Making International Trade Easier: How Importer on Record (IOR) and Exporter on Record (EOR) Services Fuel the Growth of Small and Medium Businesses (SMEs
DOI:
https://doi.org/10.37591/njsclm.v8i1.1573Abstract
In an increasingly interconnected global economy, small and medium-sized enterprises (SMEs) face significant challenges when entering international markets, from navigating complex regulatory landscapes to managing costly and time-intensive logistics. The importance of Importer of Record (IOR) and Exporter of Record (EOR) services in enabling SMEs to get over these obstacles and compete on a global scale is examined in this study. By assuming legal responsibilities, managing compliance, and handling intricate import/export procedures, Importer on Record (IOR)/Exporter on Record (EOR) services enable small and medium-sized enterprises (SMEs) to focus on core business growth without being burdened by the complexities of international trade. Through case studies and industry analysis, this paper highlights how Importer on Record (IOR)/Exporter on Record (EOR) solutions reduce risk, lower operational costs, and provide scalable support, particularly for small and medium-sized enterprises (SMEs) looking to expand into emerging markets. This strategic partnership not only facilitates smoother market entry but also helps SMEs leverage new growth opportunities in technology-driven and developing economies. The findings underscore the transformative potential of Importer on Record (IOR) / Exporter on Record (EOR) services in globalization for small and medium-sized enterprises (SMEs) globalization and driving future trade innovation.
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