How to open a branch of a foreign company

Opening a branch of a foreign company on your own will allow you to develop a network of contacts and increase business efficiency. But it is also necessary to take into account the differences in mentality between countries, which is often not an easy task.

Instruction manual

1

The most important concept for business is profitability, profitability. Will there be potential buyers of a foreign company in the city planned for the opening of the branch? Is there competition in the industry? What is the value of real estate? How soon can you find qualified employees. The answers to all these questions remain to be found and, taking them into account, a detailed business plan should be drawn up.

2

With the opening of the office you can solve an important problem - the difference in time zones. Of course, it cannot be completely eliminated. But a couple of big watches, showing the time of the branch and head office, will allow you to better navigate in urgent situations. This method is common practice - many hours with the inscriptions: Tokio, New-York, London can be found in banks, on stock exchanges, etc.

3

Translation difficulties are a major constraint to business expansion. This is not so much about the problems of personal communication (although about them too), but about the problem of reporting, team work of employees, exchange of accounting, etc. Qualified translators (who can be found on a piece-by-piece basis, for example, on the FL.ru website) and lawyers in international law will help to solve this problem. The latter can be found at the bar associations of large cities or in professional social networks (Linkedin, Professionali.ru).

4

The solution to the problem may also be finding a leading manager who worked in the country of the “head office”. A large "range" of qualified specialists is available on the e-xecutive.ru project.

5

Foreign representatives have a lot of problems with evaluating the work of Russian offices. In our country the corporate culture is still not so developed (with quarterly reports, the board of directors). The assistant in this aspect is openness. If you manage to make your system of work, communication with clients, principles of marketing and advertising transparent for your foreign partners, your branch will be able to receive the support of both managers and shareholders.