1. What is the business climate? is it open, friendly, closed and competitive?
2. What is the business culture? Fast-paced and service-oriented or slow and not at all service-oriented? How does that affect your business or product?
3. Is there a potential workforce for your product?
4. Are the necessary resources available?
5. What requirements exist for setting up companies or doing business in the country of your choice?
6. Are the country’s laws and regulations compatible with US laws and regulations or are they incompatible?
7. What are the import/export regulations?
8. Are there sufficient legal, insurance and logistical resources available to protect your business venture?
9. Be prepared for everything to take (much) longer than you’re used to. The European pace in general is more relaxed.

Action Steps
The best contacts and resources to help you get it done

Tips & Tactics
Helpful advice for making the most of this Guide

• Know the language - (or at least start studying it). Although English is basically the general language of business in Europe, knowing the host country’s language is a very important tool when planning on doing business abroad. Not speaking the language at all limits your ability to interact in an informed way and can set you up for being taken advantage of. Furthermore, native English speakers are often considered arrogant due to widespread lack of foreign language proficiency. Speaking the language or at least trying to increases credibility (particularly if you’re dealing with some of the less-known EU languages).
• Make contact with American embassies, consulates and chambers of commerce in your projected country. Their websites will be very helpful and provide many links.
• Go live in the country 2-3 months. Do this after you’ve studied the language for a while. Living in the country beforehand will give you a better understanding of the culture you’re planning to do business in. You’ll learn more about the people, the economy and consumer habits by being there. It can help you have a clearer idea of the risks and strengths of your business plan. Join some of the local networking and business groups to get more informed views of the business environment.
• Personal Contacts - Some countries rely heavily on who you know, while others are more motivated by substance and expertise. In Spain for example, contacts make things much easier. If you are interested in doing business in a country where contacts are very important, start out by seeing what contacts you already have around you, and their contacts. Research the local networking groups on the web and contact them. These are often run by ex-pats who can give lots of information and insight into the country or city. Also contact your local Rotary Club, Alumni Associations, the Junior Chamber International, etc., (it’s often necessary to be a member or former member of these organizations but the contacts there can be very useful).