Be aware of different timelines and building relationships
As the saying goes, ‘Rome wasn’t built in a day’, and your cross-border deal won’t be done in a day either. Often international negotiations can take time, particularly when deals are taking place across differing cultures and time zones, so a speedy resolution is not always possible. Some transactions can move relatively quickly, however building long-standing relationships is key to business and it’s well worth the time investment to develop and nurture those relationships to foster trust and loyalty.
You should also be aware that every country has their own way of working. In Chile, personal relationships are essential to doing business, so introductions from banks and consulting firms may be the way into negotiations. In France, business is conducted much slower with strict adherence to hierarchy and protocol. In Argentina, meetings are more for discussion and exchanging ideas than making decisions. In Poland, personal relationships must be built to establish trust, and it’s best to make initial contact through a third party.
Having local knowledge and understanding is essential when looking to cross business borders. Not only can local third-party providers offer guidance and advice to help you navigate the complexities that come with investing internationally, but they can provide valuable introductions that bring you (and your business) instant credibility. And, this instant credibility can also help with your ongoing business – with creditors, suppliers, and even regulators. Local partners are also on the ground in the same time zone, allowing for greater responsiveness, and they speak the local language, meaning communication is seamless, and will be able to quickly identify and solve any potential barriers.
With more than 350 employees located in 22 countries through Europe, Latin America and the USA, Auxadi is the best choice to help with your international expansion. We also have a strong affiliate partner network, meaning we can service clients operating in over 50 jurisdictions across the globe.
Our teams are experts in their home regions. Experienced and knowledgeable, they know how business works in their country – they understand the intricacies of local laws, regulations and tax regimes, they can offer advice and guidance, conduct your meetings in person to help bring success, and are on hand to offer support at any point during a deal transaction. Our experts have solid relationships and a strong reputation with local lawyers, regulators, banks, suppliers, and auditors. We’ll coordinate directly with them, leaving you free to strategise and drive growth for your business.
And, once your deal is done, we can help with domiciliation and provide experienced local directors to help guide your new business in every board meeting. After launch, we can take care of your accounting, tax, and payroll management, which you can monitor in real time using our unique and purpose-built cloud-based IT platform.
Auxadi has over 40 years’ experience in helping business across borders.
Get in touch to see how we can make your life easier.