If your business is preparing for growth, it’s time to start exploring your global expansion resources. The last thing you want to do is try going global on your own. There are some options that help companies become fully operational in their target market.
Global expansion resources provide assistance with employment, labor law compliance, and breaking cultural barriers. To help you make the best decision for your company, we’re uncovering three options for international partners.
Options for Global Expansion Resources
When expanding overseas, your company should seek assistance from a partner. This global partner should have knowledge of the labor laws and requirements set forth by your target country’s governing body. There are a few global expansion resources that can help your business successfully start-up operations in your new market.
An international attorney is a partner that is based in your home country. For example, you would work with an international attorney from the US that has experience in the UK.
International law is one way of looking at foreign policy. It helps to emphasize the differences and similarities between two parties, or countries. Lawyers with a focus in a particular jurisdiction can help your team navigate the complexities of international expansion such as creating employment agreements.
You will want to work with an attorney you both trust and that has enough experience in your target market to keep your company compliant. Make sure to ask enough questions, specifically about how they keep up with changing regulations.
An in-country attorney is based in your target country and will have a better understanding of local requirements than an international attorney. A local attorney can also help your team manage cultural barriers, such as language when creating contracts and working with foreign governments.
Using an in-country attorney, in collaboration with your global expansion resources, can provide valuable help when you’re trying to make relationships with suppliers and distributors in your new country.
It’s essential that you work with a local, in-country partner to understand the culture and fully grasp the labor law requirements during your global expansion.
International PEO (Professional Employer Organization)
International PEO gives businesses the tools to employ people without having their “company” in-country. It’s also a method, in some countries, for managing employee contracts.
This employer of record (EOR) service gives businesses the freedom to operate locally without the burden of legal administration of establishing a foreign subsidiary or branch.
Also, it helps companies follow the rules of local employment regulations without having to learn it all themselves. Staying compliant is one of the best ways to succeed during international expansion.
We offer global expansion resources for businesses looking to grow without the extra overhead. Contact us today to learn more.