Naritas Finance
Daily Bulletin

Business News

  • Written by News Company


If you’re part of a business with significant aspirations, you’re always searching for new and exciting ways to increase profits, expand brand awareness, and ultimately branch into new territory. Stepping into the international scene is a great way to do all of these things, but us fraught with potential pitfalls and roadblocks. The SIX tips below will help you make international moves without shifting your business into the red.

 

1. No Place Like Home

 

Wherever you are expanding, your target consumers or clients are going to want to see your commitment to their market with an established physical presence. However, obtaining and maintaining dedicated premises and be a logistical and budgetary nightmare. One hassle-free option is a fully equipped serviced office that can provide everything you need, without the cost or hassle. Most serviced offices provide you with a location in a prominent address, meeting rooms, working areas, virtual receptionist and other services, as well as access to essential business equipment, so you’ll be ready to roll and present a great impression.

 

2. Develop a Solid Business Plan

 

Planning is everything when you’re entering a new market. You may want to discard any preconceived notions you have about your business and the way your product will be marketed—everything changes when you’re stepping into a different culture and often a different language. You’ll want to look at the differing legal or regulatory requirements in your target country, as well as any additional costs of doing business, such as shipping, taxes and tariffs. Planning is everything, and a move this significant needs a short, medium, and long-term strategy and set of goals. Start thinking about budgets and how you’ll organize your branch to its new strengths.

 

3. Think About Distribution

 

When you move your goods to the global market, you need to think about how you’re going to get them to their destination in a cost-effective manner. Additionally, you’ll need to think carefully about packaging, labeling, and following any regulations of the country into which you’re expanding. Each nation has its own systems and requirements that you will need to align with to ensure that you can deliver. Time spent familiarising yourself with any differences will be well spent.

 

4. Seek Assistance from Those Who’ve Been There

 

Talk to any connections in your specific industry about their experiences. What sort of roadblocks did they stumble upon along the way? You’re going to run across different customs, language barriers, and marketing difficulties, and you’re going to want to know how those who came before you managed to break down barrier and keep going.

 

5. Financial Backing

 

When you’re expanding, you always need to ensure that you have the business profits or outside investments needed to make the move a success, but this consideration becomes even important and complex when the expansion is taking place in another country. You may need to think outside the box and tap private investors or government programs to make sure you’re staying afloat.

 

6. Know Your Competition

 

Insights into your competition are critical in any form of business, but even more so when your playing on your competitors’ turf. How do local businesses market to their communities and culture? What are the thriving companies doing differently? What are the failing businesses doing wrong? Competitive analysis becomes a much more in-depth look when you’re trying to set yourself up in a new environment.

 

Making the overseas leap can seem incredibly daunting. Nevertheless, businesses around the world are successfully integrating their business models internationally. With the right research, analysis, expertise, and team, you can, too.

 

How to Become a Farmer That Makes Serious Profits in 5 Steps

A career in farming can be incredibly lucrative, if you have the right tools and know-how. Here's how to become a farmer that makes big profits in 5 steps.   Australia's farm industry makes up abo...

News Company - avatar News Company

5 signs you need to update your office furniture

Sometimes it is obvious that you need to update your workplace furniture. It may be physically broken, like an office chair that has lost its ability to be adjusted up and down. Or perhaps the desks...

Belinda Lyone, General Manager of COS - avatar Belinda Lyone, General Manager of COS

Independent online mortgage marketplace HashChing

MORTGAGE MARKETPLACE LAUNCHES CONVEYANCING SERVICES TO MAKE HOME LOAN PROCESS CHEAP AND FAST New legal partnership gives borrowers easy, online access to high quality solicitors at a fixed price  ...

Media Release - avatar Media Release

Swinburne and Coviu ready medical professionals for remote healthcare delivery

Swinburne has partnered with Coviu, a telehealth software platform, to further embed digital health technology in the classroom, clinic and research.   The partnership will engage students, and th...

Media Release - avatar Media Release

Why Is India so Appealing for Businesses?

You are probably aware that plenty of multinational companies have branches in India, from Apple and Microsoft to Coca-Cola and Pepsi, and with good reason. So, if you too are thinking about startin...

News Company - avatar News Company

Carly launches Car Subscription in Sydney

Sydney, 9 April 2019: Carly - Australia’s first flexible car subscription has now launched in Sydney.   Carly is an alternative to saving for a deposit, leasing or borrowing money to buy a car. It...

Media Release - avatar Media Release

Politics

Tasmanian Defence Innovation and Design Precinct

MORRISON GOVERNMENT DELIVERS ON DEFENCE INNOVATION PRECINCT FOR LAUNCESTON The Morrison Government will invest $30 million in Phase 1 of the Tasmanian Defence Innovation and Design Precinct at th...

Media Release - avatar Media Release

Alan Jones interview with Scott Morrison

Bill Shorten’s big new taxes; our strong Budget for a strong economy; supporting essential services; Murray Darling Basin; ALAN JONES: Prime Minister, good morning. PRIME MINISTER: Good morning A...

Alan Jones - avatar Alan Jones

The Morrison Government’s Pledge to Create More Jobs for Young Australians

The Morrison Government’s plan for a stronger economy will create 250,000 extra jobs for young Australians.   We will back young Australians to secure a great job by giving them the chance to gain...

Media Release - avatar Media Release

Travel

Things to Consider Before Emigrating to Australia

Moving abroad is often a big and an overwhelming decision that can hugely change your life and your future. Therefore, it is important to spend some time considering where you want to move to and rese...

News Company - avatar News Company

The Majestic City of Innsbruck

Innsbruck is the capital city of Tyrol and is the fifth largest city in Austria. It is located in western Austria between the high mountains of Karwendel Alps in the north and Patscherkofel in t...

Nico Hoffmann - avatar Nico Hoffmann

Bedsonline hosts Australian events to celebrate new brand launch

SYDNEY, April 15, 2019 Bedsonline(https://www.bedsonline.com/home/en-na), the leading global provider of accommodation and complementary travel products exclusively for travel agents, has hosted a ser...

Bedsonline - avatar Bedsonline

ShowPo