Here are responses to clients' most common queties.
No longer constrained by national borders, companies of all types and sizes are entering the dynamic arena of international business. CPAs with small business clients will be confronted with questions on how to enter and remain competitive in the global marketplace. Here are some of the most common questions they will be asked - and the appropriate answers.
Q. What challenges should I expect if I decide to enter international markets?
A. The most significant challenge will be the increased cost of doing business. International business is an expensive undertaking that requires not only patience but also a substantial investment of time and resources. Other factors include time-consuming planning and investigation of financial, legal, production and marketing issues. Long-distance travel frequently is required and, in some circumstances, increased sensitivity to local business customs is necessary during planning and negotiation. Delays may be incurred because of differences in language, local laws and regulations, accounting and legal systems, business practices, currency, buying patterns and culture, among other things.
Q. How will I know if my company is …