Have you ever looked at the top multinationals and wondered why they are very successful? A good example to consider at this point is Apple. Despite the company’s humble beginning, it has grown into one of the most desirable companies. The following are some of the tips you can use to take advantage of international markets for faster growth.
Pick the right offshore jurisdiction
The first step to taking advantage of the offshore market is identifying the right jurisdiction. Check for the countries that have demonstrated good support for businesses through affordable tax regimes, tech support, and even financial support. One example that holds all of the above qualities is Hong Kong.
The jurisdiction’s independence from the Mainland China has helped to cultivate a business economy that will help your business to flourish fast. Other great options include Singapore and the British Virgin Islands.
Make sure to understand the target market
Taking advantage of international markets demands a clear understanding of all associated dynamics. You need to carry comprehensive studies to establish the pertinent details of the target audience and design the strategies to match clients’ needs. Here you need to answer the following key questions:
- What is the target market?
- What does the target market want?
- Who are the competitors?
- What strategies do competitors use?
- What is the best entry strategy?
To get it right on these questions, it is advisable to work with professionals offering secretary services. You should insist on getting experts in business strategies such as marketing and business expansion who are committed to walking with you until results become evident.
Take advantage of the offshore jurisdiction’s DTAs
One of the main reasons why international businesses grow rapidly is because they take advantage of double tax arrangements (DTAs). These are special arrangements meant to help businesses get preferential treatment when doing business abroad.
For example, Hong Kong is preferred by main investors because it has signed special DTAs with Mainland China and most countries in the Far East. Other great jurisdictions to consider when venturing abroad include the UK as the gateway to the EU and Panama as the entry to the Caribbean and South America.