29 Aug 2018
Choosing to open your first international office can be a very exciting time, but it can also hold a lot of questions and uncertainty. Is your company really ready for this huge step? How can you plan the move so that your business is set up for success from day one in the new country? As international removals specialists, we’ve had our fair share of experience with businesses moving their offices overseas. In this post, we’ll walk you through a few things to take into consideration when planning your big business move abroad.
Consider Location Carefully
If you’re about to step into the world of global business, you’ll already have a good idea of where you want to set up your first office abroad. As with most things concerning property and business, location is always key. The best bet in terms of where to open your first overseas office is to consider where the bulk of your business and customer base is located. You’ll also want to consider potential business, and where you’re getting a great deal of interest in your services or products. By setting up in a location that meets these criteria, you’re more likely to start with momentum for your business, ensuring you’re easily able to start getting business quickly.
Culture is also going to be an important factor. You’ll need to make sure that the country where you are setting up your next office will mix well with not only the culture you have cultivated in your business but also the products or services you offer. While some of your existing employees may make the move with the business, you’re likely to need to recruit some local talent so it’s vital that locals can relate to the feel of your company and whatever it is you’re offering. If not, you could have some issues getting operations started. If you feel there will be some small cultural differences, think of ways you can make the transition easier, both for your existing employees who will be relocating and new recruits.
Start Your Research Early
When planning to go global, it’s never too early to start researching. Take the time to feel out the potential locations you have in mind. Attend industry conferences or trade shows in the area to begin integrating with the business community, and network with your existing clients and customers in the area. Get as much information as possible about the market prospects in the country.
This will not only allow you the opportunity to learn about the prospects of operating in the area but will also give you a head start on setting the foundations for important business relationships. Furthermore, the more research you do in the area, the more confident you will be when it comes time to make the big move.
Take Your Time
Opening an international office is not a decision to be taken lightly. This is a big decision, so it’s not one that you should make quickly. Impulsively deciding to go global or choosing your next location on a whim can be a great detriment to your business. It’s important to remember that expanding in the market is not a race, especially if you are seeing your competitors do so. This can certainly make you feel the pressure to begin the process, but it’s vital that you take the right steps, and more importantly – the time – when beginning the process of opening a location abroad.
It is wise to consult your lawyers, accountants and HR experts when you begin the process, as they will be able to make you aware of any obstacles or vital steps in the process that you may not be aware of. Especially if you’ve never opened an international location before, guidance is extremely important and can help you be sure not to make any mistakes that could harm your business.