What should be taken into account when expanding abroad?

[seonajmulislam00]

Expanding abroad is becoming easier. Globalisation and e-commerce have contributed to more and more companies deciding to take on this challenge. Product demand, price and service that sets them apart from the competition are some of the reasons why a business owner decides to embark on this adventure.

If you are thinking of expanding your company abroad and want to know the main keys to making it a success, we will tell you about them today.


You may also be interested in: " What should you keep in mind when your startup is in full growth?"

Keep the location in mind
When expanding your business abroad, it is important to choose the physical location from which you want to operate. Regardless of the country or countries where you want to provide your services, you will probably need to analyze the prices of the real estate sector.

Knowing which districts or towns are the most suitable in the hong kong number data country where you want to expand will be a decisive step in adapting the location of your company to your budget. Likewise, the time zone is also relevant, since you will have to work remotely with the headquarters.

Duty
Taxes are also important. Depending on the origin and source of your sector, you may find yourself in the situation of importing or exporting a product. In this sense, it is vital to be fully informed about the tariffs or payments required for these transactions.

There are three types of tariffs. Ad Valoren is the one that applies a percentage to the total amount of the cargo. For example, if its value is 20,000 and the tariff is 15%, you will have to pay €3,000. There are also specific tariffs that are already determined in advance. And finally, there are combined tariffs, which are the combination of the two previous ones.

Banking entity
As with the previous points, it is also important to analyze the banking entities you will work with. Today there are different banks that operate all over the world. We advise you that, if yours only works in Spain, you find one that is active both here and in the country where you want to expand your business.

ING , for example, is an entity that, in addition to operating in our country, also works in other European countries such as Belgium.