In November the Clayton & McKervey team traveled to London, Manchester and Amsterdam to collaborate with firms focused on global expansion. We started our trip visiting with several UK PrimeGlobal firms, leaders from Centuro Global and companies focused on foreign currency exchange, relocation and staffing. It concluded in Amsterdam for PrimeGlobal’s Insights Congress – EMEA event focused on sustainability and the state of current global markets. Here are top 10 takeaways on topics we’ll be exploring further:
- B Corporations – This structure is top-of-mind for European companies focused on sustainability. We can share a copy of the workbook we obtained while there.
- ESG – This is another key topic area and we met many firms that provide substantial leadership in this area. We can introduce you to a firm in Paris that is a demonstrated leader.
- Brexit – Manufacturing and distribution in the UK is greatly impacted by Brexit with effects (both positive and negative) to surrounding countries as a result. PrimeGlobal firms in the UK can speak to the specifics if interested.
- Taxes – Despite the amount of information available on the U.S. tax structure, the comparison of in-country and U.S. taxes was a conversation everywhere we went. Look for more from us to help companies considering an expansion better understand how our taxes compare to theirs.
- Foreign Currency – The U.S. is behind the trend on leveraging currency exchange opportunities. We can connect you to a female-owned company helping owners save through bulk buying power.
- Employer of Record (EOR) – More and more companies are considering how establishing an EOR can ease their entry into the U.S. We have met some new partners who can help.
- EXPAT Taxes – We are regularly asked to help foreign-born individuals with EXPAT taxes. Although this is not an area of focus for our firm, we have a PrimeGlobal firm ready to help.
- Energy Concerns – Our colleagues across the pond are obviously impacted by energy issues related to the Ukrainian conflict. Understanding how these challenges may impact foreign direct investment, especially the manufacturing segment, is key.
- Banking Partner – We attended a seminar from HSBC Bank regarding their international platform with global wallet capabilities and fast account set-up. We are learning more about their program offerings.
- Economic News – The HSBC survey identified 78% of UK companies are targeting growth through international expansion; including 37% trading in North America. As UK businesses lose European Union business due to Brexit, many are turning to the U.S.
Continue the Conversation
Please reach out if there are any connections we can make to support your work. For your reference, Clayton & McKervey has set up a dedicated UK site to support this market. We expect to be back in the region next spring and look forward to continuing the conversation.
