Steps to undertake”, “How to undertake”, “Why undertake”, these are just some of the headlines that can be found on numerous websites that seek to help those interested in entering this world.
Why has it become so important to share this kind of knowledge? Well, because in recent years many people have begun to gain interest in starting a business. Some have money but no knowledge or vice versa; others want to start a business in their hometown while some want to expand their horizons in other lands. Everyone decides to adjust to their reality…
Why undertake in another country and why is it so difficult?
There are various reasons why someone would decide to undertake in another country. Maybe you just like the place; but it is also likely that the business you want to start is illegal in your country of origin (for example, the cannabis trade) or that the amount of taxes to be paid in the chosen country is less. In the same way that entrepreneurship is a personal decision, the reasons for doing it and where to do it are also very personal and vary from person to person.
We must remember that if making the decision to undertake is difficult, undertaking abroad is much more difficult and a lot of security and trust is needed. Doing business in another country is based on completely adapting to a new way of thinking and a new culture; however, the results you can get from this are very good.
Usually, those who undertake business in another country do so because they have already managed to carry out business in their country.
Things to keep in mind when making this decision:
You are entering a new world and therefore, you must make sure that you go with as much knowledge as possible about everything:
Learn the language
If you are making the decision to go to a country where they speak another language, it is necessary to learn their language in order to interact effectively. It is not recommended to use intermediaries in your first steps in this country; therefore, you should personally take care of everything from the beginning.
Would you like to close an important deal without understanding what you are doing? No. Therefore, take the challenge of learning the language and start your journey.
Do not assume that everything works as in your country, each country is different and has different rules. The worst mistake you can make is trying to do everything you used to do exactly; seek advice regarding laws and taxes… It is imperative to find a professional who understands where you come from and what you want to do in the new country.
Thus, you will not have problems and it will be easier for you to understand everything that is happening.
Join the community and meet native entrepreneurs
There is no better way to get to know a country than to get to know its people; for that reason, for a foreigner who decides to strive in lands that he does not fully know, it is an advantage to have known people in said place.
There is no better way to understand the movement of the entrepreneurs on the site than by talking directly with them and you will not understand what the people of said place want or need if you do not know them either. Integrate into the area and worry about knowing your environment and that of your business.
Take into consideration the situation of the country in which you are going to invest
The decision to hire business set up companies in UAE can never be taken lightly; therefore, if you want to be successful you must take into consideration every little thing that comes your way. Not necessarily because you like a country, this is going to be the best option for your business.
It is unlikely to make money in a country with a bad economic situation and it is not highly recommended to enter a place with a politically tense situation. Who wants to be caught up in a coup? No one! Study the economic, political and cultural situation of the country and make sure you choose the best option for your business.