UHY Launches Essential New Guide for Business on Setting Up International Sales and Operations
Sterling Height, MI (PRWEB) July 26, 2013 -- UHY LLP, a member firm of the global accountancy network UHY, introduces an essential guide for companies planning to set up international sales and operations.
The guide is available in Issue 27 (attached) of International Business; UHY’s twice yearly look at the latest trends in business across the globe.
The guide provides comprehensive advice to companies – whether large or small – on all aspects of accessing today’s global markets, and a key focus for this edition is why businesses should take the plunge and go international.
“Governments around the world have recognised that facilitating cross-border trade is crucial to tackling the recession and putting the world’s economy back on track, and they have made major efforts to make it easier to do business internationally,” says UHY chairman Ladislav Hornan.
“Those businesses that are keen to take the plunge recognise that expanding to new markets creates a huge opportunity to secure long term growth and maximise profits through economies of scale and by becoming less dependent on the fortunes of any one economy.”
“Economic research consistently shows that companies which export to any country, in any financial climate, perform better than those which do not, and that has certainly proved true in this latest recession.”
Dennis Petri, Partner at UHY LLP, a member firm of UHY, comments: “Of course expanding your business abroad is a big step. Businesses looking to succeed can choose to do so with the help of our UHY network of professionals who can give extensive practical support and advice during the entire process.”
“UHY LLP and the UHY network have extensive experience and connections in taking companies through the different steps involved in the internationalisation process, from establishing in-country business contacts to researching the potential market, to addressing operational and trading issues and potential risks.”
Other areas covered by the guide include:
• How to get started – from initial research to planning and structuring the business
• Advice for companies on identifying their niche and how to exploit it in new international markets
• Risks and challenges for SMEs expanding internationally
• Tips on supporting the key staff that will help make the company’s international expansion a success
• An overview of the one-stop shop of advice and support that UHY’s global presence can offer, included dedicated International Desks working in close partnership with companies in their home markets
UHY points out that competing overseas usually involves greater risks than operating purely domestically, and requires a detailed understanding of uncertainties such as currency prices, payments, regulations, cultural matters, market structures and protocols. However, the potential benefits of a successful presence in international markets can hugely outweigh the risks of expansion, with successful international expansion helping businesses achieve:
• Increased growth beyond what is possible domestically – leading to economies of scale, such as larger production runs that reduce costs
• A competitive edge – exposure to intensive competition, new products and ideas, more efficient technologies and better working practices increase the company’s ability to compete
• Greater sales volume – translating into higher earnings, especially where margins in some markets exceed those in the domestic market, thereby increasing resilience of revenues and profits
• The ability to spread risks – while product sales in the home market may be in decline, those in overseas markets may be booming
• Higher profile and brand awareness – leading to increased reputation with existing customers and improved staff morale
• Spreading the exchange rate risk – for example, if a business does most of its trade in US dollars, it may want to start trading with Japan to spread the exchange rate risk between the dollar and the yen
• Increased commercial lifespan of products and services – increasing returns on investment in research & development.
UHY LLP and the global UHY network are ideally placed to help businesses assess and exploit global market opportunities, and minimise risks. Through UHY’s global presence across 270 business centres in 86 countries, UHY member firms are able to provide the on-the-ground knowledge and market insight which can be crucial for success.
The full content of the above articles can be viewed on http://www.uhy.com.
To learn more about the services and capabilities UHY LLP can offer, please contact Dennis Petri, Partner, at dpetri(at)uhy-us(dot)com.
ENDS
Editor’s Note: To schedule an interview or for further questions, please contact Shannon Gnesda at sgnesda(at)uhy-us(dot)com or 586 843 2637.
About UHY LLP
UHY LLP, a licensed CPA firm, provides audit and other attest services to public and private companies. UHY Advisors provides tax and consulting services to a variety of sectors. UHY Advisors FLVS provides forensic, valuation, intellectual property, electronic discovery and international arbitration services to law firms and their clients. Many of these services grew from client business needs and their requests for assistance in a variety of areas of expertise.
UHY LLP, operating in an alternative practice structure with UHY Advisors, forms one of the largest professional services firms in the U.S. While that scale might provide confidence for some clients, others tell us our greatest value is the way we bring these resources to bear to help address today’s evolving business challenges. It’s a philosophy we call “The Next Level of Service”.
All of the above entities are members of UHY International, a global network of independent professional services firms that provide audit, tax and consulting services around the world. UHY International member firms comprise one of the top international accounting networks in the world. As a member firm, we provide our clients with resources in business centers strategically located around the globe. We are an active member in this organization with significant participation that brings the power of an international network to bear for our clients.
UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors.” UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP and UHY Advisors, Inc. are U.S. members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHY international network. Any services described herein are provided by UHY LLP and/or UHY Advisors (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.
ABOUT UHY, THE NETWORK
Established in 1986 and based in London, UK, UHY is a network of independent accounting and consulting firms with offices in nearly 250 major business centres in 81 countries. Over 6,800 staff generated an aggregate income of US$625 million in 2011, ranking UHY the 25th largest international audit, accounting, tax and consultancy network (by revenue). Each member of UHY is a legally separate and independent firm. For further information on UHY please go to http://www.uhy.com. UHY is a full member of the Forum of Firms, an association of international networks of accounting firms. For additional information on the Forum of Firms, visit http://www.forumoffirms.org.
UHY press contact: Dominique Maeremans at +44 20 7767 2621 or d.maeremans(at)uhy(dot)com
Shannon Gnesda, UHY LLP, 5868432637, [email protected]
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