The international member firms of the MSI Global Alliance have produced a number of free ‘Doing Business Guides’ to help businesses either looking to or already doing business in their region.
There are lots of factors to consider when looking to do business overseas, here are just a few which are covered within the guides you can access at the bottom of the page:
Market insights about the target country or region i.e., information on the local business environment, market size, consumer behaviour, cultural norms, legal and regulatory frameworks, and economic trends.
Entry strategies and options available in the target market including guidance on market entry modes such as exporting, licensing, franchising, joint ventures, or establishing a local presence through subsidiaries or partnerships.
Legal and regulatory compliance
Crucial information about the legal and regulatory requirements of the target market i.e., necessary licenses, permits, certifications, and compliance obligations that UK businesses must fulfil to operate legally overseas.
Tax and Financial Considerations
International taxation and financial regulations; corporate tax rates, incentives, deductions, and any applicable double taxation agreements, plus financial considerations such as currency regulations, foreign exchange risks, and banking practices.
Cultural and Business Etiquette
Each market has its unique cultural norms and business etiquettes. Insights into local customs, business practices, communication styles, negotiation approaches, and relationship-building strategies can foster better relationships with local partners, suppliers, customers, and employees, leading to more successful business interactions.
Risk Assessment and Mitigation
International expansion involves inherent risks and it’s key to understand risks such as political instability, legal uncertainties, intellectual property protection, supply chain vulnerabilities, and market competition.
Networking and Partnership Opportunities
Information about local business networks, trade associations, industry events, and government organisations that can facilitate networking and partnership opportunities.
The following Doing Business Guides can provide UK businesses with valuable insights, guidance, and resources to navigate the complexities of international expansion. They can assist with market analysis, entry strategy formulation, compliance with legal and regulatory frameworks, cultural adaptation, risk assessment, and networking.
Should you need help, support and advice doing business in a country that is not listed below, please get in touch as we will probably still be able to help. email@example.com
To learn more about our support for UK businesses looking to do business overseas click here.