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4. Identify and briefly describe the relevant legislation that may affect this business opportunity.5.Complete a short written report (minimum 500 words) describing the:a)processes required to establish the international business opportunityb)skills required by personnel in country and the personal skills needed to manage this business opportunityc)principles of risk management associated with this business opportunityd)support services that may be needed to be accessed.
ILSC Business CollegeBSBINT401 Assessment V5.0818Page 6 of 8a) processes necessary to establish the international business opportunityThere are opportunities in emerging markets for entrepreneurs and business owners. Just following six key elements to take into consideration when starting a business, to investor in an office furniture company it is not mandatory that the investor has had experience in the business. However, it is imperative that he has at least some baggage or knowledge in management and human resources.Some business guidelines and international opportunity:1 - Political climate and Property Rights - Some countries around the world have a record of confiscating property and / or companies owned by foreigners. Finding a jurisdiction with minimal political risk is crucial. Taking a look at an international property rights index can be very helpful with this.2 - Economic Situation - Countries with low debt ratios relative to GDP, low or decreasing unemployment and strong consumer spending usually make for good prospects.3- Your personal knowledge of the industry - you should remember that bringing managerial help will addstart-up costs. Partnering with a trusted location that already has experience and contacts within a particular industry can definitely increase your likelihood of success.