Thinking of running a business abroad? If youemploy local people, you’re naturally the boss.But the local government regulates youroperations. So who runs the show?
WHEN I WAS A YOUNG, ONLY CHILD, and my father told me to do something, we would always have this exchange:
Me: Why do I have to do that?
Dad: Because I’m the boss.
Me: Well, then who am I the boss of?
Dad: You’re the boss of the bugs.
It’s sort of a silly little exchange between a father and child, but it reminds me a lot of running a business abroad. As a business’s leader, you play the father role to the local employees, but you also play also the child role to the host-nation’s government.
For the sake of this section, we’ll assume you plan on operating the business ...