If your small business has exhausted all of the opportunities available in the UK, then you might have considered making the switch to a different country. In reality, there are a whole raft of reasons why you might take this decision. You might determine that the tax advantages offered by a foreign territory are too difficult to resist. Or, there might be new markets and specialised kinds of skilled labour available overseas that you can’t get in the UK.
Whatever the perceived advantages, any move of this kind is going to present a few difficulties. If your business is a large one, then these difficulties might be commensurately larger.
Let’s take a look at a few of the problems that businesses looking to relocate overseas might have to contend with.
Getting yourself settled into a new territory means abiding by whatever laws and rules are demanded by the government, both local and national. Some territories are eager to attract new business, and will make the laws accordingly simple. In other cases, you might not be so lucky. The best course of action, invariably, is to hire an expert legal consultant who’ll be able to help you step around the biggest regulatory landmines. Migrating the workers you need, similarly, may require expert input.
If your staff can’t speak the language of the new country, then they might be more reluctant to make the move there. You’ll have difficulty conducting your business on a day-to-day basis, and expressing your messages to would-be clients and suppliers. Getting your business up to speed with the language may require that you personally commit to learning the language, which might require many hours committed daily over many years.
It isn’t just language that separates people living in different parts of the world. There may also be cultural obstacles. If there are particular religious objections to the way that you do business, for example, then you may be in trouble. In other cases, the difficulty can be subtler. Getting a local consultant on board, again, will help you to stay aware of the potential problems.
Cost of Moving
We should also consider the physical cost of getting from one place to another. In the case of a small office-only operation, these might be a minor footnote; in the case of large factories with plenty of bespoke heavy machinery, they might be considerable. Make sure that you’ve done your homework before putting the move into motion.