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Small Businesses Thriving in a Global Market

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In the past, global trade was mainly dominated by large corporations. Small and medium-sized enterprises (SMEs) often struggled to reach international customers due to limited resources and high shipping costs. However, the rise of digital technology has significantly changed this . Today, even a small local shop can sell its products to people on the other side of the world through e-commerce platforms. To succeed globally, many SMEs are now adopting a strategy called ' marketing.' Instead of competing with big companies on price, they focus on offering unique, high-quality products that are difficult to find elsewhere. For example, a small craft store in Japan can successfully sell traditional handmade goods to international buyers who value . By using social media to tell their brand's story, these businesses can connect with specific audiences who are genuinely interested in their craft. However, expanding globally still presents challenges. Language barriers and different cultural preferences remain significant hurdles. To overcome these, successful SMEs often partner with local distributors or use translation tools to improve communication. Furthermore, they must stay flexible and be willing to their products to meet the needs of foreign markets. Ultimately, the key to success in a globalized economy is not how big a company is, but how well it understands and serves its unique customers across borders.

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According to the passage, why do some SMEs use social media?

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What does the word 'these' refer to in the third paragraph?

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