There are many ways to enter a foreign market. These include direct export, licensing, franchising, establishing a partnership (through a joint venture (JV) or strategic alliance) or acquiring a local business. As an alternative, you can also locate the production by setting up greenfield activities.
Various factors influence the optimal strategy, including the products / services provided to the market, local framework conditions, transportation costs, competitive landscape and availability of local partners and / or acquisition targets. In order to maximize your chances of success, it is important to prepare the optimal path to the market and to use local insights.
Creating a business and financial plan gives your business insight into the planned costs, risks and returns. Through early planning, you can minimize risks.
In order to define your optimal market entry strategy, an evaluation of the local legal framework is indispensable. This considers the specific business needs of your business, the industry in which you operate and the location where you plan your business activities. The assessment includes the identification of options related to various legal forms and the analysis of advantages, disadvantages, limitations and limitations in relation to them.
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