..

Business News

  • Written by News Feature Team


There are plenty of reasons to do business in Europe, but also unique intricacies to make sure you have a handle on before doing so. Some of the benefits of doing business in Europe, particularly if you’re a US or Australian-based business include the fact that language isn’t often an issue, many of the processes are similar in these locations, and the infrastructure is strong.

Of course, there are differences as well, and there are things you should keep in mind to ensure it goes smoothly.

The following are some things to know about doing business in Europe.

Choose the Right Expense Management Software

When you’re expanding your business to Europe, one of the first things you should do is find the right global expense management solutions.

You’ll need an expense management platform that can handle the tax complexities in Europe, language issues, and currency conversions. It’s best to look for a platform that automates all of these processes to make it as simple as possible. Also, when you’re operating across geographic borders you want to ensure everything is centralized and visibility is robust, and also that employees can track expenses from anywhere at any time.

Be Ready for Face-to-Face Interactions

Despite the widespread availability of digital communication tools, in Europe, face-to-face interactions are extremely valued and important. If you’re setting up shop at any scale in Europe, you should be prepared to meet this expectation.

You’ll of course also want to learn about local customers, cultural considerations, and business practices, but you need to go beyond considering the EU as a whole, and instead look at individual regions and countries because it can vary significantly even among countries that are part of the European Union.

Centralized Rules

While there are many localized rules and regulations for doing business in the EU, there are also centralized ones as well.

As an example, there’s a new one that goes into effect on May 25, 2018 called the General Data Protection Regulation or GDPR. This one is an extension of existing data protection regulations, and it’s going to put more stringent rules on how data is handled. It will dictate important rules on how businesses and organizations use and store personal information, and businesses operating in Europe will be required to create the right infrastructure and processes to adhere to what’s outlined by this.

Consider a Partnership

In Europe the concepts of bright new ideas, products, and services are welcome, and sometimes the best thing companies from abroad can do to break into Europe is create a partnership or merge with an existing company. Acquisitions can also be a good route. The European startup scene is currently booming, making it a great time to start exploring these opportunities.

If you’re a corporation that’s looking for international expansion, keep your ear to the ground regarding promising new European startups that could offer you a valuable opportunity. Right now it seems like the sectors to really watch include healthcare and environmental.

Hussh

Hussh . . . The Secret is Out Your exclusive invitation to 9 massive warehouse sales this week The secret to huge savings is shopping directly from the warehouses of Australia’s biggest wholesa...

Web Wisdom - Simple Ways to Increase Sales as an e-Commerce Website

The online marketplace is a virtual paradise for consumers who love a bargain. Today’s e-commerce has become so evolved that consumers not only have purchasing power, but they also can influence maj...

Digital marketing agencies are fudging the numbers and distorting the outcomes for their clients

Many digital marketing agencies manipulate reports to make themselves look good, offering vanity stats that really provide no benefit to their clients. One of the most common mistakes companies make...

Is your employment function running on all cylinders?

Employees are the lifeblood of any company and for your business to be successful, having your employment function running like a Swiss watch is crucial. How do you achieve this? Well, according to...

New Australian mother and baby care brand shakes up market

Eonian Care is an Australian mother and baby care brand determined to make the ‘new mum’ experience a whole lot easier.  Founded by Summer Hua, Eonian Care provides new mums with an expansive range ...

Leatherman

FOUNDER OF GLOBAL TOOL BRAND BRINGS ANNIVERSARY WORLD TOUR TO AUSTRALIA This year marks the 35th anniversary of the iconic tool brand, Leatherman, and to mark the milestone Founder Tim Leatherm...

Politics

George Neophytou supports roads funding and more

Independent candidate for Gippsland East George Neophytou has pledged to support completion of duplication of the Princes Highway between Traralgon and Sale and to upgrading of the Sale alternative ...

Scott Morrison interview with Alan Jones

Belt and Road Initiative; Law and order in Victoria; Queensland infrastructure; Power prices; Paris Agreement; Immigration; Negative gearing.   ALAN JONES: Prime Minister, good morning.   PRIME ...

George Neophytou a real force to stop the Fingerboards Mine

George Neophytou a solicitor contesting the election as an Independent Candidate has been an activist against the Fingerboards Mineral Sands Mine for over two years. His track record shows ability a...

Travel

Pet-Friendly Summer Destinations in NZ

No one wants to leave their pet at home and why should you have to? When it comes to traveling around in a campervan hire New Zealand, you may not want to live your precious animal back home. You shou...

DriveMyCar

DON’T GET SLUGGED WITH THE SIX-HUNDRED-DOLLAR CHRISTMAS TAX Revealed: traditional car rental companies charging 3.3 times more to rent a vehicle over Christmas A comparison of rental costs per day...

Looking for a Romantic Destination? Here’s Why the Philippines May Be Perfect for You

Image Source: https://pixabay.com/en/couple-man-woman-girl-guy-love-2585328/Perhaps, you want a spot to celebrate your honeymoon after several months of wedding planning. Or, maybe you are just loo...