🌍 Factors for Entry into International Trade

1️⃣ Economic Factor
The economic environment of the target market — such as economic stability, income levels, currency exchange rates, and purchasing power — is crucial to understanding the market potential and feasibility.

2️⃣ Social and Cultural Factor
Understanding the social and cultural norms, consumer preferences, and behaviour in the target market is essential for designing products and marketing strategies that resonate with the local audience.

3️⃣ Political and Legal Factor
The political stability, regulatory environment, trade laws, tariffs, and legal restrictions in the target market can significantly impact a business’s ability to operate internationally.