Greater access to talent
Firstly, international expansion gives you access to more (and often, better) talent.
In our post-COVID business landscape, more employees than ever are working remotely, but there are still sectors, industries and trades that must be onsite.
And it’s entirely true that different countries are renowned for different specialist industries. Take Germany’s reputation for excellent engineering, Brazil’s expert software programmers, or Spain’s musical heritage. Why wouldn’t you want the best, whatever their location?
More often than not your new hires will be multilingual, and their local knowledge is one of the best ways to learn the characteristics of the local market, giving you another edge.
Access to new cultures brings new perspectives to your firm, along with new ideas and (possibly even) new solutions.
Every culture has a slightly different perspective; every nation looks at things a different way. Taking the time to understand new cultures – not just the way things are done, but why they’re done like that – can often highlight things that could be improved in your company.
New cultures bring new ideas, which can reinvigorate your company.
Foreign investment opportunities
Learning a new culture, a new location, means being on the ground and investigating. And usually, in the course of those investigations, you’ll come across at least one outstanding business with potential.
Investing in your own business is expected – what about investing in a complementary local business? This not only instantly improves your brand reputation, within and without your new locale, but also builds relationships and encourages your new community.
Investing in other local businesses give you additional income streams, and it lets the locals know you support them, you support the region, and you’re here for the long haul.