A trader to be successful in one's domestic market, one does not have to know the nuances of business. One just has to apply simple economics by making available one's products or/and services to a needful market. But at the same time, if one wants to expand one's business to markets beyond one's knowledge, one has to spend time and money to obtain the right input. Therefore, it is quite imaginable that entering into international business is a challenging process.
The arrival of internet stimulated international trade by reducing the cost on communication with the existing trade networks. The traders began to use internet extensively by providing information about their products or/and services through their company websites. In addition, it allowed their existing business network to get updates on the latest supply chain. The internet services did not give instant results in 1995 to international trade, yet by 1997 it showed signs of scripting a new chapter in the annals of business. Initially, internet trade was confined to developed countries due to the common availability of the services. When internet services spread all over the world, it actually benefited the poor nations than the rich ones.
The company websites did become virtual web shops for the traders around the globe. Unfortunately, netting new clients through the web shop had to go through the same complexity which was employed in the physical one. Even though, it has been evident that internet had all the ingredients to sink the cost of global exchange of goods, it was not sure how it was going to do that. But with the emergence of Business to Business (B2B) portals, internet services were able to make a complete makeover to this end.
B2Bs provided the database of international traders along with their products or/and services. In addition, they provided prevailing market information which always was essential for any enterprises involved especially, in international trade. With the advent of globalization, market information became very critical for any trader to take decision pertaining to product sourcing, partnerships, alliances, exporting, transporting, etc. Leading B2Bs further provided separate section on international trade related topics with country specific solution. Such services have positioned B2Bs as indispensable trading tool for doing business around the world regardless of the size of one's business.
The major feature of a B2B portal is that, it helps one to search whichever products or services one is looking forward to sell or buy through "Trade leads". A Trade lead is nothing but a description of the product or service which one extends to the market with an intention of selling or buying. A Trade lead further enables one to minimize the time spend on business exploration through its product or company specific search. All the leading B2Bs have Trade leads with details about the trader who has posted it and the time when it has been done. Thus B2Bs literally help a trader to interact with businesses across the world by just sitting in one's office chamber and keying in some words of communication.
