We have been dealing with mutations and aftermath of a Pandemic for many months now. Let’s face the reality, Covid19 is here to stay for a foreseeable time. Hindering or postponing operations can only be short term not a wise choice in long term as anyone else, we all need to accept the reality and terms of the New Normal. While there are industries and companies who got hit badly, there are organisations who thrived through the pandemic, inventing and reinventing products and services or be it internal processes. If Covid19 cannot be eradicated any time soon, and if businesses have to operate as usual, how should we handle our overseas expansions is a decision that has to be taken with careful consideration. Here are few areas to consider when making a decision whether it is the right time to go global.

Stay alert to how they manage the pandemic

Many countries faced severe consequences including developed countries like the UK and USA. Certain countries managed to curb the growth from early stage, certain countries tackled the worse stages differently. It is important to understand the resilience of the people within the country and how the government, middle class and the economy stabilizes in and out of the pandemic.

Monitor trade trends

Watch out for the countries that show an economic growth during these few months. Understand how the growth occurs whether it is an event base growth or if it is a sustainable growth. Have a few trustworthy sources to monitor these identified countries regularly to track the changes and approaches taken to manage the growth during this period.

Steady infrastructure is a must

It is extremely important to evaluate the state of infrastructure within the country and monitor the progress of plans on major infrastructure changes that might take place within the near future. Is there a good transportation system in place, ground transport and logistics to be in a state to ship goods? The state of airports, distance to travel within main cities to airports are important areas to consider.

Having the correct cost structure in place

While certain companies outsource services from other countries, some may directly invest to market products, while some companies would invest in low cost labor or production facilities. It is important to understand the cost structure that could take place with inflation and other economic conditions in long term and forecast results.

Recruit the right employees

When going global, one of the key things to focus on is global competence. Whether it is for marketing, sales or customer service; having employees who can cater to the requirements is everything. It is important to map the global competencies that is needed before hand with skill sets and look at recruiting the ideal profiles that would suit the job and company.

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