5 Tips For Expanding Your Business Internationally

Expanding your business internationally can be an exciting venture. However, considering business law can be a complex realm at the best of times, navigating the unfamiliar regulations and customs of a foreign country can be particularly challenging.

If you’re ready to take the leap, read on to discover the steps you should take when expanding your business overseas.



1. Conduct initial market research

When selecting a place overseas to expand your business, you’ll need to conduct some initial market research. You should keep market demand in mind but also consider if that market is feasible for you - how smoothly can you make the transition into a new market and how strong is your competition? 

2. Evaluate economic and political stability

If you’re considering expanding your business abroad, it’s important to research the economic and political stability of anywhere you’re interested in conducting work. Study the current economic state of any countries in question and also take a look at their past financial conditions. Factors you’ll want to think about include GDP, unemployment rate and levels of disposable income.

Current affairs will also impact the success of your business and the safety of any employees involved. Be wary of investing in places with high levels of conflict and civil unrest. Critically evaluate any potential risks - terrorism, war, crime levels, protests, riots, labour strikes - and consider how they could impact your business.

3. Study foreign laws and regulations

When expanding overseas, it’s crucial to study the laws, regulations and limitations of businesses for your chosen country. Many countries have limitations on what you can import or trade with, so it’s important to check if these exist.

You’ll also need to thoroughly research the domestic laws of the country, including ones that focus on employment, trade, company law, tax and investment. In some cases, you’ll face harsh penalties if these rules are not abided by and you can even face expulsion from the country.

4. Be mindful of language and culture barriers

The extent of language barriers and cultural differences between your home country and the place you’ve selected can have a moderate impact on the success of your business. For example, how much spoken and written translation will be involved in the process of conducting operations overseas?

You’ll also need to thoroughly study the cultural norms and traditions of your chosen country, particularly those of a religious nature. Learn the local business etiquette and how it differs from your own - this will save you a lot of frustration and misunderstandings.

5. Find a legal advisor

It’s sensible to seek legal advice when beginning the process of expanding your business internationally. Consulting solicitors and other legal professionals enhances your chances of success in the global market.

If you’re in need of assistance in conducting business abroad, Paddle & Cocks’ LPP Solicitors can help. Our team is well equipped in international business law and can support you in navigating the legal nuances and regulations that you will face when working internationally. Contact us today for a no-obligation consultation.