originally published: 2023-05-12 08:38:44
Offshoring is the process of basing some of your business operations in a foreign country. While offshoring provides several benefits such as a cost advantage, there are also drawbacks. It is better to have certain activities done in another country while it is best to do other activities within your jurisdiction. Companies often use resources available overseas for activities related to software development. Since Canada already has a strong foundation in artificial intelligence, it would be best for Canadian founders to do things related to artificial intelligence in Canada. However, if programming a specific feature of an app is cheaper in a country like Estonia, then it could be reasonable to offshore that programming activity to an Estonian developer
We had the pleasure of discussing this topic during a LinkedIn Live with Tauseef Riaz, Co-Founder of Mashkraft. Riaz is a serial entrepreneur who has extensive experience in offshoring. During the discussion, he broke down how startup companies can leverage upon the benefits and tackle the challenges associated with offshoring.
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