Scaling businesses that aim to expand into multiple new territories also need to consider barriers such as unfamiliarity with local laws, registration and filing requirements and lack of cost-effective legal advice.It's important to select the right partners that can grow with you just as quickly.
Looking into scaling up internationally? This is what you should do:
- Plan ahead – if you think you will eventually expand overseas, keep in mind optimal structures from the start to avoid costly reorganisations late
- Connect with other organisations – who have done it at a similar time in their life cycle. If you don't know any, ask your advisors to connect you
- Work with your local law firm and accountant – who know your business and can connect you with the best legal, accounting and other advisors for your particular business abroad
- Carrying out effective due diligence and market research – is essential
Want to find out how we can help you expanding abroad? Check our Effortless Expansion page and download our guide.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.