Entrepreneurs contemplating forming a company may be focused on which state is best for business incorporation, but – regardless of where they operate – they should remember that the current economy calls for catering to a global market. The Financial Chronicle suggests all business types -from Fortune 500s to home-based companies – should be ready to sell overseas if they hope to see big profits.
While the internet makes this easier then ever before, there are still a number of cultural sensitivities that should be considered when preparing business plans for markets abroad. The source warns that Western European markets can be a false friend for American entrepreneurs as many U.S. executives fail to do the proper preparation because they anticipate the cultures will be similar to their own.
Online tools available in a series called "Culture-Guides-to-Go" can help business owners with cross-cultural training and global business planning. This resource might help entrepreneurs expand their enterprises without ever leaving their desks.
"Whether a multinational [corporation] or a startup business out of a garage, everybody is global these days," international consultant firm Dean Foster Associates’ president, Dean Foster, told the source.
In order to gain respect in local and international markets, business owners might consider business incorporation as a first step to success. Adding suffixes such as Inc. or LLC to a business name can boost brand reliability and help companies develop consumer trust at home and abroad.