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July 13, 2020
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An internationalization plan is not an extra aspect to be covered in the future, it is a competitive advantage over other startups that are seeking for investment.
You have probably considered the consideration of internationalization as a step to cover in the future. However, in this publication I tell you that it is something you have to foresee from the first steps of your startup.
Their approach is as essential as the financial one in your business model and will be useful in the investment round you are in.
Investors want to see some of your startup's numbers. So it's an aspect covered by most startups seeking investment for growth (¿have you already planned for it?) but very few have a solid, concrete approach to how they will expand abroad.
We would like to provide you with a series of tips to start planning the internationalization of your startup:
- Choose an attractive market for your startup's line of business.
- Investigate the treaties that exist between your country and that market. This way you will know the opportunities and competitive advantages you can obtain.
- Consider how you would like to expand: ¿Open a branch office? Find a partner in your target market? Provide the service from abroad? This will largely have to do with the most efficient way to make the most profit while incurring the lowest costs.
Conoce aquí las ventajas de expander tus operaciones a México!
- Regarding your choice, investigate the relevant contracts, service contracts, the incorporation process or mechanisms to avoid double taxation.
- Research which types of taxes you must pay and where you must pay them.
- Regulations in your target market regarding the use of data on digital platforms.
Remember that regardless of omitting mistakes and avoiding penalties, knowing these aspects will provide you with a strong leverage in front of your investors that will serve to keep more percentage within your startup.
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