The leading role in dynamic and development of globalisation of business belongs to global companies. The global companies are market leaders - companies with world- famous name and brand. The consequences are caused by the market power of global companies. At the global market there are also market-followers - companies which focus on a small segment of the market. As a result of new markets and competition from distant parts of the global market, the sector's structure of market leaders has been changed. The effects of globalisation of global companies have been defined through political, economic, social and business effects. Political effects are caused by the market power of market leaders as well as by the political power of their country of origin. Economic effects are the effects on the world economy, both the production and distribution system, as well as the competitive structure. Social effects are the effects on the world social development and development of socio-cultural dimension of global environment. Business effects are the effects on its own business affairs, partner companies' affairs and other companies' in the market leaders' business surroundings. The negative effects of globalisation have been defined through global dependence on a limited number of companies. The change of strategic orientation and competitive behavior in domestics entrepreneurship and national economy are urgent. The aim of this paper is to present the positive and negative effects of globalisation of business of global companies in order to small local businesses recognize the positive and negative effects of global business and readily await them as challenges or threats.
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