Tips on How to Grow Your Business Internationally

Businessman Image via Pixabay

Many entrepreneurs find it easier to start a business than to grow it. Inception has its own challenges, but when it comes to expansion into new markets, the going becomes tougher. As such, several businesses tend to restrict their operations within a local zone that they understand better. 

However, technological advances are now helping business people to overcome some of the challenges that they face when trying to grow their businesses beyond borders. Challenges like lacking a clear understanding of foreign markets, difficulties in securing premises for branch offices, and hiring the right candidates for the positions open can now be addressed at manageable costs.

Business growth tips

Many businesses struggle after expansion mainly because of failing to do their research properly. Some expand too much, too soon, while others venture into the wrong markets. As such, research is crucial.

  1. Make sure you understand the target market: Simple things such as culture, taxation policies, and competing products can determine whether the expansion to a foreign market will work in favor of, or against a business. As such, it is imperative that you do proper research on products that are prohibited in the market that you target. Also, check the alternative products on offer and whether the taxation policies are conducive to foreign businesses.
  2. Get a flexible office space: Even after doing thorough research on the target market, it is still difficult to predict what will happen once you launch your brand in the new market. Things could get tough early on prompting you to downsize your workforce to cut costs. In this case, having a flexible office space can help to adjust to the changes quicker. Global office space brokerages like London Office Space provide businesses with limitless office solutions that suit their needs. This is a clear indication that in the modern business environment, technology and flexible business solutions are the future.
  3. Get a local hiring agency to find the right staff: Some businesses can find it difficult to find the right staff for the new job openings. Some might try to hire staff after establishing a presence on the ground. This process is tiresome, expensive, and unnecessary. The easiest thing to do would be to find a hiring agent who can vet those short-listed for the available positions. If the business owner needs to be involved, they can do so via video conferencing platforms like Zoom, which have recently been a revelation amid the coronavirus pandemic.
  4. Partner with a local business in the target market: This strategy is one of the most popular and easiest ways of gaining access to a foreign market. The benefits of using this option include taxation and ease of penetration. Some markets have very restrictive policies against foreign companies looking to launch their products in the market. This happens especially where there are competing products locally and the government has implemented protective measures on local entrepreneurship. Partnering with a local business also expedites the penetration of your products because the local business already understands the market in-depth.
  5. Balance debt and equity financing: It is unwise to finance your expansion solely on debt. While debt can provide the capital boost required to set a new branch abroad, it can also work against your business when the products launched in the new market fail to hit the ground running. Soon, it could become difficult to service the debt, which could push you to shut the expansion.


In summary, businesses are increasingly expanding their operations globally. This is no longer reserved for large multinational corporations. Even some of the most disruptive startups with annual revenues of less than $1 million have direct access to multinational markets. 

Some utilize technology to launch their products in new markets while others are still traditional in their approach. The tips discussed here can help small businesses launch their products in foreign markets.

Similar Articles

Is Online Printing Overtaking Traditional Methods?

In the ever-evolving landscape of the printing industry, a significant shift has been observed in recent years. The advent of online printing services has sparked a debate on whether these modern methods are overtaking traditional printing techniques. 

Enhancing Construction Site Safety through Rental Equipment

Construction sites are inherently hazardous environments, and prioritizing safety is crucial to protect workers and minimize the risk of accidents. Rental equipment from reputable construction equipment rental companies can play a significant role in enhancing construction site safety.

Silicone Edge Graphics

Silicone Edge Graphics, commonly abbreviated as SEG, have actually changed the world of visual communication and also marketing. These sophisticated graphics incorporate the versatility of fabric with the crispness of printed graphics

Ultimate Guide to CNC Foam Machining

CNC machining is a process that utilizes computer numerical control (CNC) technology. It is used to cut foam and other materials into complex 3D shapes. CNC Machining is used in a wide range of industries such as aerospace, automotive and medical industries to manufacture custom parts and components.

Effective Office Management Strategies for Business Owners

As a business owner, managing your office is crucial to ensuring your business's success. Effective office management strategies can help increase productivity, reduce costs, and improve employee satisfaction

Pneumatic Conveying System

Inside a pipe network, dry bulk materials such as grains and powders can be transported with the assistance of pneumatic conveying devices. The flow of nitrogen gas and pressure differentials are the sources of the driving power behind the exchange.

how to start an Ecommerce business alone

Today, starting an online store requires a significant effort on your part. Starting an online business requires a lot of risk and funding. 

office supplies

If you are a regular office attendee, then you must know the vitalities of the office supplies that every other official workspace requires. Employees have become so dependent on the office supplies

9 Smart Budgeting Tips for Small Business Owners

Nothing is surprising in beginning a business requires a fair piece of cash, yet expenses don't end once you're ready. As a small business owner, you'll need to make and keep a solid budget to hold your funds within proper limits.