This post has been updat and republish with new information.
Many startups and SMBs expand into new markets, particularly foreign markets, out of necessity, for competitive reasons or market opportunities (foreign customers interest in buying their products).
Because of this most companies
choose their expansion location bas on a broader business strategy, which should include the comparison of FDI incentives available. Optimally, you’ll want to take FDI incentives into consideration before deciding where to do business. This article will explain how to include FDI incentive considerations in your international expansion plans. To learn about FDI and how you can benefit from the incentives available, please read the first article in this series, Foreign Direct Investment For Fast-Growing Startups and SMBs.
Put together a dicat expansion team:
As soon as you start to explore the idea of expanding into a foreign market, no matter the reason why, you should put together an expansion team. This does not ne to be a huge team, the team can include members who have other roles within the company, i.e., you don’t ne to hire new e iraq telegram data mployees to fill this team, and the team should certainly work with the entire company.
It’s best if you include
Eeople from different roles, such as finance, product, sales, marketing, HR, operations, legal, and a senior ‘lead’ that has the at the communication of selling points of support of the executive team. Having a team that is specifically task with expansion planning will help to ensure your company by lists hits the ground running.
At Globig, we have some great resources on how to build an Expansion Plan and the aspects of global expansion to consider before you jump in. You can watch a video on Lean International Expansion here in our Globig YouTube channel and read more here on our Globig blog about the Lean International Expansion Framework.