As a retailer, you are constantly under pressure to expand. It's a race to add incremental sales, find new ways to sell seasonal stock and maintain existing store sales growth — all while adding new locations. Perhaps slow domestic growth is prompting your firm to look abroad. A well-executed international expansion can help on all fronts.
The upside to international expansion is practically limitless: you'll be introducing your products to new customers, mitigating individual market risk and building a global brand.
Still, the challenges are real: You'll need to understand the intricacies of new regulatory, social and political environments. Commercial, labor and employment laws are often unlike US regulations. Trade agreements, tariffs and tax laws are complex domestically, let alone in another language, under a different governing style. Cash management can be seriously affected by currency fluctuations and even payment methods can vary widely; in some countries wire transfers are the norm, where others require a local bank account to conduct transactions.
Radius can help simplify your international expansion. Our team delivers the experience and local knowledge necessary to ensure that your international business launches and operates efficiently. Radius ensures that financial and entity documentation, including tax and payroll returns, are filed on time and with the right authorities. We can also create a compliance calendar so you know exactly what documentation to prepare throughout the year and if there are any changes in filing requirements. Radius can even set up your payroll and accounting systems, and answer the bookkeeping, legal, HR and business operations questions that arise as you proceed.
Radius can help retailers and consumer marketers reach new opportunities and overcome the complexity of diverse international markets.