Expanding Abroad containing 12 chapters.
Chapter 9 of 12.
Expanding Abroad containing 12 chapters.
Chapter 9 of 12.
Expanding Abroad containing 12 chapters.
Chapter 9 of 12.
Expanding Abroad containing 12 chapters.
Chapter 9 of 12.
For a business that may have never traded abroad before, it is all too easy to get excited about your first foreign sale, but this can lead to mistakes being made. This can be as simple as starting to trade without truly understanding the market, its regulations, its customs and culture. Here are just some of the mistakes and pitfalls that companies fall into when expanding overseas:
Not planning strategically.
Not doing sufficient research.
Financial implications not being fully understood.
Legal, regulatory and intellectual property issues.
Underestimating the challenges that physical distance can bring.
Lack of understanding and management of risk.
Language and cultural barriers.
Getting logistics wrong i.e. transport, duties, customs clearances.
Expanding into too many markets all at once.
Not getting paid.
Not seeking help and advice from experts.
Not understanding local customs and culture.
Lack of communication and management.
Being too rigid in their approach and not adapting.
Overlooking accounting and international tax regulations.
Not utilising local experts and workforce.
For a business that may have never traded abroad before, it is all too easy to get excited about your first foreign sale, but this can lead to mistakes being made. This can be as simple as starting to trade without truly understanding the market, its regulations, its customs and culture. Here are just some of the mistakes and pitfalls that companies fall into when expanding overseas:
Not planning strategically.
Not doing sufficient research.
Financial implications not being fully understood.
Legal, regulatory and intellectual property issues.
Underestimating the challenges that physical distance can bring.
Lack of understanding and management of risk.
Language and cultural barriers.
Getting logistics wrong i.e. transport, duties, customs clearances.
Expanding into too many markets all at once.
Not getting paid.
Not seeking help and advice from experts.
Not understanding local customs and culture.
Lack of communication and management.
Being too rigid in their approach and not adapting.
Overlooking accounting and international tax regulations.
Not utilising local experts and workforce.
For a business that may have never traded abroad before, it is all too easy to get excited about your first foreign sale, but this can lead to mistakes being made. This can be as simple as starting to trade without truly understanding the market, its regulations, its customs and culture. Here are just some of the mistakes and pitfalls that companies fall into when expanding overseas:
Not planning strategically.
Not doing sufficient research.
Financial implications not being fully understood.
Legal, regulatory and intellectual property issues.
Underestimating the challenges that physical distance can bring.
Lack of understanding and management of risk.
Language and cultural barriers.
Getting logistics wrong i.e. transport, duties, customs clearances.
Expanding into too many markets all at once.
Not getting paid.
Not seeking help and advice from experts.
Not understanding local customs and culture.
Lack of communication and management.
Being too rigid in their approach and not adapting.
Overlooking accounting and international tax regulations.
Not utilising local experts and workforce.
For a business that may have never traded abroad before, it is all too easy to get excited about your first foreign sale, but this can lead to mistakes being made. This can be as simple as starting to trade without truly understanding the market, its regulations, its customs and culture. Here are just some of the mistakes and pitfalls that companies fall into when expanding overseas:
Not planning strategically.
Not doing sufficient research.
Financial implications not being fully understood.
Legal, regulatory and intellectual property issues.
Underestimating the challenges that physical distance can bring.
Lack of understanding and management of risk.
Language and cultural barriers.
Getting logistics wrong i.e. transport, duties, customs clearances.
Expanding into too many markets all at once.
Not getting paid.
Not seeking help and advice from experts.
Not understanding local customs and culture.
Lack of communication and management.
Being too rigid in their approach and not adapting.
Overlooking accounting and international tax regulations.
Not utilising local experts and workforce.