How To Do Business Abroad

Thanks to the advances in digitalisation and technology it’s easier than ever to do business internationally. That said, the nuances of each market may differ, so you'll need to arm yourself with the right information to succeed. Here’s a checklist to get you started with your business plan for growing your business in a foreign market.

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        Doing Business Abroad Checklist

        Consider the following when expanding a business overseas in both established and emerging markets.

        • Legality. Is the contract binding in that country? Where will legal proceedings be handled in the event of a dispute?
        • Social norms. Research the general opinions expressed by the public on meetings, punctuality and dressing.
        • Business analysis. Do target market research to determine if the business operation is feasible.
        • Business protection. How long does it take to start a business? How do you protect your intellectual property?
        • Regulations. Comply with tax rules, export and employment laws when setting up your business operation or exporting.
        • Foreign exchange. What’s the currency exchange rate? Figure out how you are going to manage risks and find a safe and efficient way to send and receive funds abroad.

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