As the largest economy in the world, the USA is an attractive market for British companies. Sharing a common language further adds to the attraction, but for many businesses the logistics and starting points can be complex and confusing.
The US and the UK share many similarities and historical connections which makes the bond between the two countries strong. At the same time, there are significant procedural, regulatory and cultural difference that must all be taken into consideration if a British company is to succeed in this compelling market.
A myriad of areas merit awareness from the outset of any expansion project, and in the case of opening a US division or operation, British companies should be mindful of:
- Regulatory requirements for their specific industry
- The type of business structure most optimal for their operation
- Budgetary and timescale planning and awareness
- Identifying the best location to setup
- Staffing, whether it be local hiring or expatriation of existing staff
- In the case of staff transfers;
- Visa and immigration considerations
- Cultural adjustment
- Relocation packages and staff support
- Underlying roles within the business
- Adjustment to any holes left within the organisation by internal transfers
- General business outlook
- Location-specific business planning
Careful planning is key to operating an overseas subsidiary. If this is done correctly, the vast majority of businesses can benefit from access to a new market - and often with less time and expense than they might expect.
This can be a complex and daunting project, so having assistance with someone who has direct experience of the process can be highly beneficial.
Contact me today and have a conversation about what you're trying to accomplish and let's see how I can help you!