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Things to consider before expanding business globally

  • Every employee should be part of an international team in order to have company-wide commitment
  • An international business plan is important in order to define your company's present status and internal goals and commitment. Define it
  • Determine how much you can afford to invest in your international expansion efforts.
  • It takes time and patience to build a great, enduring global enterprise, so be patient
  • Build the website and plan it according to your international criteria
  • Decide which product or service to expand globally
  • Conduct market research to identify your prime target markets.
  • Analyse the information in order to predict how your product will sell in a specific geographic location
  • Hire a good lawyer, a savvy banker, a knowledgeable accountant and a seasoned transport specialist, each of whom specializes in international transactions
  • Set up terms, conditions and other financing options.
  • Brush up on your documentation and export licensing procedures.
  • For detailed information, refer this link

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