challenges

Exporting: Challenges of Doing Business Internationally

Exporting: Challenges of Doing Business Internationally

Exporting may be a challenge, but the potential rewards are huge. Below are some of the most commonly cited hurdles to doing business internationally, and advice on how to overcome them. Resource costs Entering an overseas market may require both financial investment and an increase in manpower. Timescales can also be an issue, with short-term ‘pay back’ not necessarily guaranteed. It’s advisable to discuss your financial position with your accountant and bank manager before committing to exporting. It is also important to take the long-term view and build appropriate timescales into your projections. Customers and partners in high-growth markets, for example, tend to put an essential value on relationships and it is unusual for a return on investment to emerge within the first year. Legal... »