subject: The Top 3 Risks Of Doing Business In India [print this page] Well its definitely no secret that many businesses in North America ranging from smaller businesses to larger corporations are cutting their costs by outsourcing tasks, projects, and jobs overseas, specifically India. While this can be very good for cutting costs, what many business owners fail to remember is that you are getting what you pay for. When you outsource to a firm, you are really handing a lot of power, information, and security over to that firm. Check out these top three risks for conducting business in India:
Unrest
Although things have settled down some, India is still experiencing some major labor-related unrest due mainly to poor working conditions and lack of pay. Which means when you are contracting out to these firms, you are at risk for not only not getting a job fully completed, but also paying out without getting work returned.
Technology Issues
In some areas of India, there are actually scheduled power outages, so for those of you interested in outsourcing technology projects such as website design, website coding, or application development, you could run the risk of having days of zero work being done unfortunately due to these power outages.
Security
In my profession, Ive heard of some horrible horror stories from other firms where their security system fails. Like we stated earlier, when you choose to do business with a firm not just specifically in India, but any firm overseas, you are ALWAYS running the risk of experiencing some major security issues. These security issues could be as serious as having extremely confidential information stolen to having someone takeover your FTP account.
Hopefully these security tips have helped you to make you more cautious about outsourcing projects and tasks overseas. Sometimes you are lucky enough to find a trusting and talented firm that you can hopefully build a successful business relationship with.
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