These days many businesses are feeling optimistic as the UK’s economy goes from strength to strength. That is why these companies are positive for investing in overseas expansion. Take a look at this infographic describing how to expand your business abroad.
As the infographic states, the government is offering trade support to UK businesses looking to expand into new markets. It is estimated that the average mid-sized business could increase its sales by 1.8 million yearly.
On the other hand, you should be aware of exchange rate risks such as invoices, intra-group transfers, and one-currency agreements. For example, when you are invoiced from an overseas company in GBP the foreign company will add on a healthy margin on the foreign exchange rate, leaving you out of pocket.
On top of that, the infographic outlines numerous useful tips about expanding your business. You should conduct prior research and also learn about the regulations.
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