Doing business across borders has never been easier: we are all global citizens, we have access to improved technology daily, and our minds are open to endless possibilities. Business is no longer defined in political or geographic terms; the value of your products or services define their appeal.
Driving towards international business models:
Growth and efficiency are over there
You may face a finite market at home; expanding internationally opens you up to more growth. It can also help you gain efficiencies: creating economies of scale by spreading fixed costs, reducing capital and operating costs, and pooling purchasing power. Make sure you take heed of geographic, cultural, legal and linguistic differences as they could cause friction and end up costing you more, not less.
Customer needs are not limited by geography
Your customers are travelling the world, demanding consistent service and access wherever they are. They are talking to people across the border, learning about other cultures and wanting to sample it for themselves. Global consumerisation is growing; your goods and services can and should follow.
What’s your global expansion strategy?
Your strategy needs a formal plan for expanding reach into multiple countries – be it exporting, licensing, joint ventures, partnerships of acquisitions. Talk to experts about what best fits your immediate and long-term ambitions.
Red tape speaks all languages
Seek a global expansion advisor with an international network. It seems like common sense, but you want to make sure your strategy is being driven by people who truly know the markets you want to expand to. Ask if they have people on the ground, or whether they rely on shared service centres or a handful of offices.
Get support from a global expansion advisor:
While different tax regulations and employment laws are critical, they’re only the tip of the iceberg. You need to also consider double taxation treaties, exchange control regulations, different legal systems and structures, licenses you may need to trade locally, import and export regulations, BEPS, FATCA… the list seems endless. Talk to someone who understands what is needed.
For more information: Please contact Aidan Kearney at email@example.com