CSIA Members: Log in using your login credentials with CSIA or the CSIA’s Connected Community. If you've never logged in, your password will be CSIA plus your first and last initials, all capitalized.
If you experience an issue accessing your account, please email email@example.com or call 1-847-686-2245 for prompt assistance.
PostedMonday, February 7, 2022 at 10:00 AM
Putting together your team of U.S. expansion advisors? Here are some items to consider. Find out more here: https://claytonmckervey.com/expanding-to-the-us-why-you-need-these-partners-by-your-side/
Expanding to the U.S. can be a lucrative opportunity, but also one ripe with challenges. The legal and tax requirements at every phase of expansion are difficult for foreign investors to successfully navigate without the right team of U.S. experts. Building a team you are confident in can be overwhelming, especially in the early stages of planning. Learn which partners you need by your side and how they can help you successfully expand to the U.S.
When building your U.S. expansion team, make sure they check the below boxes:
Your U.S. accounting and tax advisors are the cornerstone of your team because they are responsible for the accounting and tax treatments within all key areas of U.S. expansion and operation. Here are some key focus areas for your U.S. accounting and tax advisors when expanding to the U.S.:
It’s important to have the right legal advisors on your team throughout your U.S. expansion journey. The collaboration between your attorney and tax accountant is also important as most legal matters have a tax perspective to understand and optimize.
It is important to have a U.S. bank on your team who can assist you with short-term and long-term banking and lending needs, both which have intersections for collaboration with your accountant.
One of your biggest challenges in your U.S. expansion will be attracting and retaining the right workforce. Once you successfully hire U.S. employees, you need the right payroll related service providers on your team to assist you in meeting all the requirements of a U.S. employer. You may need to use multiple payroll service providers, or you may find one provider offering all services needed for your U.S. workforce.
Insurance providers are another important part of your U.S. team. Depending on your business needs, this could include insurance providers specializing in general liability insurance for buildings, auto insurance for company cars, or worker’s compensation insurance. U.S. employers also typically coordinate medical insurance for employees, which could include health, vision, and dental. Some insurance brokers are a one-stop shop, but you may require more than one insurance company to meet all your company’s needs.
When considering a global expansion, your company will want access to key information about cash and tax incentives, site selection, workforce, customer and supplier connections and more to determine the optimal location and establish an accurate business plan. In the U.S., government organizations at the federal, state, regional and local levels have economic development programs to assist foreign companies with their U.S. expansion plans.
Many countries have organizations and programs to support the international growth of companies outside their native borders. U.S. economic developers often work closely with these foreign economic development organizations to provide strong support for foreign companies investigating an expansion to the U.S.
As a leader in global expansion consulting, we have access to a knowledgeable network of professionals, each experienced and working at the top of their game. We work closely with foreign companies of any size who are interested in taking advantage of the opportunities in the U.S. market. We are confident in our ability to tailor solutions for your subsidiary to not only meet the needs required by law but also to exceed expectations so your business has room to thrive. Our team is ready and excited to help every step of the way. For additional information, call us at 248.208.8860 or contact us directly. We look forward to speaking with you soon.