Take Risks to become an International Entrepreneur!

Have you ever thought about becoming a businessman in a foreign country? Exporting local commodities to other countries, for example? Or establishing a kind of language course abroad?

The big foreign countries are not only for the Unilevers and Shells of this world. Even as a small entrepreneur you can start abroad. Whether it is about setting up a picturesque hotel in Tuscany or opening a subsidiary in Eastern Europe.

ENTREPRENEUR

How do I become successful as an international entrepreneur?

The chance of success is of course unpredictable. Yet one aspect is indispensable for any foreign adventure: your personal qualities. There is a lot involved with emigration. Go after it …

– You provide the collateral that you have built up in your country.
– You have to adapt to a new country and the culture there. It’s recommended to find information as many as possible. For your info, getting info from traveling-related sites such as www.touristsecrets.com is a good start.
– And not only you, but also your partner and possibly children is such a foreign adventure without impact. You have to manage them all.

So do you dare to take risks? You can network in a different language. And not unimportant, do you take responsibility if something goes wrong?

How do I get to know the local market?

From discovering a gap in the Spanish market to finding an interesting project in Burkina-Faso online. There are an incredible number of options for finding and taking advantage of opportunities abroad.

Make an impression with your business plan?

Whether you want to start in tourism or another sector, first analyze the market. What’s going on What should you take into account? Are there any bumps you encounter? And be honest during this search.

– Will you stay as enthusiastic as you were?
– Are you becoming increasingly curious about your potential customers?
– Do you really want to get to know their language, customs and the market well?

Also do extensive local market research, specific to your company. If necessary, ask for support from local professionals or if it is still too difficult for you in terms of language.

Which rules and subsidies are relevant?

If you have international ambitions and want to set up a company abroad, you must also take into account the rules of the (local) government and taxes in the country of your choice.

– Talk to local entrepreneurs who preceded you. Are you going to do business in an EU country or a South American country?

 – Are you going to practice a protected profession? Then arrange professional recognition and the translation of your diploma. 

In addition to rules, there are also grants for which you may qualify with your foreign (subsidiary) company. For example, there is the EU Gateway Program, intended for EU-based SMEs who want to export to Japan and Korea. This program organizes trade missions for specific promising sectors, in which companies can explore the market.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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