International business refers to ” the buying, selling, and trading of goods and services across national boundaries.” A large number of firms, big, or small, undertake business on an international basis, The small business operator need not have a negative attitude towards international business. With the modern facilities available to him,he must find ways to profit from the various opportunities available. These days, buying from or selling to another country may not be even require a face-to-face contact between the concerned parties. Modern technology has eliminated that requirement. A cellular phone, for instance, allows a producer of fruits in a remote area of the Philippines to directly speak with his buyer from another country.
The importance of international business is emphasized by the numerous trading activities undertaken throughout world since the founding of the great civilizations. If international business was not profitable, the Babylonians of the Tigris and Euphrates Valley would not have engaged in it 5,000 years ago. In the Philippines,traders from foreign lands like China and other countries brought goods of various kinds even before the Spaniards came.