Also in the news...
Countering sanctions evasion: guidance for freight and shipping
For freight forwarders, carriers, hauliers, customs intermediaries, postal and express operators, and other companies facilitating the movement of goods.
International Compliance Tips for Entrepreneurs Going Global
While expanding across borders can accelerate business growth, it also raises the stakes when it comes to staying legally compliant.
Cutting Administrative Burdens When Trading Abroad
From customs declarations to inventory tracking across borders, the paperwork and compliance requirements can quickly become overwhelming for growing companies.
Temporary agreement between the Swiss Confederation (Switzerland) and the UK on services mobility
Temporary agreement documents and the exchanges of notes extending the agreement.
Decision. UK-Central America committee documents
Decisions, documents and meeting minutes from UK-Central America countries committees.
What’s the Bottom Line? Introducing Winning Globally Chapter 4
In July, we released the first chapter of Winning Globally: A Playbook for International Expansion Teams, by Radius’ Vice Chairman, Larry Harding.
The eBook draws on Larry’s 15 years as a global financial executive and his 11 years at the helm of High Street Partners, the business he founded in 2003, to guide readers through the elements of a successful expansion. Today, we’re releasing Chapter Four, “What’s the Bottom Line?” on how to budget for an overseas expansion.
Chapter One of the e-book, “Stay Local or Go Global? Eight Indicators the Time May be Right for International Expansion,” outlined the decision-making process executivesmust go through to determine whether, and when, to begin operating overseas. Chapter Two, “195 Countries — Where To Go First?” surveyed the factorsexecutives must consider when deciding where in the world their business should expand. Chapter Three, “Who's on the Team?” addressed how toassemble a group of leaders to spearhead the expansion. Chapter Four takes on the first detail-heavy step in the journey: the budget.
The chapter provides a one-stop introduction to budgeting for international expansion: a more complicated process than you likely expect.It reviews expense categories that surprise many executives expanding abroad for the first time — like foreign taxes that may be unfamiliar and fees associated with entity setup.Wondering how much tax, labor and land will run you in London or Singapore? The chapter also runs down the overall budget pictures for popular expansion destinations in Europe, Asia and Latin America.
Finally, Larry gives you a head start on your own budgeting process with a ready-made checklist of expense categories that will help minimize surprises later on.Subsequent chapters of Winning Globally will cover additional steps to getting up and running overseas. Stay tuned for more.
To hear more from Larry, download the previous chapters of the Winning Globally eBook, or listen to his recent Winning Globally webinar.
By Martha Gallagher, Senior Manager, Content Marketing & Communications