5 Steps to Developing an International Business Strategy

In today’s era, once companies attain local market success, they look toward international expansion to capitalize on the massive purchasing power of global markets. It allows them to expand their customer base, partner with industry giants, and improve product lines, all the while accelerating growth.

International business strategy

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When it comes to growth, companies are often tempted to consider global high-performers such as Shell, IBM, BMW, and GE as role models. The problem is that these global leaders are much easier to idolize than mimic. Nonetheless, businesses of all types can reap the benefits of the international marketplace by leveraging eCommerce tactics, franchising, strategic alliances, and whatnot.…

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Five Global Expansion Strategies to Consider in 2022

It’s 2022, and your business is doing well. You’ve decided that it’s time to take your company international. But where should you expand first? What are the key things you need to consider when expanding globally?

Planning for business expansion

As we move further into the 21st century, more and more businesses are expanding their operations globally. This can be a great way to increase profits and reach new markets, but it is not without its challenges. You will have to take a variety of factors into account. The political and economic landscape is changing rapidly, and it’s important to stay ahead of the curve if you want to succeed in new markets.…

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Taking a Manufacturing Business Global

Even with national success, it is still very challenging to take a manufacturing business international. As with any other business looking to go global, winning over the thrust of a new target market is difficult but with some work, it can be done.

Manufacturing work

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There are a lot of challenges that come with scaling up a manufacturing business and below, we will look at how you can overcome the most common challenges when taking a manufacturing business global.

Go Local While Going Global

When entering a new market, localization is key. Research has shown that people respond better to and engage with businesses that address them in their local languages.…

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What to Consider When Hiring an Effective EOR for Global Team Expansion

As the business world grows more and more competitive, companies are starting to adopt new strategies to keep their businesses afloat. For many large firms, one of these alternative strategies is to expand their global reach.

Hiring using Employee of Record (EOR) service

Many companies appoint EOR services to handle global operations successfully, but many challenges come with such a monumental task.

By understanding the role of Employer of Record or EOR, businesses can make an educated decision about whether they should be hiring them.

Here are some tips for managers and senior leaders to effectively pick the best service.

What can an EOR do for You?

Using a global Employer of Record guarantees that all your banking, insurance, taxes, human resources, facilities, and contract terms are fulfilled.…

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Smart Ways to Manage International Transactions for Your Small Business

Having an international presence is one of the best choices a small business can make.

With the international consuming class expected to grow by 75% to 4.2 billion people by 2025, expanding your operations overseas will give you the opportunity to capitalize on international demand and enhance sales potential of your current offerings.

International transaction

In addition, you get to source products from low-cost countries and recruit skilled individuals.

But while global expansion increases your potential for growth, it’s not without challenges. A major one is international payments. Conventional banks often put hefty fees on international transactions for businesses. Also, managing business finances across multiple currencies is no easy feat.…

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