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Know the advantages and disadvantages of different arrangements for doing business overseas, and the major legal issues arising from each, before you go global. Then, make sure everyone involved complies with your standards for behavior and performance.
If your personnel, products, partners and resources are mobilized for overseas expansion, you can overcome the bureaucratic, cultural and economic obstacles outlined in the previous article of this series. Read this one to learn the underlying conditions that foster success.
Taking your company global can supply resources, help the business grow and bring desirable technological development to other countries. To do it right, consider the obstacles and gather background information first.
The more you can use legal protections to safeguard your business, such as choosing the right legal structure at start-up, the easier it becomes to ensure nothing enters that could harm your business.
The Kauffman Foundation is in search of experts on high growth entrepreneurship policy to help create a global policy roadmap for advancing entrepreneurship. Weigh in with your thoughts on policies that facilitate entrepreneurship, ways to remove regulatory barriers for entrepreneurs, or any topic pertaining to global policy and entrepreneurship.
Global growth is essential for entrepreneurial companies but must be managed to overcome challenges such as language barriers and tax-related paperwork, says the founder of a Harley-Davidson licensee.
Hiring the disabled allows entrepreneurs greater productivity, lower labor costs, and lucrative tax benefits, in addition to engendering goodwill, says a company founder who employs brain-injured workers.
Doing business in the rough-and-tumble arena of underdeveloped countries involves adhering to global business basics, such as researching markets thoroughly, while coping with surprises, writes a veteran international entrepreneur who first took his company overseas three decades ago. In entering the "emerging markets," entrepreneurs need to keep close tabs on how (and if) they will be paid, as well as on local managers overly eager to make sales.
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