Expansion and global mobility are just a couple of sure-fire ways to get your foot in the door on a worldwide scale. The economy may present better opportunities, and your product or service may fare better in one country compared to another. No matter your reasoning for implementing an international business expansion strategy, there is bound to be some entry barriers that can slow down the momentum of your move. Luckily, there are professional employment organisation (PEO) companies that can assist.
Here at Payroll Worldwide, we can help remove entry barriers for any companies wishing to expand to the Latin America area. We can provide professional payroll and HR outsourcing services to help businesses get settled as efficiently as possible. We can also provide a concierge service to staff who are moving with your business, decreasing some of the stress that can accompany a large move. There are various barriers to be aware of, and some are more common than others.
When businesses move over to another country to attempt to sell their products or services, there are bound to be some cultural barriers that can hinder you or your employees. Working environments are different in all countries; this doesn’t just apply to wages and tax, but with workday hours and holidays.
You need to make yourself aware of how the working environment operates in the region that you’re moving to in order to make yourself compliant and professional. You won’t be able to attract potential candidates for your business if it’s clear that you don’t understand the culture, which can hinder your development.
No matter whether you bring some employees with you or not, you may also want to consider learning a little bit of the language. It is not only a polite gesture, but it can help you out when employing local employees who may not speak your own language. In Latin American countries such as Mexico, the culture is much different to that in England; in order to operate efficiently, you may wish to consider hiring a PEO who understands the working environment and can cater to your employees.
Pricing and Branding
The value of £100 in Britain may not have the same value in another country. This can be quite a hurdle to overcome if you are not prepared, as you may be over or undercharging your product or service. Try to look at what your competitors are achieving and take some well-needed advice. You don’t want to be copying them exactly, so just take some inspiration in terms of pricing. If your product is unique and your competitors are scarce, you need to ensure that you conduct relevant research to please your target audience.
A strong brand voice and value creates loyal, eager customers that you will need to attract and retain. You are already moving into unfamiliar territory, so you need to make an impact quickly. If you don’t advertise your product or service enough, or have a unique selling point, you won’t make an impression. Here at Payroll Worldwide, we can handle all of your HR systems, such as recruitment and payroll, leaving you to focus on branding and selling. To find out more about our services, please visit us here.
Tax and Labour Law
Employment law and regulations differ from country to country, and even region to region. One of the most important things your business must be is compliant; without it, you can face significant penalties from various authorities. PEO companies can handle all tax and labour law regulations, possessing notable information to help you remain compliant. Here at Payroll Worldwide, we can help your staff obtain visas and work permits, as well as handle all tax regulations to give you peace of mind.
Your employees will expect a certain level of respect and treatment, and some of these points will be in line with labour law. Before you move, make sure you’re as clued up as possible. Although a PEO can help you stay fully compliant, it’s still worth gaining an understanding for your own benefit.
How We Can Help
Here at Payroll Worldwide, we are one of the most reliable PEO companies that can assist you with all payroll and HR needs, allowing you to focus on more important aspects of your business. To find out more, or to book a consultation, please give us a call on 07469 892524. Alternatively, you can fill out our online form here.