The Rise of SMEs and Start-ups going Global

We are seeing more and more of our clients from SMEs who are beginning to build a presence globally. In fact, a recent survey of UK SMEs highlighted that a quarter of them (1.3 million) are looking to expand overseas in the next 12 months. Supporting this appetite for new growth doesn’t come without its challenges, are they ready to navigate the minefield of compliance that comes with doing business internationally?

Many of these organisations are unaware and ultimately unprepared for the challenges that come with having a globally mobile workforce. They are unlikely to have a dedicated global mobility team, instead the majority of the work will fall on the desks of relatively small HR teams who may be inexperienced in the ever changing landscape of regulation, immigration and tax issues that can be thrown up when moving employees abroad.

How do they bridge these challenges? Do they engage a solution provider, or have a go on their own? Whatever the answer, it’s clear they will need to focus on global mobility as not doing so could lead to a whole host of compliance issues, however, get it right and their growth could be exponential.

Alex Felstead, Associate Director, Joseph & Co