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The BEST Business Strategy to find Success in Economic Downturn

There has never been a better time than now to expand your business abroad. In fact, it’s the best business strategy you can take advantage of right now.

Though the recession has forced many business owners to close their doors for good, it’s also made it possible for other companies to emerge from thrive.

As you may already know, a strong global presence is essential if your company is going to survive in this economic downturn. If you’re looking for ways to expand your business outside of its original borders—and not just for the short term—but need a few motivators, here’s some advice.

Expansion is recession-proof, if done right.

Expanding your business abroad is a great way to succeed during the recession.

You may be thinking, “But isn’t that risky?” The truth is that expansion is recession-proof if done right.

It doesn’t matter what the economy is doing; if you can make it work in one country, you can make it work in another.

Be flexible. In the best-case scenario, you’re able to find new markets that aren’t being served by larger companies/business leaders and introduce them to your product line or services. You might even be able to make inroads into foreign markets that were previously out of reach due to their distance or language barriers.

The economic recession should not deter you from expanding abroad; rather, it serves as an opportunity for those who are willing and ready for change.

If any type of economic downturn occurs where one company takes over another company’s customers (such as when one bank buys another), then this may give you an opportunity to get into these new customers’ good graces by providing better customer service than before—and at lower costs!

In short, there’s always room for competition.

Maximizing the opportunities you have in front of you leads to greater potential.

The best way to maximize the use of business opportunities is to simply be aware of them, first.

A lot of people ignore business opportunities because it’s below them, it’s not in their vision, it’s outside of their scope—tons of reasons. But if you put in just a bit of effort, you can make the connections work.

Business opportunities include new markets, new products or services, and new distribution channels. You may want to take advantage of these opportunities to expand your business or simply diversify it by entering an entirely new market.

Next, after the awareness stage, determine if there is a way for your company to capitalize on those particular opportunities.

If so, then make plans for using them by looking into ways that will help boost cash flow like increasing sales volume through new advertising campaign platforms or product placement on local channels.

A well established and maintained offshore company can make your business run more profitably.

It also helps you to expand your market share in a cost effective manner. However, it is important that you know how to set up an offshore company before you actually make the decision of doing so.

In order to survive in this economic climate, small businesses need to find new markets and explore other areas of growth. One way to do this is by expanding your business abroad.

Moreover, even if there was no economic downturn in the country where you live right now, still it would be a better business strategy for you to expand your business abroad so that you could become more competitive.

You’ll have multiple revenue streams, an expanded customer base, and better security when any one place in which you operate starts to slow.

Offshore business operations are loaded with benefits…

An offshore company can help you reduce taxes, lower interest rates, avoid double taxation, and shield your assets from political risks.

You can also benefit from lower capital controls and exchange controls. Additionally, an offshore company may be able to reduce bureaucracy and corruption in the country where it is based. Who’d have thought!

With an offshore company, you could avoid labor laws that would otherwise restrict how much money you can make or impact your ability to hire workers in certain fields (like IT). It may also protect privacy: If you’re worried about the NSA spying on your communications or compromising personal data, then setting up an offshore account is a good idea.

Here are the short-and-sweet bullet points you’re looking for:

  • Reduce tax burden (like double taxation)
  • Avoid capital and exchange controls
  • Avoid political risk
  • Dodge economic downturns and financial crises
  • Safeguard yours and your consumer’s data and privacy
  • More automation (via proper metrics for supply chain initiatives, customer retention, etc.)

…and there are several reasons for deciding to set up a business overseas.

For example, you may want to use it as a base for marketing strategies or distribution. You may also see it as an opportunity to diversify your risk or spread the costs of production over multiple countries.

There are many advantages to setting up your recession-proof business abroad:

  • Tax advantages – You will not be liable for income tax on dividends paid out of profits made in foreign countries (although you will still have to pay corporation tax). In addition, there is no capital gains tax when selling assets outside of Britain.
  • Lower cost of doing business – Companies headquartered abroad can benefit from lower wage rates and lower business expenses than others, allowing them to offer cheaper products and services without sacrificing quality standards that customers expect. It’s cost-cutting at its finest.
  • Low cost of living – Housing, food, and other expenses are often much lower in other countries like the Philippines or Portugal. This can help reduce costs and make your business more profitable.
  • Minimal regulation – If you’re already running a successful business in your home country and want to expand, it’s often easier to do so by setting up a new office or subsidiary overseas than by trying to enter an entirely new market. This is especially true if your company has been around for some time and has built up a good reputation for reliability and trustworthiness. If you’re looking for opportunities in emerging markets, this can be especially useful — there will be less competition and fewer regulations.
  • Personal privacy – It is also possible to have personal privacy when operating from an offshore zone because there are no restrictions on how much money someone can transfer or keep in accounts abroad. This is one reason why people choose an offshore account over others like those at local banks or even private accounts at home because they want their financial information kept secret and safe from prying eyes who may use such information against them later down the line.
  • Business privacy – For business privacy, using an offshore account ensures that other companies cannot see what you do with your finances through monitoring all financial transactions carried out between yourself and other parties who have access to this information as well as other details about them without having any real benefit for themselves or others involved.

If none of that sold you yet, then this one will: security for the next recession. Recessions aren’t one-hit wonders. They happen semi-regularly. This business strategy helps protect your business without sacrificing the customer experience, customer loyalty, or consumer spending.

So whether it’s due to another pandemic or the great depression (again), protect your business by going offshore.

Don’t skip this!! Offshore business setup is 1000x more important than you think.

Want to get your business banned? We didn’t think so. But that’s exactly what happens if you don’t have the right infrastructure set up before going all in on the international scene.

Setting up business processes in offshore zones is important as it offers many benefits, most notably to minimize legal complications.

The first step in offshore business setup is to look for the right location and choose a country where you can get a good return on investment. The second step is to check if there is any government incentive available in the country where you want to set up your business.

But most importantly is finding the right offshore bank account and merchant account to support your business. When recession hits, you don’t want to “save” your business through layoffs or downsizing. You want to grow. Grow your business, your profit margins, your bottom line. We help make that happen.

Avoid the slowdown and speak with us today and get connected with an offshore account that backs what you do, wherever you want to do it.