Global business set up expert Aidan Healy offers timely tips on business expansion in 2021, even in the face of COVID

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As Healy states: “To expand or NOT to expand - that is the question!”

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Between COVID, the resulting global economic devastation, widespread civil unrest and even the recent Suez Canal blockage, no one predicted or planned for what the world is experiencing, states Healy.

Aidan Healy, founder and Chairman of Healy Consultants, is a global business start-up and expansion expert who advises entrepreneurs, business executives, companies and governments around the world. He is now urging his clients to review their start-up and expansion plans for this year.

“Between COVID, the resulting global economic devastation, widespread civil unrest and even the recent Suez Canal blockade, no one predicted or planned for what the world is experiencing,” states Healy. “The environment is more unpredictable than anything we’ve seen in our collective lifetimes. But that does not mean we can just put business expansion on pause.”

With recent positive developments on the world stage, including a new American president, record stock market highs and COVID vaccination rollouts, Healy sees rays of sunlight emerging, and the makings of a revived world economy. As a result, he urges executives around the globe to give serious consideration to the crucial decision to either expand their businesses, including outside the United States or sit tight and wait.

Healy Consultants specializes in helping American and other companies expand abroad, where their extensive experience is crucial in navigating, including with language and cultural differences, international tax, compliance and regulatory issues, not to mention packaging issues and local competition.

Regardless of their decision, Healy believes business leaders must, says Healy, balance common sense and prudence while staying true to their entrepreneurial spirit. “Leaders must do their homework and plan next steps to ensure their competition doesn’t eat their lunch while they shelter in their basement waiting their turn for the COVID vaccine,” he states.

Q&A with Aidan Healy

Q: How can you expand your business overseas if you’re barely allowed to leave the house?
A: Engage local experts who can be your ‘eyes and ears on the ground. That’s really crucial, especially at this time when international travel is constricted.

Q: In the future, will we effectively be running businesses “from our kitchen tables”?
A: Even with the vaccine rollout and the most optimistic scenarios, COVID-19 will be with us through 2021, so we must continue to adapt to remote working. Are you prepared to do this? Going one step further, are your remote operations capable of taking on an expansion? If not, proceed with realism and caution. Certain companies have experienced increased productivity with a remote workforce, but that’s far from guaranteed. There’s no point taking unnecessary risks this year if you’re just not set up yet to work remotely.

Q: Does paying rent and other office expenses even make sense in the COVID and post-COVID era?
A: Business leaders need to give serious consideration as to whether their bricks-and-mortar offices are still necessary. If not, there are savings on the table. Think about today’s amazing communications technology and consider what commercial office space you really need going forward. You can’t afford to be sentimental and should probably face the reality that daily lunches with your team around the conference room table like “in the old days” may be history. Your business needs to be lean to compete. Large and costs for unnecessary office space makes no sense.

Q: What is “Decentralized Finance” and how do you take advantage of it in the COVID era?
A: Many business owners now use capital markets to raise money to expand and gain a foothold in new geographical areas. But with the destruction wrought by COVID, some markets are jittery, which introduces complications for businesses that want to expand. Other companies are successfully turning to blockchain technology and crowdfunding for these needs. Such newer, more decentralized financing options have their own strengths and weaknesses compared to traditional channels and they are worth exploring in 2021.

About Aidan Healy
Based in France, Aidan Healy counsels entrepreneurs and executives from around the world on their 2021 expansion plans. Born and raised in Ireland, Healy established Healy Consultants Group PLC in Singapore in 2003. He began as a consultant at Ernst & Young, Bahrain, then became an Assistant Vice President at Credit Suisse Group. Healy graduated with a Bachelor of Arts degree in Accounting and Finance from Dublin City University.

About Healy Consultants Group PLC:
Global business set-up experts since 2003, Healy Consultants Group PLC offers a wide variety of consulting services to companies around the globe, including Company Registration, Accounting & Tax planning, Advisory Services, Banking Solutions, Company Migration, Crypto-solutions, and Legal Solutions. Learn more at http://www.healyconsultants.com

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