6 Tips for Starting a Business in Another Country

Creating a business of any kind from scratch is a very challenging task, and starting one overseas can be even harder. However, we are here to help. This article is dedicated to giving advice regarding starting a business in another country, and we have put together 6 tips for you. Let’s go:

1. Understand the country where you want to go

First and foremost, it is important that you have a good understanding of the country you want to set your business up in. You need to understand the consumer culture in order to make your business in another country a success. Each country has different customs and ways of doing things, so try to clue up on this before you decide on a country.

2. Language

It is always an advantage if you can speak the language of the country you wish to go to. However, if you can’t then there is always the option of taking up a class to learn the language whilst you’re there.

Local people always prefer it if you make the effort to speak to them in their own language. Even if you can’t speak it well, they will have more respect for you if you try.

3. Network

Finding different corporate connections is important when going overseas so you can connect with people in your new country. Corporate connections can provide you with advice for your new start-up and could even introduce you to a client base. Having a good network of business connections would allow you to feel less alone when moving country. LinkedIn is a good way of making connections!

4. Check out the competition

You can learn a lot by reviewing the competition in the local area. You can see what works for businesses and what they should improve on and incorporate this research into your own start-up.

Photography: Tanya Vasiliuk

5. Embrace the culture

If you embrace the culture then the country will be more like your home. It is likely that you will have more fun and a better experience living as a local. This in turn will help you with your business in another country as when we are happier, we work better.

Additionally, embracing the culture will allow you to gain knowledge about local business attitudes. In turn, you will find it easier to market your business appropriately to your new client area.

6. Legalities and insurance

Before you set up your business overseas, make sure that you are clued up on legal procedures so that you’re not caught out when you arrive. Things such as taxes and necessary insurance vary from country to country so it is important you check it out.

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