Global Expansion
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Global expansion is big step for any organisation. Though the opportunities that may come with expanding your business can be incredibly exciting, going it alone without the support of a International Professional Employer Organisation (PEO) like Bradford Jacobs can increase the cost, time, and risks involved.
New markets bring new challenges, involving the lengthy process of setting up your own legal entity or branch office abroad, and the ongoing setup and management of global employment processes like visa, payroll, tax, benefits, and more… 100% compliance at each step of this process requires extensive knowledge of a country’s laws, or you may be met with violation fines before you’re even seeing a return on your expansion investment.
Partnering with Bradford Jacobs gives you true global mobility, as there’s no need to wait for legal entity setup to begin trading in a new market – you can utilise our existing entities all over the world, saving you time and money from the start. Not to mention that you’ll be safe in the knowledge that your expansion is 100% compliant, no matter which country you have your eye on. We’ll take responsibility for all the complicated local processes, navigating local laws, customs, and bureaucracy, while you focus on your global expansion strategy.
What are the benefits of International Business Expansion?
When it comes to your Global expansion strategy, the reasons why you’re expanding are often just as important as how you’re expanding. Here’s a few benefits of expanding your business into new markets:
SATURATION IN LOCAL MARKETS:
If you’re already reaching the majority of your intended audience in your home country – or if there’s high competition from other companies selling a similar product or service – entering a new Global market helps you broaden your target audience.
REDUCE RISK WITH DIVERSIFICATION:
By diversifying your audience across multiple countries, you reduce the risk of relying solely on the economic success and buying habits of one country’s domestic market. You’ll also have better insight into global trends, another skill that will strengthen your company for the future
TO EXTEND YOUR PRODUCT LIFE CYCLE:
By opening yourself up to a new market – and perhaps even updating your product or service based on previous experience – you’ll create brand-new revenue streams.
TO FIND GLOBAL EMPLOYEES OR SKILLS
If you only ever hire the people nearest to you, you’re in danger of missing out on the desirable skillsets and mindsets of talent in another country.
Global Employee Recruitment during Global Expansion
Hiring overseas employees isn’t easy. With a complex combination of varying time-zones, languages, employment laws, and unique cultural practises, it can be different for a company to find the best talent to add value to their global expansion plans.
Partnering with Global Expansion Experts like us for your global recruitment services, though, can reduce the cost, time, resources, and risks involved in the process, meaning you can be trading in a new marketplace in days, not months. Here’s how we support your global recruitment:
- Without the need to set up your own legal entity, you have the ability to enter new markets with ease and speed, reaching the best candidates before anyone else.
- We’ll provide local recruitment connections and cultural insights, giving you the strategic edge to draw in new talent.
- With our years of expertise in global marketplaces, we can guide your brand positioning during the talent acquisition phase to bring in the right people.
- Access to exclusive benefits packages at economies of scale can be used to attract and retain top Global talent.
Globally Expand without an Entity
Here’s the secret… With a PEO like Bradford Jacobs, you can completely skip the lengthy, costly process of setting up your own legal entity in order to begin hiring and trading in a new country.
While companies without a PEO partner are tied up by all the red tape in the way of their expansion plans, you can benefit from true global mobility and test or establish a small base overnight without the headache of litigation.
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PEO Streamlines Global Expansion
With a professional PEO and EOR like Bradford Jacobs, we take care of all of these concerns and risks, allowing you to immediately tap into the global talent pool and localise talent to your global expansion needs.
From the first step in the journey, you will be able to utilise our existing entities, in-depth knowledge, and local connections around the globe, meaning we’ll be able to save you time, money, and resource at each stage of your Global expansion. And should you not see the ROI you were hoping for, you can be out of a country in days without being tied down – we’ll take care of everything.
Remote Workers and Global Expansion
Remote working has never been more relevant than it is right now, so Global remote working is the next natural step, especially if you have your eye on moving into new countries and markets.
What stops a company from building their Global remote workforce?
- Lengthy, costly process of setting up a new legal entity
- Time needed to find a Global bank account, legal team, HR, and more.
- Not knowing where to start in global talent acquisition
- Knowledge required to set up Global employee payroll, tax, and visa.
- High levels of risk if the market is not seeing ROI, as you then must disband your entity and new team.
- Concerns around breaking local employee laws or regulations in unfamiliar territory
Global Expansion FAQ's
Here are our most frequently asked questions when it comes to the topic of global expansion… If you’re running out of time, we can save you the time of reading through and give you this one piece of advice: Don’t set up an entity, set up a PEO.
Every EOR handles this process a differently, but with Bradford Jacobs, our journey is this:
Step 1: AssessmentWe like to understand your organisation fully to assess which of our services will be most necessary in helping you globally expand; we call it a PEO relationship.
By taking the time to get to know your business and its goals, we get a better insight of who you would like to employee in the new territory. With this information, we can hit the ground running with processes that make sure your global employees are completely compliant, such as setting up payroll, benefits, tax, and visas.
Step 2: OnboardingAs your Employer of Record, we agree terms with you before setting up your employment contracts. Here, we’re aiming to understand all your company benefits and working arrangements so that employees understand these from the get-go and feel like part of the family.
At this point we take a small service deposit to protect you and the employee in the event of sudden redundancy. Throughout the expansion process, as your chosen PEO Employer of Record, we take your protection and international compliancy seriously to reduce risk for all parties at every step.
Step 3: Ongoing supportWe’ll provide continuous oversight to your global employees, ensuring that benefits and payroll are delivered on time, every time. No matter the time, country, or language, if you have any issues or concerns regarding payroll, benefits, tax, or legal compliance, we’re here to help.
Without a PEO: If you would like to purchase property or take advantage of local corporate tax rates, setting up your own entity may be an attractive option.
With a PEO: No. Experience true global mobility without the risk or expense of creating your own legal entity in a new country./p>
Without a PEO: Timing varies depending on a number of different factors, but you can expect at least 3-4 months before you can compliantly enter a new market. However, this can change significantly due to delays, errors, or misunderstandings throughout the process.
With a PEO: Use one of our existing Global entities and enter a new market in days.
Without a PEO: Every responsibility and risk falls on your shoulders, even if you’ve never been through the process of setting up an entity in another country. You’re at high risk of violating a country-specific law, resulting in unexpected fines, and you could be in the red in a new market before you’ve even begun trading.
With a PEO: We’ve been through this process countless times with different companies all over the world, so you know that every step you take is efficient, cost-effective, and 100% compliant with a country’s laws. Check out our guide on the pros and cons on PEO vs Setting up an Entity.
Without a PEO: You’ll need to be on-hand for a team of local lawyers, accountants, and HR – not to mention any queries from your remote workers about their payroll, tax deductions, pension payments, benefits, and more. Your focus will be torn from your business growth.
With a PEO: If you make the most of our EOR services, you will find that the ongoing management of an entity and its Global employees barely ever take time from your day. We’ll handle every laborious process in compliance with country laws.
With our years of expertise in this area, we can support your process of setting up an entity in a number of ways:
- Give you insights into local laws and regulations
- 24/7 support, in many time-zones and languages
- Use local connections to save you time and money
- Ensure that you’re 100% compliant throughout
- Ongoing guidance in any of the complexities around Global entity setup
Download our Global Expansion Guide
For more information on our most relevant Global Services for Global expansion, download our guide:
