Expanding into new markets brings great opportunities and sometimes unexpected challenges. Here are some areas to research before deciding the next steps for your business.
Though the world has become more interconnected thanks to the internet, air travel, and other technological advancements, there are still many local cultural, economic, and geographic differences. And while tapping into new markets is important for growing your business, doing it the wrong way can be disastrous.
There are five key considerations for successfully going global: language, infrastructure, payments, legal requirements, and cultural norms.