- Use of online forms: unlike the traditional methods of inquiry which requires time, with the use of such directories interested buyers can post their inquiries online which is faster and easier.
- Trade leads: trade leads can be obtained through a business directory which further accelerates the speed of business both nationally and internationally.
- Business relations: long term business relations can be built with the use of online directories. Traders from different parts of the world join together for business transactions simultaneously.
Undoubtedly, the online directories have aided in boosting the import and export of the country in many ways. Today India is able to face competition in the international markets. Indian exporters have found this global platform beneficial for their overall growth.
In countries like India the introduction of liberalization policies by the government coupled with the use of online directories has massively impacted the demand of Indian goods in the international markets. Indian importers have also benefited with the introduction of the online b2b directories.
In short, online directories have a major role to play in augmenting the import and export business of a country.