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Perspectives

Letter and spirit of compliance: Qualifying to do business

Global considerations for mid-market companies

Expanding into global markets can offer companies of every size opportunities to diversify their operations, reach new customers, and tap into new sources for materials and talent. The articles in this series focus on international expansion issues that mid-market companies should address as they consider growing globally.

Letter and spirit of compliance: Qualifying to do business

No reputable company sets out with the intention of violating local country rules and regulations. But in the global corporate landscape, obeying the rules is seldom simple, and satisfying this requirement takes more than good intentions. It takes a deliberate investment in research and counsel.

Knowing the lay of the land and region you are operating in encompasses local knowledge of people, authorities, customs, and the local suppliers and other business partners who operate under the same set of regulatory conditions. For example, understanding various fee requirements, agencies that administer them, how, and when is important, especially when import-export authorization is involved. Failure to adhere with customs regulations might place a company’s entire value chain in limbo.

For companies considering international expansion, the hard work of understanding and adhering to legally required qualifications can remove business roadblocks and help set a path toward success.

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