There is a hidden advantage for businesses who localize new international offices. The localization creates local optics that your business has a global status in the heart of a city or town.
Before you localize your new international offices, it bears consideration of how to accomplish this business venture effectively and cost-effectively. Keep in mind that public image of your business has changed and gauge the effect the change will have on your local customer base.
Localize a New International Office
Now that the decision to embed new international offices locally has been made, there are four tips that help to make localization stable and less labor intensive. These include:
- Adequately staffing each new office
- Clear all legal matters locally
- Create business operations to meet needs of international time zones
- Make certain banking locally can manage international business transactions
To localize a new international office, the basic issues are founded upon balance between your local and international business obligations.
Adequately Staffing Each New Office
One-person staffing in a small office diminishes overall public impression. Understaffing becomes a problem should there be a void caused by absence. Also, an international office should include either a bi-lingual employee or an employee trained in language translation. Consider these options at time of hire.
Clear All Legal Matters Locally
Although your business transactions may be largely international, there may be local legal restrictions that impact daily business. For example, if your business is importing and exporting, you need to know municipal, state and federal regulations for the kinds of goods you are shipping or receiving. This also effects labs and food processing facilities where new international offices will manage global services.
Create Business Operations to Meet Needs of International Time Zones
Although your plan to localize a new office is established in your local time zone, international business transactions can take place in one of 24 time zones. This depends on the location of international customers and vendors.
For example, a New York City business transaction that takes place in Seoul, South Korea indicates a 14-hour time difference that may require late night or early dawn business transactions. The location of a new local international office should include radio remote controls for communication between the front end and the back office. This way you can keep track of everything that affects other businesses.
If the new local office location causes disturbances to normal city or town hours of business operation, international business operations should comply with local ordinances.
Make Certain Banking Locally Can Manage International Business Transactions
How the financial aspects of your business are managed by a local bank is important. Most local banks have the ability to keep up with international currency rates and maker currency exchanges if international customers cannot do so in their country of origin.
It is important to know foreign trade regulations. If this is not available, you might need to seek the services of a licensed foreign exchange service.
Localizing your new international offices is a part of business growth in a positive direction. Location, local ordinances, state and federal trade regulations, as well as good will between your business and the local community all comprise a successful future.