GoGlobal Planning Series
Like any business decision, going global comes with risks, but so does standing still! So here are some organizational factors to consider before going global from Puerto Rico to ensure the best possible chances of success.
Commitment
First, the management team must have a genuine commitment to fund an international sales program and put in place the necessary staff to deliver increased production capacity.
Go-to-Market Strategy
You must decide upon a global sales structure and go-to-market strategy. Options include working via an agent, getting a distributor via a license agreement, establishing a partnership, setting up an overseas office, or through an acquisition.
Structure
When looking to grow your business internationally, consider whether the existing ownership structure is adequate or whether new external expertise is needed. Companies should also consider bringing in external expertise as key players to strengthen their organizational capabilities.
Scale
Evaluate whether your business’s economies of scale can be achieved, like reducing production costs as volume increases.
Costs
Consider the marketing cost of acquiring new customers and servicing customers in other markets. Your current business should get more robust and benefit from the expansion.
Investment
Companies should also consider whether they are prepared to bring in additional investors to strengthen the company financially. This decision could have implications for the ownership structure of your business, so it is important to consider organizational fit.
GoGlobal to Puerto Rico!
Competitive, exciting, and sophisticated. Puerto Rico is an ideal investment destination where economic innovation, pioneering incentive programs, and global strategic positioning converge with a better way of life. Newcomers to the island can benefit from 4% corporate tax rates*, access to high-performing human capital, and top-notch facilities minutes away from the world’s best beaches.
Finally, Puerto Rico can bridge the gap between two of Worldcom’s leading markets – North America and Latin America. In addition, Puerto Rico’s strategic positioning brings opportunities for the network to support global companies looking to expand to new markets, serving as a link between the United States and LATAM markets.
Many companies decide against exporting because of the uncertainties of going internationally. The good news is that there is we are here to help! We will work with you on systematically developing an export plan to avoid standard stumbling blocks before you start burning cash and missing opportunities. In addition, it will empower you to be confident that you are entering a new market with the best possible chances of success.
As members of the Worldcom Public Relations Group network, our Advisors have quick and unfettered access to the resources of more than 80 global partners in 50 countries and six continents to work together in designing and implementing impactful communications strategies for all key stakeholders. What’s more, we provide a fresh perspective, proven processes, and valuable tools to level the playing field for scaling companies competing against big-pocket corporations. Contact us to learn more about what our licensed Comms Advisor can do for your business and how we can help you Go Global!
DISCLAIMER: The content of this blog post has been prepared for information purposes only. It is not intended as and does not constitute legal advice on local or federal tax matters. The evaluation of applications to receive the incentives and benefits described here is subject to the dispositions applicable under the law and regulations. *Act 60-2019 Tax Incentive Code of Puerto Rico.
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