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For companies at market entry stage, the most important decisions to make are about which countries to target, based on a series of criteria including access to skills and business regulation. But the impact of moving people to work in a different country should not be overlooked.
Want to know what to consider before expanding for the first time? Here are our key takeaways:
- Make sure you know all the ins and outs of a new country before entering into an international venture
- Consider all practicalities of operating in a new country
- Make yourself aware of local regulations
- Development and foreign investment agencies are there to help you understand the local business climate
- Consider working in a shared office space at the start
- Don’t underestimate the complexity of cross-border employment
- Have your in-house HR department team up with local experts in the field