Building a business takes great vision, a sound plan, financial investment, and time. That great product or service has potential to be an empire of sorts. It just depends on factors lining up and not giving up. Taking a piece of the American pie as an entrepreneur is a privilege that is open to anyone who has the desire to. Now expansion outside of the realm of U.S. economy is also available and with a degree of guts and ingenuity your business footprint can thrive overseas.
Having What it Takes
Now if your business is healthy even thriving then you can set your sight on far off lands not deterred by zip codes or language diversity. It takes thinking outside the box while cementing core values. There are often untapped territory and markets that are ripe for a new business. Research economies you like ones such as New Zealand or Bahrain economy are open to you. New business means new customers or clientele that bring you to the next level and yes company expansion. How about the possibility that your company is just what these new customers have been in search of. Do your research to determine the pros and cons of profitability. Look for any and all incentives that country may provide from low corporate tax rates, tax breaks, and other ideas that will support your business.
Before taking that leap of no return make sure to do the following:
- Research and be clear on regulations and legal distinctions
- Market trends in the country of interest
- Cultural influences
- Transaction options with financial safeguards
Once you have done homework it is launch time. There are great prospects to consider when opening up the business. Let’s look at least five profit possibilities.
Global Gain You Can Sustain
Where to? Where should you get your feet wet and introduced to? There are countries that welcome entrepreneurial spirit. Through recent surveys there are 5 prime countries that welcome American business. They include Switzerland, Germany, United Kingdom, and Japan, and Canada. What makes each a good fit for most businesses?
Switzerland contains a high entrepreneurial rank along with innovation and strength in education. Technology is of the utmost importance utilized to the fullest. Strong economy low unemployment has the highest gross domestic product per capita in the world. Germany is another great choice as it tops the list in the largest economy in the world as a leader in the international economy. Leading the way in export and imports with highly skilled workforce that welcomes innovation and capitalism.Germany holds a high regard for enterprise and start up mentality is supported.
United Kingdom and Japan
This power house still has maintained a level of distinction when it comes to being a central global hub through London for finances. It is also a workforce and technology base that is above the rest. When it comes to building a business here there are quite a few variables making the U.K. stand out. Freedom of enterprise as it comes to trade and monetary goals, investor protections in place along with less red tape. Labeled as a sophisticated with innovation ranked 6th in global competitiveness with market size ranked 4th in the world. Knowledge of the system of Japanese business practices including laws and regulations are a must. With a clear process in place to start outside business here there are navigational steps from presentation of the business plan to application process and certificate of completion.
Our neighbors and allies to the north are a great place to consider your business for many reasons including offering wage subsidies, and a very helpful Canadian Small Business Finance Program.
So you built your business and expansion is now in sight. With research, patience, and a great plan the limits to your success are truly up to you. Global markets are an open door to what services and products you can bring and yes they will come.