When it comes to starting a business, you can almost guarantee you’ll come up against a few issues. However, if you’re trying to start a business anywhere other than the UK, there are other things to factor in that you may not have considered.
With small business growth weaker in some areas of the UK than others, and with the market becoming seemingly crowded in recent years, considering a business venture abroad may have crossed your mind.
While you’ll have taken business funding into mind, there are other elements you have to think about when starting a business abroad. One of these is the country, which is why we’ve highlighted three things to consider when deciding on a specific country.
The first thing you need to think about is how difficult it’ll be to get a visa for that country.
A number of countries actively encourage small business entrepreneurs to come over, which could make it easier, but this will all depend on the type of businesses. Meanwhile, places like Australia and the United States have very strict requirements for visas. Most visas have to be renewed yearly too, which is something you need to keep in mind. So, it’ll be worth having a good think beforehand.
If you’ve worked in business in the UK, you may not have faced this before. But abroad, you may come up against strict rules, roadblocks, long lines and things you’ve not encountered before. In fact, it may be more who you know than what you know.
Therefore, speak to other people that have started businesses in these countries beforehand, and see what country is right for you.
Local language and customs
Obviously, places like the US and Australia speak fluent English, but what about other countries? Some places, take China for example, will have large English-speaking communities, but others may not. So, you may have to take learning a language into account too.
Meanwhile, the local culture is something to think about, as it’s something you’ll have to consider if you’re looking to run a successful business. Therefore, it’s important to brush up on the country you’re looking to head to beforehand, just to ensure you make no big mistakes when you arrive.
So, if you are looking to move abroad and start a business, and you want to make a success of it, it doesn’t always lean on the business, but the place you opt for. So, with these helpful tips, you should be able to make an educated choice when it comes to going abroad.