Ecommerce offers infinite marketing and sales opportunities for your business , the internet has traversed barriers in terms of trade but to successfully expand your sales to the European Union market it’s worth considering these key points:
Do you know why you want to expand internationally?
Overlook this simple question and you may incur unnecessary expense. Examine your reasons for international expansion. Is it because you want to extend an established international business? Are sales dwindling in your domestic market so you need to find a new customer base to maintain your current sales or grow? Both of these are valid reasons for international expansion but your strategy for capturing a share of the international market will be different.
Is your budget realistic?
Expansion incurs additional costs , international expansion necessitates you consider the additional factors of fluctuating exchange rates and the cost of logistics; greater distances to deliver your products will incur costs both in courier/postal services and time. Budget shortfalls are common during expansion. If you need more resources how will this impact on your domestic enterprises?
Do you understand your new market?
Extensive market research is essential for successful international expansion. What are your customers’ requirements? Are there local taxes and customs that you should know about? Who are your potential competitors? How will they react to a new seller? Knowledge of these areas, much of which you may take for granted in your domestic market, will ensure you avoid unforeseen costs.
Many of the questions above can be answered by using a one stop shop to provide back office services like DK Fulfilment. We will ensure you meet the UK and Europe’s legal and corporate requirements and let you concentrate on the marketing and selling of your product. Typical services provided to US companies wanting to expand into the UK and EU are: payroll, human resources, company and legal secretarial, virtual office and meeting and financial administration and reporting.