Overseas markets are more attractive than ever for small businesses who now have access to the latest technologies to reach growing affluent populations in countries like China and India. But deciding if and when to expand overseas is a tough call, especially if you have a young family.
Expanding your market reach doesn’t automatically equal expanded profits – it can of course – but make sure you ask the right questions and that it’s the right timing for you and your family. 除了商业问题, there are plenty of personal items to consider in terms of your well-being, 管理你的时间和压力, as well as making sure to factor in some time with your family!
So is the timing right for you business-wise? Here are my five tips on areas which you can investigate and research now to help answer that question before you outlay any capital.
- 谘询政府机构 -澳门赌场官网贸易委员会网站www.澳门赌场官网使馆.澳门赌场官网使馆.政府.au/export is a good place to start for helpful information, 包括国家概况, reporting obligations and market opportunities. The Austrade Trade Commissioners overseas are also invaluable sources of information and contacts.
- 加入商业协会 – their programs and sessions can be a great way of gaining market insights and contacts overseas. Accru can connect you with various associations including the German-Australian Chamber of Commerce, 澳中贸易委员会, Australian Tamil Chamber of Commerce and Australia Malaysia Singapore Association. These groups are all well worth approaching for local advice and building your overseas connections.
- 研究市场 – Look at the marketplace you want to go into. 你将如何适应当地文化? 看看你的本地竞争对手. 谁已经在那里了? 他们在做什么——对还是错? 有你的位置吗? Do you need to adjust your product or service to meet local customer tastes? Does your marketing message translate to the local language? The more familiar you are with the country’s local demographics, the easier it will be to determine your market and promote your brand. Spend some time abroad and speak to potential customers to avoid costly mistakes.
- 从小事做起 – Identify which of your core competencies make the most sense in a given country or region, rather than trying to duplicate your entire domestic operation. Expansion is almost always accompanied by increased expenses. Test the waters before you jump in head first! Start with one or two key goals for your business in a small slice of a foreign market so you can manage growth and easily evaluate your success along the way.
- Examine your finances and consult your bankers – Finance is always a big challenge – entering a new market is risky and usually requires a big capital outlay before you start seeing much return. Have you got the required extra funds yourself or will you need investment or loans to support the expansion? Be honest – could these funds be better used towards developing your local market, 而不是向海外扩张? Think about your exposure to exchange rate risk, and how you can ascertain reliable credit risk information from new customers, 保护自己. Letters of credit – or other trade financing instruments may provide a solution.
Next article I will look at the financial and business setup issues involved – eg company structure, 税, 合同, 政府ernment grants – for those who are closer to deciding to take the plunge overseas. There is also lots of useful information on Accru的国际商业博客 在我们的 Accru亚洲 网站
In the meantime, if I can point you in the right direction of any Accru Felsers overseas partners or business associations in 悉尼 that may be able to assist you, 请与我们澳门赌场官网.
