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If your company is well positioned in Russia or already serves a significant part of the market, you can expand your customer base by opening up new markets and taking advantage of the benefits that offers starting a business abroad. If you do a good job here, you will be able to use these internationally reputable clients as your calling card.
Content:
- Reveal your brand to the world
- Create an entry barrier for your international competitors
- Reduce operating costs
- Search for new technologies
Reveal your brand to the world
In order to value your brand and gain international recognition, it must be introduced to other markets. In the fashion world, for example, the opening of concept stores in major reference centers such as New York, Milan, Paris and London, or listing your products on marketplaces can increase your brand awareness and attract customers around the world. the world.
Create an entry barrier for your international competitors
You have news that an international competitor is interested in the Russian market. The best way to find out how he positions himself is to operate in the markets in which he operates. This exercise forces you to create a natural barrier for your competitor to enter Russia.
Reduce operating costs
If your company imports a lot of materials, equipment is expensive, or your workforce is very skilled and scarce in Russia, it is worth developing a study to establish a forward base outside the country where you can reduce your operational expenses. and improve its competitiveness. If you are already exporting, you may want to set up a division outside of Russia to reduce the same costs and improve logistics, reduce transport costs and be closer to customers.
Search for new technologies
When you work with innovation, you need to be close to the most innovative countries and research centers of the world to keep abreast of the latest discoveries in the field of research and developments. Countries that invest in R&D have tax incentives, a skilled workforce, and a very efficient trademark and patent regime for companies.
Do you know that your company can have multi-currency accounts? Right. If you are an exporter and want to reduce exchange rate risk, having an international bank account to pay and receive from international clients and suppliers in foreign currencies can help you reduce your vulnerability to exchange rate fluctuations ruble.
