Monthly Archives: February 2009

Taking Your Business International

Posted by on February 20, 2009 Comments Off

Duke of York - World Economic Forum on the Middle East 2008
Creative Commons License photo credit: World Economic Forum

Q: I’m interested in doing business internationally. I have done some reading on the subject, but there is an awful lot to digest. Have you had any experience in this matter and can you suggest the best way to get started?
– P. Granger.

A: Great question, Mr. Granger, though not one I’m personally qualified to answer since I have not had direct experience with international sales. So like any good columnist without a clue I can either make up something and hope it sounds semi-intelligent or I can consult someone who really is an expert on international sales and let him answer your question. Since my agreement with The Times prevents me from fabricating anything other than my true age (I’m 29), let’s go with the latter.

I called on Jose Rodriguez, President of RISMED Oncology Systems, a Huntsville company that provides high medical technology to radiotherapy professionals around the globe, to get his input on the subject. Jose is an old friend and client and if anyone can give pointers on doing business internationally, Jose is the man. Read more »

Cross Cultural Solutions for International Business

Posted by on February 20, 2009 Comments Off

Blacksmith Exhibit
Creative Commons License photo credit: puroticorico

Globalisation, the expansion of intercontinental trade, technological advances and the increase in the number of companies dealing on the international stage have brought about a dramatic change in the frequency, context and means by which people from different cultural backgrounds interact.

Cross cultural solutions to international business demands are increasingly being viewed as a valid and necessary method in enhancing communication and interaction in and between companies, between companies and customers and between colleagues.

Cross cultural consultancies are involved in aiding companies to find solutions to the challenges cross cultural differences carry.

International and national businesses are ultimately the result of people. As with incompatible software, if people are running on different cultural coding, problems can occur. Cross cultural consultancies therefore concentrate their efforts on interpersonal communication.

Different cultures and cultural backgrounds between a highly diverse staff base brings with it obstacles, challenges and difficulties. Cross cultural differences manifest in general areas such as in behaviour, etiquette, norms, values, expressions, group mechanics and non-verbal communication. These cross cultural differences then follow on through to high level areas such as management styles, corporate culture, marketing, HR and PR. Read more »

International Corporate Relocation – How To Cope With It

Posted by on February 20, 2009 Comments Off

dsc01593
Creative Commons License photo credit: Mike Babcock

It is not just that ordinary people who work for others who are the ones that move, corporations and large establishments move too and not just within the country but to a new international location. There are many legal issues that you would have to handle to make this change and as most normal business houses do not have a clue about what is required, it is better to go to a corporate relocation firm who can give you all the information and the assistance too. If you go to a relocation corporate it will save you the trouble of making mistakes and you will be able to make the change from one country to another smoothly. This may cost you some money, but it will also save you from making some crucial errors that may cost you much more in the long run.

Know the regulations and laws of relocation Read more »

Financing Options for Entrepreneurs and Angel Investors

Posted by on February 20, 2009 Comments Off

Jim Antill
Creative Commons License photo credit: Logan Antill

There are many risks involved when Early-Stage companies begin seeking loans from a bank; however, in order to understand the risks involved, one must understand what a bank really is. A bank is defined as a financial institution that accepts deposits and channels the money into lending activities. The Federal Reserve regulates institutional banks such as Bank of America, Wachovia, local banks etc. Due to these regulations, banks assure fair lending practices, protection of assets for those who have deposited money with them, and rates that can be charged to a borrower. Most people believe that debt financing only comes from banks like this, or institutional lenders, and that equity financing comes from private or institutional investors. With Angel Investing, however, there are many ways to participate.

Private investors can provide capital in a debt vehicle. This allows private investors to play the role of a bank, but without the fiduciary restrictions of operating under Federal Reserve Regulations. Read more »

Finding a Private Investor For Your New Business Venture

Posted by on February 19, 2009 Comments Off

Startupbusiness meeting 1 - 09
Creative Commons License photo credit: david.orban

Starting up in business is tough so if you want to make it a success you have to posses the right attitude and leadership qualities; you need to be a confident and motivated entrepreneur.

To make a good entrepreneur there are certain qualities that you need to have such as the following:

• Be a good leader
• Self confident and organised
• Confident and a risk taker
• Good communicator and competitive
• Prepared to work long hours
• Provide a unique service or product Read more »

What Students and Parents MUST Know about Student Loans

Posted by on February 18, 2009 Comments Off

A student loan helps you get through college. Then you
come out into a high-paying career. It’s a great
investment in your (or your sons/daughters) future.

Student loans generally give you a good deal. You get
below-market interest rates, and you get a $2500 federal
tax credit on interest paid over any period of time
(previously first 60 months only)

It doesn’t matter if the student, or parent takes out the
loan; tax deduction remains the same.

* Did you know the federal government has a $50 billion
student loan program ?

Not surprisingly, the federal government provides the
largest percentage of student loans. Other student loans
may come direct from colleges, private lenders or state
governments. Read more »

Acquisition/Investment in Indian Companies by Foreign & Domestic Investors – Six Steps Mantra

Posted by on February 11, 2009 Comments Off

Kamal Nath
Creative Commons License photo credit: apesphere

Acquisition/Investment in Indian Companies by Foreign & Domestic Investors – Six Steps Mantra

Joint ventures, strategic alliances and acquisitions are the flavor of the day that enable fast growth focused companies to have rapid inorganic growth and expansion in new sectors. However, prior to engaging in a joint venture relationship or acquisition of an operating Indian company (“Investee company”), either by way of private placement, or secondary market, or subscription of substantial equity share capital, it is advisable for the Investor to carefully and stringently undertake the following six step mantra to avoid future surprises and heartburns:

(i) Due Diligence/Operations Audit: Extensive legal and financial due diligence of the Investee company is advisable to assess Investee company’s track record in compliance with Indian laws, statutory obligations and regulations applicable to it. The due diligence exercise (which usually takes between three (3) to four (4) weeks depending on availability of documents) not only enables the Investor to assess potential liabilities, evaluate unknown and potential, disclosed or undisclosed liabilities but also enables the Investor to assess the feasibility and viability of the proposed acquisition and rationalize enterprise valuation. If required, Investor can demand creation of an escrow account for safe deposit of a part of the acquisition cost, parked for an agreed period to mitigate against any future liabilities of the Investee company. Read more »

Finding Investors For Your Start Up Business Ideas

Posted by on February 11, 2009 Comments Off

Mi Cielo a la orilla del mar
Creative Commons License photo credit: teresawer

There has been a recent wave of websites and TV shows about people starting their own business and following that path from bright idea and individual entrepreneur to small business start-up and then potentially to multinational, depending on the product or service. But what kind of audience are they broadcasting to? Well, it turns out a lot of us Brits want to start up our own small business. According to Business Link, over 10 million of us would like to start up our own business at some point.

So the encouragement is there and let’s face it, a lot of us like to be the boss. However, the whole process is easier said than done. The people who took part in the survey were asked what the main obstacle to starting up their own company was. Many cited financial concerns, be it the current UK financial climate or perhaps their own overdrafts, mortgages and debts. How would they cope if they started, but couldn’t generate enough initial funding to keep it going? After all, they’ve got the idea, the business plan, the desire, and maybe even a few colleagues. But how do they find the right people? Read more »

How Do I Obtain Capital To Invest In My Business Start Up

Posted by on February 11, 2009 Comments Off

Hong Kong (www.viajar24h.com)-193
Creative Commons License photo credit: A. www.viajar24h.com

You’ll almost certainly need to raise money to start up your company, unless you already have sufficient capital yourself. The typical costs of starting up are in obtaining premises, manufacturing your product if you have one, buying materials, stock or equipment, marketing and fees for external consultancy such as legal help, accountancy etc. Then when you’re off the ground, you’ll need working capital to keep you afloat in the gaps between paying your own invoices and receiving payment from customer invoices.

Again, your business plan is essential at this stage of setting up your business. In it you will already have scoped out what your money needs are and how you plan to raise the capital, and you’ll be using it to persuade potential investors and lenders of the benefits of funding your company. Your financial calculations in your business plan therefore need to be thorough and accurate and presented with confidence.

Everyone expects that they’ll be able to stick to their plans and only need to borrow the absolute minimum, but more often than not something unexpected crops up to throw a spanner in the works. Read more »

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