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Tips On Establishing Business Overseas |
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Written by Webmaster
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Sunday, 19 October 2008 |
By Amit Kheterpal
 As a businessman or an entrepreneur people are always on the lookout for opportunities to maximize their return on money as well create more business opportunities.
In the current world there has been sea change in the way we do business and where we conduct business.
International is the name of the game. Look at any Fortune 500 company and almost half of their revenue comes from the international operations. The reasons these companies went outside the US to do business is that they found the US markets saturated.
There are emerging economies in the world where the growth rates are more in the area of 10- 12 % as opposed to the US where the growth rates are 1-2%.This provides ample opportunity and incentive for companies to move in to these countries.
As a small business also you can do business with these countries. You have various options like the forming a joint venture with the company in the country in which you wish to do business or you can actually set up your own subsidiary.
This international move
can give you distinct advantages over your competitors. You will have access to a market which is growing at a faster clip and also you will have access to low cost labor for getting things done. You can leverage that to keep costs lower in your home country.
That said usually it is not easy to do business in these countries. Most of these countries have bureaucracy and red tape in every sphere of the life.. Then there is corruption at all levels and which can actually make you very frustrated. If you are able the initial years then you will come out stronger and smarter about how to do business with these countries.
The factor is bout managing these businesses from US. You will have to take a great leap of faith should you wish to manage the business from a far away location. In general you will be find competent managers who will be able to manage in these countries while you are in the US. The factor to consider though small is the long haul flights you need to take every now and then to these countries. These flights can actually be in the range 18 - 20 hours flight each side.
Even with all the attendant problems if companies are doing business internationally that means there is money to be made for sure there and leave an international footprint.
The author write about the need of some translated business cards to do business internationally. He talks of special business card translation concepts on his website.
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Last Updated ( Sunday, 19 October 2008 )
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