Taking your company global can be daunting, not to mention costly if it goes wrong. Equally though, the rewards from expanding into other markets and doing bussiness abroad can easily outweigh the start-up costs. But where do you start? Which country should you try doing business in first?
If you’re thinking about developing your overseas trade, but unsure of which market would be the best for your company, we take a look at some business opportunities and macroeconomic facts for some of the key global markets:
Ranked as one of the easiest countries to do business in, over 1,000 British business already operate in Australia. The country’s proximity to other countries allows for potential access to other South Asian markets.
Japan has one of the strongest eCommerce markets worldwide and is leading the way in the technology market – Japanese mobile users spend more on app downloads than any other country.
Both physically and economically, Brazil dominates Latin America, and is the 5th largest country in the world, both in terms of population and geographical area.
Potentially a less daunting prospect than investing in an emerging market, Germany is already Europe’s most industrialised country and boasts a strong domestic consumer market
As the world’s 2nd largest economy and a vital trading partner for many countries, China is an obvious choice for anyone looking to expand their business overseas.
The world’s 5th largest economy, and the 2nd largest in Europe, France already has over 20,000 foreign businesses already established – so it’s a great choice if you don’t want to take on too much risk too soon.