Considerations for Expanding Globally

 

online meetings, teleconference, business expenses, business loans, riskiest businesses, small business, start your own business

The following is a guest post. Enjoy! 

It is every small or medium sized business owner’s dream – expanding business globally and capturing even more sales in a given market.  However, expanding globally is not as easy as it sounds, and it can be risky, especially for the first-time small business.  There are a lot of things to consider when expanding abroad, and here are a few simple things to keep in mind.

Transportation

The first thing you need to take into consideration is the transportation costs involved with expanding globally.  Having a work force around the globe can be great for productivity, but it can be a major expense if you need to fly to various destinations to meet with people.  Keep in mind the logistics and transportation issues involved with expanding abroad.

Meetings

The next big challenge will be facilitating meetings with employees abroad.
While there is now technology that can assist, you still have to pay to put that infrastructure in place, and it can be expensive.  An alternative is to rent this equipment, but if you are using it frequently, you may as well purchase it.
Finally, you could always keep it basic and use the phone or free programs like Skype, but these programs aren’t always reliable or conducive to business.  However, they can help with the day to day work.

Trade

Finally, you do need to worry about international trade and how you will get products from the United States and overseas.  There are many laws and requirements for shipping goods, and you will probably need to do a lot of research or hire a specialty-consulting firm to get you started.  This can be very expensive, but you don’t want to risk it.  You will have to weigh the risks and benefits of becoming a global business.

How about you all? What other things do companies that are just starting to expanding their realm of operations abroad need to plan for?

Share your experiences by commenting below!

***Photo courtesy of http://www.flickr.com/photos/bdointernational/5120341421/sizes/l/in/photostream/

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