Q:
What is a domestic business?
A:
Quick Answer
A domestic business is a company that operates only within the borders of a single country. A domestic U.S. company is the opposite of a global company that does business in many countries. Domestic businesses only have to worry about domestic business operations, record-keeping and tax obligations.
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Full Answer
Many large domestic companies look to growing by expanding operations to foreign countries. While globalization does have drawbacks, it does give a once-domestic company access to a larger pool of potential customers. Going from domestic operation to global operation does require a company to have strong communication systems, efficient distribution and a global strategy.
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