Doing business overseas? Here is what you need to know

  • This article outlines key considerations when doing business overseas.
  • Expanding overseas presents great opportunities but it is important to do your due diligence.
  • The 'Vienna Convention' has been widely adopted around the world with 88 current signatories and governs matters such as formation of contract, governing law and dispute resolution.

Sunrise over edge of the globe

Your business is doing well in Australia and you've decided to expand your horizons overseas. Given that Australian imports and exports of goods were worth $256 billion and $270 billion respectively in 2014–15 (Austrade), it's no wonder that many businesses are thinking along the same lines.

It is important however, that you do your due diligence. Doing business overseas can be a great way of reaching a much larger audience but there are also pitfalls. What works well in Australia won't necessarily translate well into an overseas market. The following checklist will help you prepare to successfully do business overseas:

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