First, I want to say that there is a lot of bad advice out there on the topic of international business expansion. Anyone offering advice on you and your business with little information cannot give you a proper answer. There cannot be a yes or no answer from an internet page. Additionally, we all know that what is good for one business is not always good for another. And, that is why there is not a straightforward answer to your question.
Instead of giving an impossible yes or no answer, I will list a few items to consider before making any big business expansion jump. Since your question did not include your current stage of business in Australia, some of the considerations that I am listing below may feel unnecessary. That’s fine, just skip over those.
Top Considerations for Business Expansion to Either Country:
- Do you plan on conducting business operations from the US, UK, or AU? If you plan on moving, even for a short time, you must research and consider visas with either country. This includes types, requirements, time periods allowed, etc.
- What is the cost to incorporate in the US or UK? You will need a proper business license and US or UK incorporation in order to do business in either country. Is the cost worth it? Or is it a small price to pay for a big business opportunity?
- Will any part of your app or platform require patent protection in either the US or UK? There are a number of free tools you can use to check to see if similar patents already exist.
- What is the competition like? Have you fully researched and considered the competition, if there is any? This is vital to ensure that your business has the possibility for success with this expansion.
Deciding made an international business expansion move is an exciting step for any company. Listed are just a few items that I think are important to think about before making this huge business decision. Whatever you choose, I wish you success! If you’d like to speak to a seasoned attorney on any of the legal issues you may encounter with your expansion, feel free to reach out to my company LawTrades for assistance.
Hope this helps!