Moving abroad is never easy. Moving your business abroad is so much more difficult.It’s a very big decision that requires a great deal of organization and planning.Needless to say, that isn’t a light decision though, no matter how cost-effective it may be.
Once you have made it, it’s time to do some research and organize your move as better as you can. Don’t worry – it may be a complicated process, but not impossible, especially when there are many tips for corporate relocation that can help you with that.
The most crucial step in moving business abroad – rules and regulations of the country
First, what you have to consider when moving your business to another country are the rules and regulations. Every country has a different kind of business rules, so you have to be very careful not to accidentally break some of them.
Also, this is the first step that you have to explore regarding the country that you want to relocate in. There may be some restrictions that may prevent your company from setting up in certain countries. If that is the case, you can lose a lot of money searching for a location in the new country, on translations of the documentation and sourcing staff. That’s why this step is crucial.
To secure yourself and your business, you may want to seek the expert advice. When the expert confirms that there are no obstacles for you to relocate your business, then start to plan the moving process.
If you are moving business abroad to a country where your native language is not the official language, you will face a language barrier. It’s bound to happen, but you can easily overcome it. You will surely have to hire translators, but you should carefully select them. The people that will be translating your business meetings have to be the ones that you can trust.
It won’t be the worst idea to take some language lessons before you relocate. Nobody expects that you’ll be fluent in no time, but the greetings on the local language can help impress the local business partners. If you are planning to bring staff from your country, pay the language lessons for them also. The productivity will be higher and the business will go much smoother.
Every country has a different culture and customs. They may be weird or even offensive to you, but you should find a way to except them.
In the end, you are coming to their country, and it’s your job to assimilate. Do your research and find out everything that you can about the country that you are moving your business to. Especially if the culture is totally different from your country.
When you are moving your business abroad, you will surely visit the new country, preferably more than once. Use that opportunity to get acquaintance with the life and customs. No amount of research can replace your own experience. Visiting the country and the city that you are moving your business to will give you a real perspective of what to expect and how to prepare for the eventual cultural shock.
You maybe have to change marketing strategies
Another thing that can be different in the country that you want to relocate your business is advertising. The marketing strategy that is successful in your own country, doesn’t necessarily mean that will do well in another country.
You may have to target totally different kind of audience or make totally new marketing strategies. The biggest concern that you have to pay attention is the slogans. Maybe they sound great on your native language but doesn’t make any sense when they are translated on the local language. Or worst of all, they can be offensive.
That’s why is wise to hire a local expert. It’s maybe an unplanned cost, but it will cost much more if the wrong marketing strategy ruins your business reputation.
When your decision of the relocation is final, you should make a comprehensive business plan. It has to contain aims, goals, costs and a structure. That way you will have an idea how big of the process and what will approximate expense of moving your business abroad will be. Sales and marketing strategies should also be put in the business plan to establish how your business intends to target the foreign market.
Every business plan should have detailed operations with all costs and logistics factored in and a financial forecast that details where you anticipate your business to be in terms of profit for at least the first six months, preferably for 12 months.
The moving process
Once when you’ve taken all of this things into consideration and decided that moving your business abroad is a right thing for you, you can start planning the actual move.
Here are some things you have to do:
- Find professional movers – moving your business abroad will be impossible if you don’t hire the professional moving company. Put yourself in the hands of the experts, and decrease the possibility that something goes wrong. At the verifiedmovers.com you can find the most reliable moving companies that you can trust.
- Notify everybody about your move – when you are moving your business to another country, you have to notify your employees, business partners and stockholders about that. Also, don’t forget to inform your bank and insurance. If you are renting the office space, be sure to give your landlord a notice.
- Get your affairs in order – before you move, you have to pay any eventual debts that you have, utilities, taxes rent, obligations that you have to your business partners. Once you do that, you will be ready for a clean slate to another country.
- Get your papers in order – be sure that you have all the documentation that you need to start a business in the new country. That consider visas for you and employers that are relocating, translated documentation regarding your business, certificates, maybe even a business plan.