Why international expansion can turn into a real financial trapThe business idea has taken off, the product is booming, the customers are excited and even the sales are right. For many companies, these are the ideal preconditions for risking a move onto the international market. But watch out! Blinded by sheer entrepreneurial euphoria, those who forget that internationalization requires a considerable amount of preparation – particularly in the area of finances – can see their dream of global success rapidly turn into a business-damaging nightmare.
Businesses that leave the domestic marked need a well thought out strategy for dealing with foreign currencies, international tax rates and different billing requirements. What horror scenarios await companies that fail to adopt the correct strategic approach? And how can you successfully achieve cash management in hitherto unknown realms?
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