With a new year comes new opportunities. You can take advantage of these opportunities by expanding your business internationally. While this is an excellent way to continue to grow your business, there is a lot that goes into it. There might even be some unforeseen circumstances or conditions that you need some help with. This is where Accountants Without Borders comes in. Whether you’re moving to or from the US, we’re here to help. Keep reading for some tips to help you get started.
As with any relocation, it’s important to know where you’re going. One of the benefits of moving your business to a new country is that you can choose your new location. However, it’s important to know that just because you want a location on the beach or next to a ski resort doesn’t mean that’s what’s best for your business. Do your market research to find out where your business will thrive. Learn as much as you can about real estate value and foot traffic in the area you’re planning to move to.
In addition to learning about the landscape of your new area, research the demographics. Learn as much as you can about average income levels, education of the workforce in the area, and the cultural makeup of the area. This might require two or even three trips to the area to gain an in-depth understanding.
Research marketing methods
While the principles of marketing are universal, marketing methods are not. Billboards and newspaper ads might work for businesses similar to yours in one area but have no effect on customers in another. Learn how to effectively reach your target demographic wherever you decide the appropriate landing place for your business.
Do this early, because you can start your marketing efforts before you make the move. As soon as you know when your move is happening, start marketing. Start building buzz right away to establish a clientele or customer base. Whether this means building a new website, claiming new social media accounts, or even purchasing billboards, there’s nothing stopping you from advertising before you move.
Speak with other immigrant business owners
Running a business in a new country can be difficult and intimidating. Before or shortly after you relocate your business it’s a great idea to reach out to business owners in your area who have also immigrated to the area. You can gain insight into some of the challenges faced, what’s different about running a business in the US, and how you can benefit from laws that are unique to your area. Keep in mind, you don’t have to speak with other business owners that are in your industry. Speak with many business owners via social media, phone calls, video calls, or even in-person to learn as much as you can before and after your move.
Learn local tax and operating laws
When it comes to tax laws, operating procedures, and other bureaucratic red tape, it’s crucial that you understand what it takes to run a successful business in the area. The team at Accountants Without Borders can help you to gain a full understanding of what you need to know to legally operate. This includes everything from property taxes to expenses that can be written off as operating costs.
Get started with Accountants Without Borders
The Accountants Without Borders is here to help you expand your business internationally. Whether that means moving to or from the US, we’re a San Diego, CA-based company that can help. Contact our team today to get started.