Michigan Job Resource

Internationalization Plan

9 advantages of hiring freelancers

by Catherine Jimenez

If you're wondering why hire freelancers , here are some specific advantages of doing it. Joining this booming trend can be extremely beneficial for your business.

1.Improved work quality

Freelancers must do quality work to retain their clients. With the abundance of supply, the competition between these types of workers is high. While the performance and productivity of your full-time employees may have ups and downs, freelancers strive to provide the best services .

Especially since your contract is subject to renewal in the vast majority of occasions. This also gives you the opportunity to be very selective to ensure that you only choose the best.

2.Easy recruitment process

You can find IT staff, designers, marketers, translators, consultants, copywriters, accountants, and various other professionals doing freelance work. The hiring process is quick and reduces the cost of a traditional hiring process that is often time-consuming and expensive. Once you find the right freelancer and the terms of the job are agreed, the project can start as soon as possible.

The costs that your company must assume are much lower due to the reduction of the usual procedures and paperwork to hire an internal worker. This is one of the best benefits of hiring a freelancer .

3.Lower cost

Say goodbye to paying your Social Security, your training, your vacations, medical insurance against work accidents and you don't even have to pay compensation for termination of the contract.

If you have employees who work remotely, you reduce the costs of running an office and maintaining staff. Unlike a full-time employee, a self-employed person is not entitled to certain employee benefits.

Your company will be able to save on work materials, such as the computer, furniture, electricity and other derivative expenses. Plus, as you already know, you also save yourself from paying payroll taxes and workers' compensation benefits.

4.You pay what you buy

Freelancers can save your company money because, unlike a full-time employee, you are only paying them for the work they do . Internal employees are a financial investment that far exceeds your salary.

This is one of the great advantages of hiring a freelancer, the cost is only the actual project for which they are hired. One of the most profitable business decisions today.

5.New vision and up-to-date with innovations in the sector

Freelancers can often help you see the solution to a hurdle in a project. They manage to bring a new vision, new working methods and renewed ideas that can be beneficial for your company.

In addition, the freelancer generally tends to be more innovative, as they have to stay ahead of the curve to get new clients and retain existing ones. They are fully up to date with current trends, technology and concepts.

6.You can save time and increase productivity

The more efficient each individual is at completing their work, the more efficiently your business will operate as a whole, which means you can maximize productivity and minimize wasted time.

These types of workers are more motivated than full-time employees, they work for challenges and they want to do well to be rehired.

7. No geographical limits

There is also no geographical limit. You can gain access to experienced professionals around the world as they can work from anywhere. By having internal employees of the staff it is necessary to find a specific profile in the physical place where your company or business is located.

Therefore, they do not need to come from or move into a certain area. This gives your company a global reach when it comes to choosing talent for the necessary tasks.

8.Reduction of assumed risk

The fact that freelancers are not technically employees greatly reduces the risk they can pose to your company. They are relatively easy to fire if they are not performing their work to your specifications and expectations. When you trust traditional employees, you are "hooked" on so much more, like severance pay.

9.Less responsibilities and supervision

Your company may be much more carefree when it comes to responsibilities because freelancers often require a low level of supervision. They have likely done numerous jobs and know how to tackle a project quickly and intelligently with little support. After all, your livelihood depends on it.

What is an internationalization plan?

by Catherine Jimenez

The Internationalization Plan for companies is a document that includes the business expansion strategy in foreign markets. This is usually prepared when a company is consolidated and wants to improve or start internationalization.

It is a detailed roadmap that establishes the objectives, markets, products and actions that must be taken throughout the process. It helps to minimize risks, but requires a thorough study of the environment, the company and the market to which you want to expand.

It can be divided into two parts: the investigation and the development of the plan. The more exhaustive the analysis, the more security it provides in decision-making.

In short, the internationalization plan is going to be the roadmap of your business. The way to undertake the adventure of expanding the company to other countries. It will tell you what capabilities you have before starting to act in international markets, which areas show potential and interest in your sector to evaluate, it will define where to go and how.

Advantages of internationalization for SMEs

The benefits of internationalization are numerous, that is undeniable, both for large and small companies. It is true that it is a challenge, different and unknown, but at the same time it can attract great opportunities.

In fact, there are many companies that in recent years have taken this step in their business strategy, seeking to get out of a collapsed domestic market. These are some of the main advantages:

  • Grow in the medium and long term, allowing a considerable increase in growth.
  • To better cope with crises thanks to the fact that it allows to diversify income in times of economic crisis.
  • It allows you to expand your client portfolio and reach a greater number of people who fit into your target audience.
  • Increases productive capacities since competitiveness is increased to be able to highlight the products or services offered.
  • Strengthen the brand . In fact, consumers have more confidence in international companies.

Risks of internationalization

In this process the advantages are numerous, but it also has its risks. It is not possible to consider preparing an internationalization plan without taking them into account, since it is important to assume the difficulties that may arise during expansion.

The most common are cultural barriers that can pose a problem, either because of the language or because the product is not well focused on the culture of the country. Another of the important ones are the logistics barriers, a key point for the distribution of the product and they are conflicts that must be resolved on an international scale.

In addition, it should be considered that the selection processes are more complex , requiring a more experienced team to achieve the expected objective.

Legal aspects to internationalize a company

Considering the legal aspects is essential. These will depend and vary depending on the type of activity, the sector and the regulations in force in the foreign market. The most common and general are:

  • The regulations established by the World Trade Organization (WTO).
  • Consider the internationally accepted collection methods agreed to make your exports.
  • Know the Tariff Law and the rules that influence international trade operations.
  • Have a professional who knows well the taxation of the country where the company is going to expand.