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Location

Posted on: 15th Jan 2015

Choosing the location for a business is even more important than the location for a home. Depending on the type of business, you may need access to motorway (freeway) and rail links, or to be located in a popular tourist area or near local attractions. Local plans regarding communications, industry and major building developments, e.g. housing complexes and new shopping centres, may also be important. Plans regarding new motorways and rail links are usually available from local town halls. 

Employees

            Hiring employees shouldn't be taken lightly abroad and must be taken into account before starting a business. You must usually enter into a contract under local labour laws and employees often enjoy extensive rights. If you buy an existing business, you may be required to take on existing (possibly inefficient) staff who cannot be dismissed, or be faced with paying high redundancy compensation. It's very expensive to hire employees in some countries, where, in addition to salaries, you may need to pay an additional 50 per cent or more in social security contributions, bonus months' salary, four to six weeks paid annual holiday, plus pay for public holidays, sickness, maternity, etc. 

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