FedEx: Micro-multinationals, and how they will define our era
As a small business, going global may seem like a daunting prospect. In fact the UK is one of the leading countries of micro-multinationals: small, self-starting companies with operations in various international locations.
By operating in this way, numerous small businesses are spreading out production to create products at a lower cost. Manufacturing products across different borders or having different components of the business based overseas, these companies are small yet wield international influence.
Historically micro-multinationals operated in niche sectors, including engineering and technology. However the concept is now spreading to other industries and is becoming a more established feature in the UK. These businesses demonstrate real dynamism by reducing their costs, staking their international presence and going against the traditional business structure.
What is a micro-multinational?
Identifying as a global company is no longer the prestige of well-established large corporations. Being international is now the playing ground of a growing number of small business owners. In fact, micro-multinationals share similar characteristics with multinational corporations. Many source producers and suppliers overseas in order to keep costs down, and use a range of technologies to stay connected. By doing so, these businesses are forging strong relationships with their target consumers.
All these businesses need is a computer, a strong shipping network and a big idea. Even the smallest UK business has access to communications and innovations that were beyond the reach of companies just 15 years ago. By combining virtual networks (high-speed internet, mobile communication and other digital technologies) with physical networks (transportation systems and logistics platforms), micro-multinationals have the potential to shake-up industries virtually overnight. These businesses may come to define our era as large multinational corporations defined global business in the late 20th century.
The benefits of being a micro-multinational business
Micro-multinationals are a critical part of the global economy. They enjoy the same advantages as other small-to-medium-sized enterprises (SMEs), the agility to respond quickly to market changes, a collaborative DNA that fosters innovation, and the absence of the institutional inertia that often afflicts larger organisations.
That said there is a distinction to be drawn between micro-multinationals and SMEs generally. Micro-multinationals enjoy advantages unavailable to SMEs operating in a single market. These include the ability to exploit global variations in knowledge, skills and labour costs. They can operate their businesses around the world and around the clock across multiple time-zones.
While micro-multinationals have all the traditional benefits of being small and nimble, they have additional benefits of operating and marketing their products and services in multiple global markets.
All-in-all micro-multinationals have an added competitive edge. They have the knowledge and understanding of conducting business overseas, allowing them to easily enter emerging markets and adapt to cultures and consumer habits.
How micro-multinationals are changing the traditional business landscape
At FedEx, we believe that micro-multinationals will change the face of global business across industrial sectors and geographical boundaries. This is an area SMEs should consider venturing into. There has been a recent movement and increase in micro-multinationals, resulting in small businesses spanning the globe and benefiting from cross-border trade. The logistics industry has a key role to play in this, providing not only rapid and reliable logistics, but also deep expertise in trade regulations and supply chain management.
Small companies can now think big. They have an increased opportunity to break down barriers to entry and follow this rising trend. By creating a seamless international value chain SMEs really can see the bigger picture. Global reach needn’t be perceived as a large companies’ playground – it is feasible for SMEs too.
By Martin Davidian, Managing Director Sales UK North and Ireland, FedEx Express
The Ultimate Procurement & Supply Chain Event
From September 28th-30th, network with C-level executives, gain insight from industry pioneers and walk away with actionable insights that accelerate your career. By the end of the week, we promise you’ll have the skills to solve the world’s most pressing supply chain and procurement challenges.
The three-day show is an essential deep dive into the industry, with influential speakers sharing insights and strategies from their organisations, group roundtable discussions, and fireside chats. Whether you attend virtually or in person, you’ll strategise how to cope with global disruption, learn from industry leaders, and walk away with tips, tactics, and tangible connections.
How to Attend
In a COVID-disrupted era, we know that the majority of people would rather avoid travelling for events─why take the risk, right? In response to the continued disruption, BizClik Media Group has decided that Procurement & Supply Chain LIVE will offer the best of both worlds through hybrid accessibility.
That means you and your peers can attend the event in person or virtually ─ with no disadvantages for people who choose not to make the trip to the Tobacco Dock venue.
Procurement & Supply Chain LIVE will be held at the Tobacco Dock in London, an industry-leading venue that is renowned for delivering world-class events. For attendees’ peace of mind, the venue is working to the government-endorsed AEV All Secure Framework, alongside mia’s AIM Secure and ‘Good to Go’ accreditation, they will ensure that we achieve a COVID-secure environment to facilitate all of your networking needs.
Our physical venue is both historic and stunning, but it has no bearing on the information that you and your peers can gain from the event. You can still absorb it all, interact with other attendees, and enjoy the conference experience on your alternative, virtual platform.
The platform will feature live feeds from all of the stages, as well as virtual networking areas. So, if you want to avoid travel, it’s not a problem! You can still get involved and enjoy the entire experience from the comfort of your own home.
What’s on the agenda?
With keynote addresses from global leaders, dynamic roundtable discussions, and extensive networking opportunities, Procurement & Supply Chain 2021 will expand your network, deliver insight, and enhance your organisation’s reach.
Across the three-day event, a number of relevant topics and trends surrounding procurement and supply chain will be discussed.
- Tuesday 28 September - Digital supply chain
- Procurement strategy (11:30 am)
- Supply chain leaders forum (12:00 pm)
- Women in supply chain (14:00 pm)
- Procurement technology (14:30 pm)
- Wednesday 29 September - Procurement consulting
- Sustainability (11:30 am)
- Supply chain management (12:00 pm)
- Digitalisation (14:00 pm)
- Risk & Resilience (14:30 pm)
- Thursday 30 September - APAC sessions (04:00 am)
Influential executives from around the world will give their insights and professional experiences surrounding these topics, allowing you and your company to leave with valuable information.
The past year has shown how important supply chains are and the importance of managing them correctly. With increasing digitalisation across all industries, you won’t want to miss out on our great speakers and information surrounding this topic. Preparing your company for the future is key, and we are sure you will gain great insights at our three-day event.
Order now to make the most of our early-bird offer. Ticket prices increase over 50% soon! For tickets and information, head over to our event site.