John Cromie, chair of the Corporate and Business Law Group at Connell Foley, recently spoke to New Jersey Business Magazine regarding challenges facing small and mid-sized businesses as they seek to expand their operations internationally.
John states that identifying pitfalls and establishing a focused strategy is of paramount importance. “The initial analysis we perform is to help clients identify their goals and assist them in articulating how they will attempt to accomplish those goals. There are various ways we can do that.” Another common issue businesses often encounter is operating without having done due diligence. “The most common pitfall is when the initial goal of driving revenue is based on incomplete assumptions.”
Further complicating matters are new trade agreements. As John notes, his team also helps clients navigate these complex agreements so that international expansion does not result in exposure to unforeseen taxes and other complications. He also reminds readers that Connell Foley’s memberships with the USLAW Network and the Trans European Law Firm Alliance (TELFA) mean the firm has relationships with, and direct access to, qualified attorneys across the U.S. and Europe.
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