With globalisation continuing to bring the world closer together and reducing barriers to international trade and commerce, it is becoming more common for businesses of all sizes to expand into overseas markets. Changing customer profiles and modern technology have also made it a lot easier to access products and services internationally as well as allow businesses to work flexibly.
However, with this comes increased complexity as businesses wrestle with unfamiliar local practices, new compliance obligations, and onerous regulations. At the early stages of expansion, many businesses won’t have the in-house knowledge or capacity to manage these new obligations efficiently and it can require a huge time commitment to ensure you are fully compliant across all new territories.
Stage 3 of the Outsourcing Lifecycle introduces our Global Compliance and Reporting Services (Dynamic Market Expansion) offering. This is delivered by a PRINCE2 qualified team of project managers based in the UK. The team will guide you through the first steps into new international markets, helping identify local registration and filing needs and, resolving key risks to ensure that you have a smooth and successful transition into new territories.
Moving into new countries where you do not have local knowledge can be intimidating and trying to understand local laws and practices is often harder than first expected. By tapping in to the expertise of our global RSM network firms, whom we work closely with on a regular basis, the Dynamic Market Expansion team can walk clients through the following areas and much more:
Once we have helped you successfully establish your new international presence, our team will help you to coordinate and deliver all your local in country compliance requirements including local bookkeeping, tax compliance, financial statements preparation, payroll and statutory audit services. This coordination service takes the pressure away from you to find trusted advisors for multiple services in a market you may not be familiar with and instead provides you with a single UK contact team.
We offer a people led approach utilising our established project management methodologies as well as our online workflow management tool. This tool gives you the ability to:
- view and track the status of your compliance filings in real time; and
- assign tasks and actions to designated individuals which provides accountability and ensures the swift delivery of your compliance obligations.
As you grow and your business continues to develop, we continue partnering with you, guiding you towards Stage 4 of the Outsourcing Lifecycle as you expand into new markets and establish a significant international footprint.