Planning your business expansion abroad?
The critical role of the right in-country partner
Business expansion beyond borders is an exciting venture, but the landscape of international business has evolved. While the fundamental steps remain, the tools and advantages available for effective management have transformed. Enter Professional Employment Agencies (PEO) and the invaluable tool of Employer of Record (EOR). These instruments alleviate the complexities of employment, liability, and compliance, affording businesses the time needed to swiftly explore their potential in foreign markets.
However, the key to a successful expansion lies not only in the mechanisms but in selecting the right in-country partner, especially beyond the initial exploration phase.
The advantage beyond mechanism: Local knowledge matters
Beyond the procedural advantages, having local knowledge with a tangible presence is invaluable. Many global PEO and EOR companies offer similar tools, but not all provide the same level of resources and expertise. Tech-oriented platforms often lack a unique footprint and local personnel in the countries you aim to establish a presence in. In the realm of international business, you can’t underestimate the value of local knowledge and the human touch.
Yet, within the PEO and EOR realm, there are limitations. Local compliance nuances, such as regulations dictating the duration of employee leasing before additional employment liabilities kick in (as seen in Germany and France), add complexity. Each European country has its distinct employment regulations, language, culture, payroll, and social tax system. Choosing a supplier with in-country presence and knowledge is vital to navigate these challenges effectively.
Life after EOR: Setting up your own entity
Many PEO companies excel in supporting the exploration phase but fall short when it comes to the crucial step of setting up your own entity. Traditionally, clients establish their own companies using legal companies and bigger traditional third party suppliers. However, this process can be costly, time-consuming, and administratively demanding.
Parakar addresses this challenge by bringing talent in-house to support customers throughout their journey abroad. Offering award-winning EOR services, immigration support, and professional services, Parakar ensures a seamless transition from initial exploration to a fully established and operating business. From entity creation to safe employment transfers and onboarding, Parakar provides a one-stop-shop solution, allowing businesses to focus on their core activities.
The one-stop-shop advantage: A holistic approach
Choosing a one-stop-shop solution like Parakar means considering your holistic journey. From initial exploration abroad to a fully established and operating business, Parakar’s in-country teams, tools, and services provide consistency. This comprehensive support allows you to navigate the complexities of compliance, guided by local knowledge, and plot a clear path to development milestones.
If you’re interested in a one-stop-shop solution for your business expansion, contact us today via the button below or visit our service page for a breakdown of the tools in our toolkit. We are here to help with the human touch.
Blog written by Simon R. Burney – Parakar Business Development