An international business company or international business corporation (IBC) can be regarded as an offshore company that has been formed under the laws of specific jurisdictions as a tax-free company which does not have the permission to engage in business within the jurisdiction it is incorporated. But if you’re doing business internationally, as so many of us do in today’s interconnected world, there’s another set of standards your financial bookkeeper and part-time financial controller should know, as well: The International Financial Reporting Standards.
If you’re a business owner or the CEO of a firm, you may want to improve yourself personally and your business or organization, professionally. The world is becoming smaller day-by-day and therefore, managers involved in the international businesses will have to become more sensitive to the challenges emanating from the cultural and ethnic landscape of the countries they work in.
If you’re seeking international investment capital, plan to acquire companies or do business with companies overseas, or are selling your goods and services internationally, you’ll want a bookkeeper who can, when necessary, use IFRS standards for your small business bookkeeping.
Many of the international business experts argue that exporting is a logical process with a natural structure, which can be viewed primarily as a method of understanding the target country’s environment, using the appropriate marketing mix, developing a marketing plan based upon the use of the mix, implementing a plan through a strategy and finally, using a control method to ensure the strategy is adhered to. This exporting process is reviewed and evaluated regularly and modifications are made to the use of the mix, to take account of market changes impacting upon competitiveness.
If you are traveling overseas and have not joined a club, see if you are eligible for one-time use of a club in an international airport. Firms specializing in international business development can help jump-start foreign expansion. Major considerations in selecting a distributor are: willingness to assign a dedicated resource, market leadership or track record, marketing savvy, complementary and not competitive products or services, site inspection, and financial stability.