The UK’s tech sector is thriving. Ahead of both the US and China 1, the country has a number of high value scale ups and tech unicorns fuelling investment.
Digital tech has grown 6% faster than any other industry in the past couple of years, contributing £149bn to the UK economy in 2018. This is nearly six times greater than the growth across the economy as a whole 2.
As the sector continues to grow, expanding globally can take a business far ahead of its competitors. When new opportunities within the sector emerge, it is those businesses taking advantage of these who will be most successful.
If you want increased market adaptability, more flexibility and time to focus on achieving your business goals, working with a PEO can help move your business in the right direction.
A graph highlighting the rate of increase in unicorns in the UK over the last five years
Stay ahead of the market
When the sector is moving at a high-speed rate, it’s important to stay ahead of your competition. But, when it comes to setting up an entity, the process can take months. And that’s not forgetting the arduous admin work that comes alongside.
From sourcing an office space, to hiring and onboarding your new employees. There’s lots to consider, all whilst trying to maintain your day-to-day activities.
When you work with a PEO, all this gets taken care of. Your time to market becomes substantially reduced as we enable you to break into new international markets quickly and compliantly. There’s no wasting of your businesses’ time, energy or resources.
The entire process of global expansion can be costly. Not to mention time consuming. The cost of an office alone in London can be eye wateringly expensive, with the average costing upwards of £650 per person per month 3.
The cost of hiring and onboarding your new employees can be great to an organisation. Not only financially, but reputationally. It’s not only important to be able to hire the right staff, but to retain them once they’re on side.
By working with a PEO, they can help reduce your staff turner and improve employee satisfaction. So, you can be sure that your new staff are the perfect fit for your business.
Seamless global expansion
Even when you’ve set up your entity and you’re functioning abroad, there are plenty of ongoing plates to balance. From ensuring you remain compliant, to dealing with payroll admin, monthly reporting, risk management, employee retention and more.
A PEO can take full responsibility of these on the behalf of your organisation, enabling you to focus on the things that matter in your business.
Move your business forward with the right global expansion partner
As a tech company, there has never been a better time to capitalize on the opportunities within the sector. Through sourcing the right expert to facilitate your global expansion, your business will get ahead of the competition quicker, more cost-effectively and with confidence.
Contact us today to request a call back from a global expansion expert.