With the ongoing improvements of the ASEAN integration, a lot of companies are gradually keeping up to have what it takes to go global. Having the capital to export products or simply find a distributor partner abroad may seem enough and a lot of companies are going out in a drop of the hat to get ahead of the growing competition. But a lot of them are surprised at how inadequate their preparations are, despite the amount of money they have prepared to burn.
When does one become ready?
Global entrepreneurship is more of a mindset of an entrepreneur than just a concept of growing the business and taking it abroad. Being a global entrepreneur means having the ability to easily identify cross-cultural opportunities outside the country for the purpose of expansion. Innovation, extra creativity, and extra competitiveness have to be applied when preparing on a global scale. Furthermore, the need to become global becomes eminent when an entrepreneur feels the need for the following:
Aside from knowing more than the potential benefits listed above, barriers to enter - or risks - have to also be considered. Here are a few of the important ones:
Most importantly, do your homework. This list includes a few of what we think is common but important things to consider. With all these things chewed over, the business will need all the help it can get to fly out - or get shipped, literally.
Then comes the big question: Why?So you gather that your business is ready for the big leagues. You finally decide that you’re going to go big and go global. International trade is a huge leap even if you are the top dog in your locale. It can be even more daunting especially for those who may be new to this. With every territory having their own regulations, attempting to maneuver your way into this without an expert can be disastrous. These experts are called licensed customs broker. They’re the ones who’ll help you get your products to the eager hands of consumers abroad.
Getting a licensed customs broker is beneficial for any business planning to enter the global market. Why?
As rapidly as the way people are doing business are changing, so are the regulations regarding international trade. With this being more complicated as it is already, new businesses are becoming that more hesitant to expand – stymieing their growth. With globalization upon us, competition is even more cutthroat. Those that cannot adapt to this development are left in the dust, stifled, and consumed by bigger businesses. There’s a whole world out there and with the expertise and help of a customs broker, your business’ potential can be unleashed to the world.