Overseas Offices
Going overseas is an exciting and often enticing option for businesses. Growth is tough in a UK economy and clients are looking for global solutions.
International expansion is not something to undertake lightly. It can be expensive and it will require some strategic planning.
Firstly be certain that you are entering the right market - the why . Can we not service the client from the UK and just get on a plane once a week/month to make sure we are in touch with the client?
Once you think there is an need, then be sure that the market is a practical option considering your personal attitude towards risk and your general infrastructure - the how. It will certainly not be possible to run the agency in the same way as before. Some of the areas that will need to be thought through:
- Recruitment, management and reward of staff.
- Capture of time worked - you will need to have a time sheet and project management system.
- Review of actual client work on projects that are cross-boundary.
- Tax, insurance, legal and cash considerations.
There are issues that need to be thought through before getting people on the ground.
The business should make provisions for how to exit any overseas venture before starting it. It may sound pessimistic but it is the best way and can save much pain later. As a general rule it is much easier to enter a market than exit it!
Be very careful of tax issues (aaagh!) - for the company and for the individuals.
Be very wary of entering jurisdictions that have aggressive persuits of overseas businesses and where language is a problem.
In summary, compliment a brave approach to expansion with some practical planning in advance. Like so many things proper planning beforehand can mean the difference between success and failure.