04:05 GLOBAL
H aving built and scaled global companies for over a decade, I’ve learned that international expansion requires more than just ambition. Successful international expansion and management of global workforces demands strategic planning, adaptability and a deep understanding of local markets. For founders considering global growth, here are key lessons from my journey and practical advice for navigating the complexities of international expansion. Scaling Globally: Laying the Right Foundation It’s important to have a well- defined product-market fit and a strong operational structure before considering international expansion. Once that is in place, then go on to identify target markets that share similar customer profiles and business environments. Another important component to building a strong foundation for global expansion is technology. The right technology will streamline operations, ensure compliance and maintain a
seamless expansion. For example, ensuring the right payroll strategy and technology are in place will eliminate many hurdles if deployed properly. Since scaling globally requires a payroll strategy that supports compliance across multiple jurisdictions, companies need to determine: Whether to use a global payroll provider or manage payroll in- house for each country How to handle employee benefits, taxation and social security contributions If an employer of record (EOR) provider is needed for countries where they don’t have a legal entity Overlooking this will expose businesses to risks that will significantly complicate global expansion efforts, including but not limited to payroll delays, legal penalties and reputational damage. Overcoming Major Challenges in Global Expansion One of the most daunting challenges I faced when expanding my businesses globally was ensuring compliance
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GLOBAL PAYROLL MAGAZINE ISSUE 9
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