Doing business internationally.

Position:CPAs
 
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As the business world goes global, CPAs are advising clients more frequently on how to take advantage of opportunities to market their products and services abroad. Here are some steps a company should take before entering the international market.

CONDUCT PRELIMINARY MARKET RESEARCH

[] Obtain information about foreign markets from the U.S. Commerce Department's National Trade Data Bank.

[] Get a list of potential foreign buyers from sources such as Export Yellow Pages, Commercial News USA, National Export Offer Service, Trade Compass and the Internet.

[] Prepare a market factor assessment of the economic, physical, demographic, social and cultural conditions in various areas, and look at market access and product or service potential.

[] Contact the U.S. Census Bureau for information and services it provides.

[] Explore options for promoting the product or service on the Internet.

[] Do some research on the World Trade Organization and on trading agreements.

[] Learn about the provisions of the North American Foreign Trade Agreement (NAFTA).

PLAN THE MARKET ENTRY

[] Prepare a broad-based international business plan.

[] Choose a market to target.

[] Obtain phone books for the targeted market.

[] Study the business etiquette of the targeted region (manners, socializing, gifts and the acceptance of women in business).

[] Plan travel to the targeted area through a travel agency with knowledge of the region.

[] Brush up on necessary foreign language skills.

[] Obtain the required visas and travel documents.

[] Select a trade show to introduce the product or services using the U.S. Department of Commerce, Gale Research's Trade Show Worldwide or the Expo Guide Index.

[] Get ready for the trade show by preparing a budget, designing the demonstration booth and program, preparing price quotes, scheduling personnel, making travel arrangements and getting custom clearances.

ARRANGE FOR DISTRIBUTION

[] Assess whether the most cost-effective and efficient...

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