Weighing the Pros and Cons
Of course, the first step in determining the best expansion location for your business is research. You need to understand the benefits and drawbacks of the market. How will local laws affect your business? How could the area’s culture influence the lives of your employees? Are there any hurdles that you’ll need to overcome to reach your customers?
Factors like the quality of infrastructure, economic incentives and logistical accessibility must be taken into consideration. You’ll also need to think about how cultural differences, language barriers and even levels of corruption could play into doing business. Ultimately, conducting research ahead of time will help you understand how to establish your business in a new market compliantly and seamlessly, saving you time and money in the long-term.
Whether you’re in the initial stages of choosing a target market or you’ve honed in on an ideal location, Galvin International guides you through the ins and outs of a given country, from compliance laws to cultural customs. We ensure that your company’s strategy is aligned with your target market and vice versa, so that expanding business overseas is as simple as possible.
More Resources on Expansion Locations from Galvin International
January 23, 2019
What Lies Ahead for International Business in 2019
With 2019 underway, here are some of the global trends that are currently being predicted for 2019.continue to read
January 3, 2019
The WTO is Facing Calls for Reform: What Would this Mean for International Business?
The World Trade Organisation (WTO) is a multilateral, rules-based trading system that was set up in the mid-1990scontinue to read