Brian Laidlaw
Tait Walker
Ask the Expert: Moving into new territories
Brian Laidlaw, business services partner at Tait Walker, provides guidance on the best places to find international trade advice.
Q: The internet is a great source of information, but can businesses use it to their advantage before moving into a new territory?
Using the internet to research new territories is a very sensible idea. Many countries now have government sponsored websites setting out the advantages of investing or doing business in that jurisdiction, which include information about record keeping requirements and registering for taxes etc.
For example, we were recently assisting a client who was contemplating opening an office in Norway and we directed them to a comprehensive website run by the Norwegian Ministry of Trade & Industry. Whilst we could have referred them to one of our affiliated offices in the region, this alternative source of free information was ideal for the company’s finance director, who could browse the content at leisure and form his own shortlist of questions for additional professional advice and assistance.
However, there are limitations as to how useful the internet can be and there is still no substitute for getting proper local advice when putting a business plan into action. And what is important to remember is that, in some jurisdictions, the information required to be successful isn’t written down anywhere as a formal policy!
Many countries are more up front about keeping business “local” than we are in the UK. For example, companies doing business in Brazil often find that they come under pressure at an early stage from their customers to use local manufacturing. Even a country as openly “free trade” as the United States has “Buy America” provisions, ensuring that American-made goods and materials have preference over imports for government procurement and infrastructure projects.
The reality is, as ever, that having an effective “in country” adviser who knows the right people to talk to and can add local practical knowledge will add more value than any website can. Using networks in the North East to find other companies who have already done business in your country of interest can also be invaluable. No-one gets everything right first time, and people who have already taken the plunge are often all too happy to tell you what they’d do differently if they were to do it again!
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About Brian
Brian joined the Tait Walker Business Services team in 1997 and became a partner of the firm in 2008. He is responsible for a portfolio of audit clients and has expertise in the areas of international trade, education and the specific sectors of engineering companies, motor dealerships and academies.
Contact Details
Brian Laidlaw
Business Services Partner,
Tait Walker
brian.laidlaw@taitwalker.co.uk
0191 285 0321
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