Publication 16 pages

Taking the fear out of international expansion for US companies

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16 October 2014

This new IDC White Paper “Taking the Fear Out of International Expansion for US Companies” , commissioned by TMF Group, focuses on the experience that US based companies have had when expanding overseas.

As the US economy becomes more confident in its recovery, 82% of US businesses are now looking overseas in a bid to grow sales.

The paper?concludes that US companies looking to expand overseas should:

  • Finding the right people:
    The prime issue for businesses entering new territories is to find, hire and train the right staff.?Not understanding the local culture when it comes to recruitment and addressing this lack of empathy in some locations where high staff turnover is the norm is a challenge when it comes to establishing a business in a new country.
  • Keeping on the right side of the law:
    Working with and understanding the legal processes and regulations in the new location are also seen as a significant issue for businesses in establishing their new operation, especially when trying to ensure they fit in with the way the rest of the business operates.
  • Finding the right local support:
    In the case of both finding the right staff, and keeping on top of legal requirements, nearly two-thirds of respondents (64% and 65% respectively) look to work with local partners.
  • Do research:
    Start planning early and research the specifics of the territory’s political, legal and cultural environments, as well as into the competitive landscape and the target market and / or workforce.
  • Consider local experts:
    Give serious consideration to using third parties with a strong local presence, particularly in the early stages of territorial expansion. Third parties include IT and business process outsourcers, as well as corporate compliance services suppliers that ensure new subsidiaries are properly constituted and remain compliant with local legal and working requirements.
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