Key Factors for Startups Expanding Internationally
Startups and Global Growth
Startups have been steadily gaining more attention in the last few years, particularly in the digital arena with the adoption of ‘gig’ type jobs and online platforms becoming more prevalent and mainstream in the global business landscape. Now with technology bringing the world to your fingertips, startups are expanding internationally and taking advantage of global opportunities to cast their nets wider and ensure their global reach and growth.
Startups and the Contingent Workforce
The Contingent Workforce Management and the On-Demand “Gig Economy” future is here and a reality that all companies must accept. Some of the key challenges now being faced by startup companies utilizing Gig workers is talent engagement/ retention, compliance and risk mitigation. There have been many articles, blogs, research papers, discussions, forums and social postings about how the “gig economy” has contracted or is expanding. CXC Global America’s having provided independent / freelance contractor payroll and compliance solutions to our “gig economy” clients for the past 6 years locally in the US, feels the true amount of Gig Workers is still unmeasurable.
Global Expansion – from Domestic to International
Becoming a global company is an impressive feat, and not every business that sets out to do it accomplishes the goal. To successfully convert your business from domestic to international, you’ll need to consider a new set of factors that might not necessarily affect a local-only company. For most entrepreneurs, building and maintaining a local customer base is one of the first steps on the road to success. Once they have achieved this goal, some business owners feel they’re ready to take on the next step: expanding internationally.
Setting up operations in a new country or region can be a daunting and often challenging process for startups. There are many aspects of the business to consider, from HR to finance, to employee engagement, onboarding, payroll, back office, establishment of legal entities, risk management, foreign currency, conversions and management, to name a few.
How CXC Global can help
CXC has developed particular expertise in this field and have assisted 1000’s of companies to set up new legal entities and operations in over 65 countries globally for over 24 years and are considered the Trusted Advisor and preferred partner to businesses all around the globe.
Providing a solid base for startups is fundamental, to enable them to focus on their core business execution and growth. CXC provides such a base assisting enterprises to setup operations around the globe and will enter new regions as the needs of our clients determine.
Startups can now launch in new territories with maximum efficiency and pace underpinned by a strong compliance framework.
The establishment of subsidiary or new entities overseas is often a difficult and cumbersome process. Having a trusted advisor with over 24 years’ experience, who can also provide “in country” HR services as well as employee onboarding services, not only enables startups to focus on their core business, but it also ensures their employees are engaged, are productive and that most importantly, the company is fully compliant with local employment laws.
Contact one of our global team to find out more about how CXC can help your startup to expand internationally.
Written by Kathryn Hopkins