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
What are the benefits of Global Business Expansion?
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. 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
Extend Your Product Lifecycle:
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.
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
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., another skill that will strengthen your company for the future