The COVID-19 crisis was a tipping point of historic proportions for digital adoption. The world saw many years’ worth of digital transformation in just a few months. The resulting acceleration in the use of technology, digitization and the rise of remote work has brought about the fourth industrial revolution. The barriers to entry to international markets are reducing, economic gaps are closing, and access to global resources is becoming more democratized. The ambition and passion of Indian entrepreneurs finally have a global outlet and can successfully reach the US and other markets in a way never before seen.
So, What’s next?
This is a question that every successful business works toward, and more often than not, the answer is global growth. However, scaling to a global market is still not an easy task, no matter the size of your enterprise or coffers. In most cases, companies that want to expand to the US and other global markets need to spend considerable money and time in order to do so. More often than not, the CEO or executive team may have to physically fly to the country to set up a bank account, legal entity, and payroll just to employ a few people. The process can take up to 6 months and isn’t always successful.
Even if a company is able to set up DIY operations, they are confronted with the cold start problem of entering a market for the first time: no trust, traction, reputation or customers. It can take years to achieve sustainable growth in a new market. But overcoming the cold start problem is not something they have to do alone. There are local partners that can help Indian entrepreneurs enter the US and other global markets in a matter of weeks while handling all aspects of business establishment overseas. From providing legal advice or assistance, handling all the infrastructural requirements to talent acquisition, or even making connections to high-level government officials, mentioned are the dedicated organizations that help enterprises expand their business abroad.
In alphabetical order, they are:
1) Alariss Global
A one-stop-shop for entering a new market, Alariss is the first solution that helps increase revenue and leverages the potential of remote work not for outsourcing but for team expansion. The company serves entrepreneurs from emerging economies who aspire to move their enterprises to America. Alariss makes execution easy by recruiting and building the go-to-market team, then serving as the American Employer of Record (EOR) by handling compliance, payroll, and health insurance, with the core focus on the vetted and curated American sales talent.
Alariss Global is the first tech-enabled global expansion marketplace. Founded by Harvard and Stanford grads with expertise in diplomacy and growth, the brand is located in Silicon Valley and is your one-stop solution to launch and flourish your business venture in the US. Alariss has a vast and diverse clientele comprising the fastest-growing and most ambitious international companies on every continent looking to set up a presence in the US. Through Alariss’ platform, Indian startups can recruit their US country manager and sales team, provide benefits, account for local regulations and taxes, and also search for a suite of other solutions, including banking, legal, accounting, and office rental, in a matter of days.
A pioneer in a new movement, Globalization 3.0, where talent is hired globally, Alariss believes that the future of work is global.
The establishment of a business in a new country generates a requirement for numerous job opportunities. An enterprise that wants to venture abroad would need a dedicated and efficient staff to run the operations from overseas. Staff sourcing and hiring is a consequential step for your company that needs to be taken with caution to reap maximum benefits and success abroad. Indeed is a recruitment platform which is a renowned name in talent acquisition and employee sourcing.
Indeed is an American employment portal which was established in 2004. The recruitment portal allows entrepreneurs to hire the best talent available internationally. Indeed also allows job seekers to connect with multinational firms that intend to hire global talent. The site aggregates job listings from thousands of websites, including job boards, staffing firms, associations, and company career pages. Indeed is one of the versatile job portals to assist your business in sourcing the finest talents worldwide.
Small and Medium Enterprises (SMEs) are the foundation of any country’s economy, and in India, they make up 30% of the nation’s GDP and employ more than 11 crore people. At present, SMEs mainly serve the Indian consumer, but the sector’s next frontier of growth lies in exports. SMEs have the potential to help India realize its goal of being a $5 trillion economy, but SMEs are limited by resources, time and capital that may hinder their global aspirations. This is where B2B eCommerce platforms like IndiaMART can help.
With 154 million buyers, 7.2 Million Suppliers and 86 Million Products & Services, IndiaMART is India’s largest online B2B marketplace. With 60% market share of the online B2B Classified space in India, the channel focuses on providing a platform to Small & Medium Enterprises (SMEs), Large Enterprises as well as individuals. Founded in 1999, the company’s mission is ‘to make doing business easy’. The company provides a service called IndiaMART Verified Exporter for expanding your business around the globe. This service can be purchased by IndiaMART clients who want to conduct business in the import-export domain.
Strong networking with affluent and seasoned professionals can be a boon for any enterprise aspiring to move abroad. A sturdy grid of professional connections can help a business to prosper in multiple dimensions. LinkedIn, the world-renowned network of professionals, provides opportunities for various conglomerates and professionals to connect with each other.
The platform paves a path for numerous opportunities for individuals who aspire to grow professionally by introducing them to great career options. Enterprises that look forward to growing their businesses overseas can harness a lot of benefits from convenient access to the premium professional networks available on LinkedIn.
5) US-India Business Council (USIBC)
For a company entering a new market, networking may help foster friendships, understand the market challenges, make industry acquaintances, and even business partners. When such networks are made, it helps businesses understand sustainable practices and unlock new avenues of growth. One organization that can help large enterprises build networks of immense value is the US-India Business Council (USIBC).
USIBC facilitates meetings between members and key policymakers in the US and Indian governments, as well as offering introductions and networking opportunities to entrepreneurs within their membership. They serve as the voice of the industry, link governments to businesses, and support long-term commercial partnerships that will nurture the spirit of entrepreneurship, create jobs, and strengthen the US-India partnership as a force for global good.
Formed in 1975, the US-India Business Council connects the two largest democracies in the world and inspires sustainable solutions to local and global business challenges. The US-India Business Council is part of the US Chamber of Commerce, which believes in the power of free enterprise for the happiness of people, not just in the US but all around the world.
6) Zoho Books
Efficient management of finances plays a vital role in the success of any business. Financial management becomes crucial when an enterprise plans to move overseas. Managing finances internationally can be time-consuming, tedious and challenging due to numerous factors like legal implications, tariff policies, procedural surcharges etc. A well-managed account and finance portfolio can ensure the success of a business on foreign soil. Zoho Books is a finance management platform which takes care of all the fiscal and monetary records of the companies.
Zoho Books is a comprehensive cloud financial platform that provides solutions in areas like core accounting, bank reconciliation, stock trading, managing fiscal projects, managing workflow etc. With effective maintenance of your enterprise’s audit trail, invoices, sales & purchase orders, banking etc., Zoho books ensure minimal to zilch discrepancies in your firm’s financial records, thereby paving a path for uninterrupted growth in the overseas markets.
Globalization has interconnected the economies of the world. Companies in contemporary times want to venture ardently into international markets. Establishing businesses abroad is a lucrative option to add surplus to the profits generated. The mentioned brands have immense potential to assist an enterprise in setting up global operations. Especially brands like Alariss Global, which are a one-stop-shop for all operational requirements, from talent acquisition to compliance, the overseas establishment of enterprise has become both convenient and immediately rewarding.