2013년 10월 26일 토요일

Rodrick Gorden's blog ::Small Business Funding, How to fund a startup, Due Diligence (II)






Rodrick Gorden's blog ::Small Business Funding, How to fund a startup, Due Diligence (II)










               One               of               the               benefits               brought               about               by               the               internet               era               is               the               opportunity               to               grow               a               business,               big               or               small,               into               the               global               market.

Today               a               company               in               New               York               or               an               individual               in               London               can               access               the               international               marketplace,               and               start               partnerships               with               a               company               in               Dubai               or               Singapore,               or               find               suppliers               in               Mumbai               or               Beijing.

The               playing               field               is               now               flat,               and               the               world               (overpopulated               and               full               of               concrete)               is               now               global.

Reaching               across               borders               increases               opportunities,               and               creates               more               options               for               profitability.

But,               where               there               are               internet               relationships,               there               is               risk.

High               risk,               in               fact.

How               do               you               know               if               the               company               you               are               about               to               start               a               partnership               with               is               legitimate,               well-established               and               honest?

How               can               you               be               sure               if               the               organization               has               any               criminal               history               or               fraud               activity,               especially               if               the               country               you're               dealing               with               is               in               another               country?

In               China               or               India               or               Brazil,               language               and               cultural               barriers               can               be               major               obstacles,               and               make               international               due               diligence               and               verification               a               difficult               process.

In               most               cases,               lawyers               and               law               enforcement               officials               recommend               contacting               a               professional               international               investigation               firm               for               assistance.



               In               today's               globalized               world,               it's               vital               to               answer               as               many               questions               as               possible,               and               to               verify               as               many               facts               as               possible,               prior               to               submitting               any               payment               or               signing               any               contracts               involving               international               business.

The               risk               for               fraud               and               scams               is               simply               too               great.

If               there               are               too               many               unknowns,               there               are               likely               additional               hidden               truths               that               you               haven't               even               considered.

This               is               the               nature               of               business               and               individuals               to               present               themselves               or               their               business               in               the               best               light.

To               make               an               informed               decision,               you'll               need               to               know               not               only               the               good               points,               but               also               the               potential               pitfalls               and               risk               related               to               forming               a               business               relationship.

You'll               need               the               dirt,               if               there               is               any.

After               all,               being               informed               will               allow               you               to               make               important               decisions               that               will               keep               your               company               profitable               for               the               long               term.

Ignoring               the               risks,               on               the               other               hand,               can               lead               to               victimization               of               fraud               or               scam,               and               even               bankruptcy.

Unknowingly               getting               involved               with               a               criminal               or               an               organization               guilty               of               criminal               acts               can               lead               to               serious               complications               down               the               road,               and               screening               for               such               risks               is               of               utmost               importance.

Prudent               business               persons               hire               a               reputable               international               private               investigator               to               conduct               due               diligence               to               avoid               significant               harm               or               damage               to               their               own               company,               personal               reputation               or               property,               and               minimize               the               risks               involved               in               financial               transactions,               company               acquisitions               and               mergers.
               Expanding               businesses               should               consider               not               only               the               possible               profits               and               opportunities,               but               also               the               possible               red               flags,               and               the               possibility               that,               what               if,               for               example,               the               company               is               not               who               it               claims               to               be?

What               if               the               business               contact               or               supplier               is               not               who               they               claim               to               be?

How               do               I               know               if               my               company               makes               payment,               they               will               truly               deliver               the               product?

These               are               serious               questions,               and               they               need               to               be               answered.

Conduct               due               diligence               to               verify               prospects'               financial               and               business               operations,               employee               count,               confirm               physical               and               financial               assets,               business               filing               and               registration,               reputation,               and               major               shareholders.

Has               there               been               any               history               of               lawsuits?

Have               there               been               any               accusations               of               fraud               or               criminal               activity?

In               a               domestic               relationship,               such               business               questions               can               usually               be               carried               out               in-house               by               a               company's               legal               department.

However,               international               business,               and               international               due               diligence               requires               having               a               team               of               professionals               on               the               ground               to               verify               facts,               gather               important               information               on               the               company,               and               screen               for               fraud               or               scam.


               

               Whether               you're               in               New               York               or               Singapore,               Manila               or               Sao               Paulo,               London               or               Paris,               and               you're               considering               a               relationship               or               merger               or               supplier               or               investment               in               another               country,               do               your               due               diligence               and               be               informed.

For               proper               verification,               it's               important               to               work               with               a               reputable               firm               that               has               international               offices               or               field               investigators               in               the               countries               where               you               need               them,               who               can               work               through               the               language               and               cultural               barrier,               and               have               professionals               on               the               ground               verifying               information               and               discreetly               gathering               facts.

Getting               a               due               diligence               or               international               background               check               is               sort               of               like               insurance,               and               it's               good               to               be               covered.
               Best               of               luck,               
               
               A               Hathaway               
               ©               2011               A.

Hathaway




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