We wish we could say that relocating abroad is as easy as packing your suitcase and letting it travel on a plane with you. But unfortunately relocation of a full- fledged business isn’t that simple. In many ways, it can be like starting a business all over again (depending on how much of what you have to relocate).
With a business come a lot of other things such as supply, demand, a team, legal work, a market, and maybe even work premises. If for some unknown reason, you have to transfer to an entirely new place, but you don’t want to leave behind the success of your small business, what do you do? Perhaps, relocation is deliberate because you want exploit a new market or take advantage of services easy available in another location abroad.
Whichever the case, you’ll need a hand when it comes to knowing what to do with your business and how to chuck it all the way to a different country. Here are a few tips.
1) Know that this is what You Want: Before you even begin planning the relocation process, you need to be sure that it is exactly what you want. Consider your purpose for relocation. If it’s just for a stable income, would you be better off with employment? Relocation is no easy task and will certainly add to your costs at the start. To avoid an unwarranted hassle, make sure that relocation is what you’re after.
2) Research the Market in Your new Location: Is what you serve in demand where you will be moving? This is of course, extremely important to figure out, because after all – demand drives the dough. Ask a friend, relative, or an acquaintance you know in the location that might fill in on the “market” for your business. Dissertation cube – a great resource that helps those who ask them who can do my dissertation – would be the best choice for research. Needless to say, a thorough market research was required when you began your business, and a thorough market research will be required at the time of relocation as well.
3) Determine Whether or Not You Can Keep Former Clients: If you’re a lucky freelancer, or someone who has been providing a service online, relocation may not a major issue provided you can maintain existing customer relationships from anywhere in the world. With such nature of business it shouldn’t matter where your “office” is located.
4) Don’t Forget to update Your Address/Contact: The contact page and the “about” section tells a lot about a company. For one, potential customers can decide whether or not they want to hire you based on your location and the possibility of meeting with you in person. Secondly, you’ll want a way for your leads to contact you,if and when they consider your services. Evidently, not every customer, existing or new, would be aware of your re-location and how to get in touch with you. This includes both web and print material (blogs, brochures, business cards, etc.).
5) Build a Network: Networking is the key to an SME’s success and it certainly has the potential to power up your business in a new location abroad. Prospective clients shouldn’t be the only motive behind your networks. Perhaps, you can search for suppliers or maybe get to know a professional in the same/similar field as you (despite being a competitor)who would be willing to provide you tips and tidbits on the particular type of business in the country. Networking will not only help you professionally, but also personally while adjusting into a new location.
6) Registration Process:Any new business in a new country will have to go through a registration process, be it a brick and mortar business or an online website. Registration and legalization vary from country to country and the process may take longer than it does in your home country. Get to know the relevant regulatory agency to contact and what it would take to license your business including the fees, costs, and other application details. You can usually find this information on a company or government website that will guide you through the process.