with gilbro group LLP
At Gilbro Group LLP, we have vast experience of moving businesses into the international market place. Between our senior partners, we can offer over 100 years of experience when assisting your business move into new global markets. With our expertise, your company can negotiate the rules, regulations and procedures with ease, while ensuring all trade within your domestic market runs smoothly.
We offer services and support in all of the following areas:
- Identifying new international markets.
- Trading from the UK to Asia/Asia to the UK.
- Initial investigation of foreign markets.
- The viability of different business models moving into those markets.
- Market analysis: cultural, banking, finance, legal, competition, etc.
- Establishment of a foreign entity.
- Cross-functional disciplines.
- Cross-border taxation.
- Maximising the use of DTAs between relevant jurisdictions.
Read on for more information about how Gilbro Group LLP can support your business’ move into the international markets.
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Identifying New International Markets
Before your business jumps into an international market, you must carry out a preliminary analysis of your company and choose the right international market for your company.
International markets vary greatly depending on the country/group of countries you are focusing on trading with. Selecting the right markets, and learning how to reach out to them, will determine the viability of your expansion strategy. These markets will shape your business’ international development, in addition to your planning and growth potential.
We recommend conducting an initial global market selection process before making a commitment: exploring the environmental and market analysis, including the GDP growth and the country’s political situation; the possible distribution channels, by tracking the supply chain of your product; analysing the competition; as well as considering the demand analysis.
Assistance and Support
Let us help you. At Gilbro Group LLP, we can take the corporate headache out of the process by offering you advice and knowledge from years of experience. We will guide you through potential international markets that will compliment your business’ goods/services, helping you through a variety of crucial factors in the decision-making process; such as, market concentration and market diversification. Or we can set everything up for you.
Trading from the UK to Asia/Asia to the UK
Our team has a combined speciality with The Association of Southeast Asian Nations (ASEAN) international market, that was founded in 1967. This international market is the deepest regional grouping in Asia and includes a total of 10 countries: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. We also have a particularly close relationship with Japan.
In 2019, the total trade in goods and services between the UK and ASEAN member states was £41.7 billion, a 12.2% increase from the year before. It is no wonder more business are looking towards the opportunities the ASEAN International market can offer; it is essential, however, to have an in-depth understanding of the processes involved, and the foreign market they are entering.
Brexit causing confusion?
A great deal has changed over recent years, and many business owners are unsure how to manage the recent changes. We can help you to find the route to continued success.
Initial Investigation of Foreign Markets
Foreign markets include any markets outside of a company’s ‘home’ country. Selling in foreign markets, therefore, involves navigating new languages and cultures, in addition to different laws, regulations and requirements.
Each of these countries comes with their strengths, with different states offering stronger markets for various sectors. In order to reap the best rewards; it is beneficial to thoroughly research the market profile of individual countries, gaining specialist advice where you can. If you would like to speak to our experts about an international market your business is considering, you can get in touch with us.
The viability of different business models moving into those markets.
When your business is looking to branch out into an international market, researching the potential opportunity and creating a market entry strategy is vital. Exporting goods is often the first step to entering a foreign market, which can lead to setting up a business presence there, but there are plenty of other strategies to consider.
Your company’s business model moving forward into these markets is crucial. And, it is worth noting that not all strategies suit all businesses, you will have to assess each plan and choose the one which suits your company’s needs the best. The strategy an organisation chooses will often depend on its level of experience in international business, and its appetite for risk. But, you do not need to evaluate the viability of these models alone.
At Gilbro Group LLP, our senior partners and specialists are on hand to offer your business the support it needs to make these decisions confidently. Whether your company opts for a strategy of exporting, licensing, joint ventures, or foreign direct investment (FDI), with our services you will have a clear understanding of the risks and market your business is undertaking.
In order to gauge the viability of your possible business model, our experts will carry out quantitive and qualitative assessments on your preferred international market. Our market analysis takes into consideration the size and value of the market, as well as the various customer segments and buying patterns that exist. At Gilbro Group LLP, we also prioritise the analysis of the current competition and the economic context.
Thorough market knowledge is vital to the success of international businesses, and we endeavour to provide meticulous market analysis culturally, financially, and legally to help you understand your target markets extensively.
it's never too late.
There has never been a more crucial time to get some support with your business. We have a wealth of experience and can guide you in the right direction.
Establishing a Foreign Entity
Another step in the process is registering your company as a foreign entity within the state of your new market. When your business was initially formed, it became registered with a particular place which is known as your home or domestic state. Within your domestic state, your business is granted specific protections, and you can represent yourself in the jurisdiction. When your company enters a new foreign market, to gain the same protection from the state, you will need to register as a foreign entity.
There are many steps involved when registering as a foreign entity, and the process can vary depending on the market you are deliberating. However, we can take care of your business’ registration process and walk your company through each step that is required.
When your business enters international markets, you will have to pay taxes and make tax declarations in two or more countries. With the UK’s exit from Europe under the Brexit deal, the rules and regulations surrounding cross-border taxation are currently in a period of transition.
The UK’s HM Revenue & Customs (HMRC) has now published its up-to-date literature on how it will implement the EU directive known as DAC 6. The DAC 6 is designed to allow EU tax authorities to share information about cross-border tax schemes and came into force on 1st July 2020. There has since been a six-month delay in reporting obligations due to the coronavirus pandemic.
the use of DTA
In addition to providing support with your business taxes, our experts can also help you to maximise the use of Double Taxation Agreements (DTAs) between the relevant jurisdictions. DTAs are treaties between two or more countries that are created to avoid international double taxation of income and property.
The primary purpose of DTAs is to divide the right of taxation between the contracting countries; this helps to avoid differences, to ensure taxpayers’ equal rights and security, as well as preventing the evasion of tax. To find out how you could benefit from a DTA, speak to one of our team today on 020 3641 8835.