Doing business across borders comes with a variety of new challenges for any business. Factors such as recruiting and retaining senior executive talent overseas, navigating the complexity of different tax and regulatory jurisdictions, and how to secure the necessary finance, particularly if new markets perceived as risky.
For some businesses, expanding overseas or into additional territories will bring with it a new focus on logistics and the need to think differently about supply chains, with decisions required on whether to locate manufacturing in one hub or spread across locations, both domestic and international. For others, access to talent or IP in locations will drive decisions.
When your business looks to other markets to enhance growth prospects and deliver future sustainability, what region, country or market entry point will suit your business and provide the greatest chance of success?
In the simplest sense, there are decisions to make early on that will shape how you expand overseas. Understanding the regions, countries and cities best-suited to your businesses’ expansion is vital. As is understanding how to establish your footprint in that market. That’s where Grant Thornton member firm’s local understanding of how to do business across the globe, can help you succeed.
These guides boast the most compelling mix of geographic, economic and cultural qualities. These may not be in the front of your mind, but they act as springboards for businesses hoping to access markets or industries all over the world.
With the global economy showing positive recovery, the right support can enable you to confidently access international markets.