Main Street to China
Once business is booming in the states, the next step is taking it abroad. But with factors like different customs and an unfamiliar market, it can be hard to know where to begin.
“Seeking out external expertise and having the proper representatives in place who understand the country’s languages and cultures has been essential,” says Anisa Telwar, founder and CEO of Anisa International. She took her business to China in 2003.
“Making sure we could support that growth with a knowledgeable team was an important part of that expansion.”
The decision to take a company international is often costly – from trade taxes, unfavorable exchange rates, overhead costs, recruiting new talent, constant travel to oversee operations and transportation of goods.
Telwar suggests seeking out regional trade and commerce organizations – for little or no cost. “We utilized the Hong Kong Trade Commission a good bit, which was really invaluable.”
When choosing a country to expand to, experts suggest asking questions like: Is there market research to determine if the product will sell in the targeted country? What is the social and economic infrastructure? Will you have to alter your product in order to sell it there?
With the growing presence of social media and online shopping, small businesses can now reach customers on the other side of the world. Those who did it suggest having a website that translates to other languages and training employees on foreign culture and communication customs.
Bonus PINK Link: Need to expand in the states before going abroad? Here’s how
By Muriel Vega
“Chance never helps those who do not help themselves.” Sophocles
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