Featured photo by Fernando @cferdo on Unsplash
There has never been a more opportune time to go global with your business. In this article, we explore three cutting-edge ways you can transform your small business into a multinational enterprise.
Take Advantage of the Opportunity Before You
Despite the confinement of lockdown, certain changes to the way that we’re working and adapting are unlocking new opportunities for global interconnectivity.
And with many major tech companies going remote for the foreseeable future—some even for good—business is no longer tied to location.
This is an opportunity to broaden horizons, cross borders, and reach out further than ever before. With that in mind, here are three innovative ways to go global with your business.
1. Hire Remotely from a Multinational Pool
Businesses are currently asking workers to work from home where possible. In fact, many are now finding that they’re actually flourishing. This is even true in cases where entire teams work remotely.
As this becomes the new normal, it begs the question: How far can we take remote working?
As companies cease to rely on in-person communications to operate, hiring remotely appears significantly more appealing than it once might have.
Opening up vacancies to remote candidates allows you to bring in top talent from across the world. And when you do, their fresh perspectives and unique understanding will open up new possibilities for your business, possibilities that might never otherwise have been available to you.
Of course, it’s easy to be put off by potential complications when it comes to balancing international payroll. But you’ll find multiple resources online to help. For example, the staff at the Belgian firm SD Worx are experts when it comes to navigating tax and payroll across territories.
2. Reap the Rewards of International SEO
Search engine optimization (SEO) is the process of ensuring your business is high up on the ranks in Google listings.
And international SEO enables you to do this for overseas customers.
Whether or not you currently have a strong SEO strategy, specializing for an international market will really boost your online presence for potential consumers abroad.
So where do you start? With your website, an international domain can help broaden your reach.
Additionally, invest in a translator who can adapt your website content. It would be a mistake to assume that your potential customers will use Google to translate your web page. In fact, forcing them to do so would be an instant turn-off.
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You should also think about how to adapt elements such as content, branding, products, and services to better suit your target market. Cultural norms will vary, and what’s effective domestically won’t necessarily appeal to international consumers.
3. Gain Citizenship by Investing
Residency/citizenship by investment schemes has opened doors to investors across the world when it comes to business opportunities.
The Golden Visa Program in Portugal is a prime example. This program invites international citizens to invest in the Portuguese property market. In return, the investor is granted a residency permit in the country. This can later lead to citizenship.
This permit grants the holder a number of fantastic benefits. For business people, this can include new working opportunities, the chance to be based abroad, and better tax arrangements.
Since Portugal is also a member of the European Union, Golden Visa holders may also enjoy the trade and travel opportunities that come with it.
And of course, there are personal benefits to this, too. Portugal is a beautiful place to live, with warm weather and stunning scenery.
And with a diverse selection of properties as showcased by Property Lisbon, this could be a chance to go global in more ways than one.
There you have it. A hat trick of ways to go global that can help you score your business growth goals.