There are of course inherent risks associated with any new venture, but the risks of entering a foreign market drastically increase if you do not have a good understanding of a country’s economy, laws, culture, customer habits and costs. In order to avoid the catastrophic losses that many ill-informed businesses have suffered, the social and economic climate surrounding any market of interest has got to be carefully vetted.
We help our clients gain a comprehensive awareness of the external factors that could effect their business. We leave no stone unturned as we know all too well that the devil is in the details and that even the smallest oversight can have a crippling affect on a foreign business venture.
COMPANIES WHO LOST IN
It was reported that a combination of intricate labour laws, restricted business hours and culturally unfamiliar in-store conduct were behind the Wallmarts failure in Germany. Estimated losses were approximately £1 billion.
It has been suggested that a lack of understanding regarding the economy and customer shopping trends caused the British food chain to fail in the United States. Estimated losses were approximately £1.8 billion.
Despite a promising financial climate it is believed there was a distinct misunderstanding of Chinese culture. This oversight lead to the complete closure of Home Depot’s stores, resulting in a total £160 million loss.
As well as highlighting the relevant external factors that could effect your business abroad, we also help you navigate the cultural, linguistic and geographical barriers that often increase the time and cost of getting your venture going. From the sourcing and acquisition of premises to the arranging of key business introductions, we offer a comprehensive service that deals with the practicalities of getting your business off the ground and trading successfully in a foreign country.
We can help you:
- Register your company with local government and tax authorities
- Organise a locally registered office and deal with all legal filings
- Arrange bank facilities and other financial services
- Provide accountancy and tax advice (with full support services)
- Business planning consultation and advice
- Corporate financing bank negotiations / insurance arrangements
- Provide interim management during start-up or re-organisation
- Vehicle registration/insurance/purchase/financing/importing
- Employee packages – domiciliation and residence
- Register Patents/royalties/copyrights throughout the UK, EU and rest of the world
- Synergise your marketing with the culture and preferences of your target demographic
WHY CHOOSE US
HOW WILL BREXIT AFFECT YOUR BUSINESS?
The relationship between the UK and the EU is going to change. Whether you’re currently trading in either market or planing to do so in the future, it’s vital to position yourself correctly in order to take advantage of the situation and avoid potential pitfalls.