Category Archives: International News

Global Trade, International News, News

Global Trade Activity Shows Green Shoots of Recovery, Led by Strong Growth in China and the US

LONDON – 17th April, 2024 – New data from Tradeshift’s Q1 Index of Global Trade Health paints an encouraging picture for global trade, with robust growth observed in China and the US, alongside indications of a rebound in global demand for manufactured goods.

Total transaction volumes across the Tradeshift network, used by over a million businesses worldwide, improved by one point compared to the previous quarter, landing three points below the anticipated range in Q1. While this marks the ninth consecutive quarter of growth below expectations, it also signifies the third consecutive quarter of upward momentum after a prolonged period of sluggish activity.

“We’re seeing successive quarters of strong order volume growth for the first time in two years,” said James Stirk, CEO, Tradeshift. “Demand levels seem to be recovering, but there’s still a fair way to go before we start to see a normalisation. Recovery is likely to remain fragile over the short-to-medium term, with factors such as the Red Sea crisis and wider geopolitical uncertainty clouding the picture.”

Key regional and sector-based indicators from the report include:

  • China turnaround: Trade activity in China rose at the most significant rate in Q1. Transaction volumes grew at two points above the expected level, the highest in more than two and a half years.
  • US moves up a gear: The US also continued gaining momentum in Q1, with total trade activity tracking one point above the baseline. Order volumes surged to an impressive seven points above the expected level, following growth of a similar level in the previous quarter.
  • Manufacturing recovery: Tradeshift sees growth coming in part from an uptick in demand across the manufacturing sector where trade activity tipped back into the expected range for the first time in a year.
  • Eurozone edges higher: Activity levels across the Eurozone improved to three points below the baseline in Q1 having sunk as low as nine points below that level just six months earlier. New orders grew at six points above anticipated levels.
  • UK orders disappoint: UK trade activity improved to four points below the expected level in Q1, but order volumes were sluggish, tracking five points below expectations.

While a sustained recovery in orders is suggestive of more favourable trading conditions, liquidity challenges persist for suppliers, posing a potential challenge as supply chains look to ramp up activity. Although invoice payment times have decreased since their peak in Q3 2022, suppliers still face a 6% longer wait compared to the pre-pandemic era.

“Cash flow is akin to fuel in supply chains and a lot of suppliers will be running on empty after two hard years,” added Stirk. “The longer suppliers have to wait to turn invoices into cash, the greater the likelihood that an influx of new orders starts to outpace the availability of working capital to fulfil demand.”

A new joint venture between Tradeshift and HSBC, due to launch later this year, will focus on helping businesses accelerate access to working capital through a range of embedded financial services, including data-driven invoice financing.

 

Business Advice, International News, News

Startup Sherpas Ready to Empower One Million Teenage Entrepreneurs Globally by 2029 with Proven Startup Training Platform.

Barcelona, Spain – 20th February 2024: In a significant move to globalise its startup training platform, Startup Sherpas has unveiled its new Barcelona office within the vibrant Tech Barcelona.

This strategic expansion marks the beginning of its mission to extend its successful combination of junior apprenticeships, paid work experience and Young Founder Training beyond the UK, targeting young entrepreneurs across the Mediterranean – with the aim of venturing into Latin America. The exciting news of who will be heading the Barcelona office will be released shortly.

This move has been supported by the British Embassy and the Spanish Government, who see the global need for entrepreneurial education as a key priority.

Startup Sherpas has crafted its educational approach with global scalability at its core. The model, which merges practical paid work experience with startup training, has already celebrated remarkable success in the UK. To date, nearly 5,000 young people have completed the programme – and Startup Sherpas is on track for a further 10,000 participants in 2024.

Startup Sherpas equips young individuals with the tools necessary to emerge as the next wave of innovators, poised to tackle global challenges such as climate change, sustainable food systems and a stable global economy.

Katherine Walker, Chief Impact Officer at Startup Sherpas, said: “Having proven its effectiveness in the UK, our platform is now set to make its mark globally – beginning with the Mediterranean and Latin America.

“The Barcelona office embodies our commitment to fostering a generation equipped to create the future we all envision,” she added.

The organisation is keen to adapt and customise its highly successful UK-based model to align with the distinct cultural and economic contexts of the Mediterranean and Latin American regions. This expansion underlines Startup Sherpas’ dedication to forming a global network of one million young entrepreneurs by 2029.

Hugo Pickford-Wardle, Co-founder of Startup Sherpas, highlighted: “Given that 40% of our participants access the platform via mobile phones, it’s fitting to launch our next phase at the Mobile World Congress in Barcelona on Thursday 29th February.”

“The support from the British Embassy and the Spanish government also underscores the timeliness of our expansion.”

Sarah Roles-Ndibe, Head of Technology & Financial Services at the British Embassy, shared her enthusiasm. “Supporting Startup Sherpas’ expansion into Barcelona aligns perfectly with our mission of promoting innovation and collaboration between the UK and Spain,” she said.

“Its venture into the Mediterranean and Latin America underscores the universal demand for entrepreneurial education and the global influence of innovative UK enterprises.”

The organisation’s work in the UK, including partnerships with the Tax Office and Accenture to address Cyberbullying and scams, sets a precedent for its international efforts.

Its impactful work has garnered acclaim from partners and media alike, including Allianz and the Financial Times. A testament to its success, a group of teenagers from the programme is shortly showcasing their work at the Financial Times headquarters in London.

Startup Sherpas invites media, potential partners, and interested parties to support its mission to empower the next generation of global innovators.

International News, Marketing, PR and SEO, Recruitment, Recruitment News, South East England News, South West, USA, Web Design, Wiltshire News

Recruitment expert aided in US expansion by creative agency’s new brand and website project

NOTTINGHAM-BASED recruitment agency Distinct has been aided with a push into markets further south and in the US by a redesigned website and an updated brand.

Distinct, which specialises in recruitment for roles within finance, HR, marketing, IT and office support and supply chain and procurement, is opening an office in London to mount an expansion into the south and is about to open another in Boston to capitalise on its rapid growth in the North American market. It turned to Wiltshire design agency Milk & Tweed for its new brand look and an upgraded website with functions to help both clients and job hunters.

Milk & Tweed, which has offices in Chippenham and Brighton in Sussex, is building a reputation for excellence in website, brand and logo design and digital marketing.

Distinct Marketing Director Amy Robinson-Nunn said: “We’ve got exciting expansion plans in both London and North America, whilst also pushing to stand out in quite competitive markets. So, one of the things we wanted to do was make sure that our brand and our website supported this strategy.

“We wanted something that was fresh, confident, clean and modern, whilst still retaining the core of what the brand has always been – I think that’s been achieved here.”

Milk & Tweed’s design team refreshed the Distinct logo to give it a more modern feel, sharpened the colours and used cleaner typography. “While it’s not been radically transformed, these changes have made it look totally different,” said Ms Robinson-Nunn.

The agency’s website has been redesigned and features two new user-friendly tools. “For a candidate being offered a job, one of the first things you want to do is work out your take-home pay, so we’ve got a salary calculator where they can insert their wage and then the tax, student loan and pension deductions are calculated to leave the exact amount they’ll receive in their bank account,” said Ms Robinson-Nunn.

“On the flip side for our clients, we’ve got a wage insights tool which uses live data from the last 12 months, so if they are advertising a job in a particular area, the tool will display the going rate for that job title in their chosen location.”

She said the agency is delighted with the new site. “The development team in particular have been incredible,” she said. “Milk & Tweed’s Web Manager Jon Mynette has been leading the way for us from a development point of view and he’s been fantastic to work with.

“I think they’ve created something that I am genuinely proud of and would recommend them to others.”

She said the new website is particularly important, given Distinct’s ambitious expansion plans. “We’re really taking hold in the US and we’re working in roles within the public accounting and legal sectors,” said Ms Robinson-Nunn.

“We started off in New York and have since moved into Massachusetts, Rhode Island, Virginia, Maryland, New Jersey, Texas, Pennsylvania, New Hampshire, Illinois, Florida, Connecticut and Ohio, so we’re opening an office in Boston to further strengthen our operation in the US.

“Our refreshed brand and new website help us to stand out from our competitors and will certainly support our new strategy and exciting expansion plans.”

Milk & Tweed Web Manager Jon Mynette said: “The project was amazing to work on and the team at Distinct were great to work with because they were so organised, driven and ambitious. It really pushed us as a team and I’m very proud of the work we’ve done and the results we’ve achieved.

“Distinct had some amazing ideas around how they wanted their site to be presented and perform. It meant we had to push the boundaries of how we usually build, which I always enjoy. I must give a special mention to the lead designer Jon Francis and lead developer Sam Jones, who have both done fantastic work on the project. Without them we wouldn’t have been able to achieve what we have.”

—

Pictured: Recruitment agency Distinct turned to creative agency Milk & Tweed to help prepare it for an expansion into the south of England and further into North America

International News, News, Overseas Finance, Tax

3 in 5 UK Businesses Avoid International Expansion Due to US Sales Tax Complexity

  • 60% of UK businesses have decided not to expand into the US because of sales tax complexity
  • While 80% of UK business leaders believe that tax complexity is one of the greatest burdens facing their organisation.
  • This ongoing tax complexity struggle for UK businesses comes on the eve of the 250th anniversary of the Boston Tea Party, where the transatlantic relationship between Britain and the US came to a head over the taxation of tea.

Avalara, Inc., a leading provider of cloud-based tax compliance automation for businesses of all sizes, today released findings from a new survey* of UK-based businesses around the complexity of US sales tax. The survey found that sales tax complexity is hampering British businesses expanding into the US, with 60% of UK business leaders deciding not to expand into a new market or sell a new product in the US due to the complexity of dealing with additional compliance.

“International sales tax complexity continues to stump UK businesses and is causing many to hold on plans to sell their goods and services into the US, which is hurting the economy on both sides of the pond,” said Alex Baulf, Vice President of Global Indirect Tax at Avalara. “Thankfully there is a solution that does not involve throwing tea or other goods into the Thames.  UK businesses can save time and money by turning to automated tax and compliance solutions like Avalara that are designed to streamline tax calculations, tax filing, and tax record management – removing international sales tax complexities and freeing up time for growth and expansion.”

 

Sales tax is curbing UK business growth

The 16th of December marks 250 years since the Boston Tea Party took place, where the transatlantic relationship between Britain and the US came to a head over the taxation of tea. Hundreds of years later, sales tax complexity continues to put a strain on UK businesses expanding operations to the US. In fact,  65% of UK tea merchants reveal that — in a post-Brexit environment — US sales tax is harder to navigate than selling into Europe. This is despite 9 in 10 UK business leaders seeing the US as a key market for their operations.

Complexity is costing UK businesses time and money

Failing to keep up with the complexity of sales tax, over a third (36%) of UK business leaders have faced fines or penalties due to unintentional non-compliance with sales tax obligations. As a result, a third (33%) have paid up to £1,000 in fines in the last 12 months.

Tax complexity as a whole is costing businesses time. Over a third (35%) of UK business leaders spend up to 10 hours per month on tax compliance on average. As a result, 8 in 10 (83%) UK business leaders argue that sales tax complexity has become one of the greatest burdens facing their business. In fact, three quarters (76%) of UK business leaders reveal that staying compliant with sales tax makes them anxious.

To help businesses calculate their sales tax and shoulder the administrative burden of staying compliant, 77% of UK business leaders say they’d lean on technology, such as AI, to reduce sales tax and cross border tax complexity.

To learn more about the impact of sales tax complexity on UK businesses, please click here.

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About Avalara

Avalara makes tax compliance faster, easier, more accurate, and more reliable for 30,000+ business and government customers in over 90 countries. Tax compliance automation software solutions from Avalara leverage 1,200+ signed partner integrations across leading ecommerce, ERP, and other billing systems to power tax calculations, document management, tax return filing, and tax content access. Visit avalara.com to improve your compliance journey.

 

*Methodology

Research was conducted by Censuswide by surveying 300 UK decision-makers in general businesses and retailers (in small to medium size companies i.e. up to 240 employees), who have a basic understanding of tax regulation and sell goods across the UK / globally between  Nov 9th – Nov 21st.

 

Research was conducted by Censuswide by surveying 102 UK decision-makers who say their company sells tea and sells products internationally between Nov 9th – Nov 21st.

Business & Property News, Global Mobility, International News, Logistics, News

Bristol’s 1st Move International reveals the Top 40 global destinations that UK expats are moving to

Middle Eastern countries are rising rapidly up the table of desirable destinations for Brits moving abroad, according to figures by a leading international removals firm.

Data from Bristol-based 1st Move International show Saudi Arabia and the United Arab Emirates becoming increasingly popular expat destinations, with the UAE displacing the likes of Canada and New Zealand at the upper end of the table.

Analysis of more than 40,000 international moves since 2019, including over 6,000 in 2023, paints a fascinating picture of where Brits are choosing to move to post-Covid.

As ever, the USA and Australia are at the very top of the list, with more than 1,000 moving to each destination this year alone. Next up is the UAE, which has climbed to third in the table, followed by Canada and New Zealand.

Cyprus jumps one place to sixth, with South Africa falling behind in seventh, before a static Singapore in eighth, Brazil in ninth and Saudi Arabia climbing one place to tenth.

Further down the table, big movers include Barbados, jumping 22 places to claim 18th place, Costa Rica up 22 to 23rd, the Bahamas up 21 to 25th, Trinidad and Tobago up 11 to 27th, Hong Kong up 12 to 32nd, Panama up 24 to 33rd and the Dominican Republic up 58 places to 35th.

Other popular destinations featuring in the top 40 include Turkey, Thailand, the Cayman Islands, Jamaica, and Japan. 1st Move International does not operate in mainland European destinations.

Mike Harvey, managing director of 1st Move International, said: “We wouldn’t divulge individual reasons for moving, but anecdotally we are clear that our customers are citing many benefits of moving to destinations like the Middle East, as well as the Caribbean.

“An obvious one is the weather, with a dry and sunny climate all year round, alongside a high standard of living and an already large population of British expats to socialise with.

“Economically, there is significant development in countries like the UAE and Brits moving there can enjoy tax-free salaries in job sectors such as finance, healthcare and education.

“Inflation is currently sitting at just over 2.2%, which is much lower than the UK and other EU countries, with the Dirham being pegged to the US Dollar providing exchange rate stability.

“The Middle East is also a central location for travel to Europe as well as Asia and Australasia, making it a good base for travel-minded professionals.”

Mr Harvey explained that the increasing number of moves to desirable locations like the Caribbean could be due to people’s change in perceptions of what is possible, post Covid.

“To move a whole family abroad might be something of an undertaking,” he said. “But for many people without family ties the ability to work remotely means they can easily and practically live anywhere in the world. In fact, even moving with a family is not perceived as arduous a task as it used to be.

“We hear of people deciding they can make things work in a far-flung destination with a warm climate, blue skies and sunny beaches – coming back to the UK occasionally if necessary but generally based somewhere like Mexico, Bermuda or Thailand.

“And in an urban context, if you look at indexes like the Numbeo Quality of Life Survey then you’ll see places like Abu Dhabi rising rapidly up the scales.

“In terms of perception, something which 50 years ago might have seemed like a major life move can now be managed much more easily.”

The company said that while all moves are personal rather than corporate, many are often managed and reimbursed by employers as part of a business move abroad.

1st Move International are based in Avonmouth, Bristol and have been managing international removals for over 25 years.

For more on this topic please visit www.shipit.co.uk/blog/international-moving-trends-2023 or www.shipit.co.uk.

AI, International News, Music, Tech, Technology

Cyanite launches Cyanite for Innovators to foster unique innovations in music and AI

Cyanite, one of the world’s leading AI companies for music analysis and recommendation has launched Cyanite for Innovators, a partnership initiative aimed at fuelling creativity and innovation in the fields of music, AI, and the creative arts.

Through this programme, Cyanite aims to make a positive impact on the worlds of music and technology, by supporting passionate innovators.

Cyanite for Innovators will support individuals and teams from diverse sectors, including NGOs, the arts, research institutions, not-for-profit organisations, grassroots movements, and creative coding communities.

Successful applicants to Cyanite for Innovators will gain access to  Cyanite’s API and technology, early access to prototypes, and the team’s expertise providing them with a unique opportunity to bring their music and technology ideas and projects to life.

The Cyanite for Innovators program has no maximum numbers of participants, and projects will be supported for at least 12 months.

 

Markus Schwarzer, CEO of Cyanite, said:

“I am happy that we are launching Cyanite for Innovators. In the past four years we have seen many incredible projects coming to life based on the free access to the Cyanite API. There are countless ground-breaking innovations in the music industry and with the help of our AI technology we can help emerging talent push the envelope of what is possible. This programme is our commitment to supporting the visionaries who seek to shape the future of our industry.

“We hope to continue empowering innovators by providing them with access to our AI technology, and ultimately create a positive ripple effect across our industry and beyond.”

 

The latest project to be supported by Cyanite and launched at the end of the year is TBC Radio, an independent community radio station from New Zealand.

One of their founders James McGregor-MacDonald says: “Cyanite’s cutting-edge music tagging and analysis tools have been a game-changer for us at TBC, a small independent radio station. Their generous support has empowered us to curate music on a scale we never thought possible, truly democratizing access to world-class tools.”

 

Cyanite for Innovators builds on Cyanite’s existing support for a diverse range of projects focused on innovation and creativity:

  • Kaloyan Madzhunov – Graduation project for ICT & Media Design at Fontys in Eindhoven. An innovative AI film music discovery tool supporting filmmakers finding perfect music for their projects (2023)
  • Josefa Rackl – “Synergy”, a generative design system for music visualizations using AI. A Master’s project on the subject of Interactive Media Systems at Technical University Augsburg, Germany. (2022)
  • vi · son – Mixing Senses, 2021, a digital exhibition that explores multisensory perception of music in the digital age. (2021)
  • Rehaan Mazid – An AI-powered music discovery app named Songified by Developers Student Club at Vellore Institute of Technology, India. (2021)

 

Interested participants may submit a detailed proposal via this link outlining their project objectives, timeline, and expected outcomes. Once you have successfully handed in your application, please confirm it via innovators@cyanite.ai. Please allow Cyanite four to eight weeks to screen your application and get back to you.

 

Applicant requirements and expectations

  1. Eligibility: Open to individuals and teams from NGOs, research institutions, arts, not-for-profit organizations, grassroot movements, and creative coding communities, worldwide.
  2. Project Focus: Projects should involve the innovative use of AI technology in the music and audio domain, such as music tagging, content analysis, recommendation systems, or creative applications.
  3. Impact and Purpose: Applicants must demonstrate that their projects would provide a clear and positive impact to the music industry, society, arts and culture, or related fields.
  4. Diversity and Inclusion: Our aim is to represent a wide diversity of people and projects, so we keenly encourage those from diverse backgrounds, members of LGBTQ+ communities, and those from minority backgrounds, to apply.

 

International News, Property, USA

Coming To America: Why Soaring Numbers Of British Property Investors Are Now Looking Stateside

The current volatility in the UK housing market is leading to more and more British investment in the US, a leading expert has said.  

Alistair Brown, from Alistair Brown International Real Estate, says the current domestic challenges buy-to-let investors face will see growing interest in the American market right into 2024. 

He said: “There’s no doubt that the current nature of the UK housing market is driving interest from British investors in property state-side. 

“Fluctuating house prices, a shortage in rental property, and a continued slowdown in housebuilding doesn’t create a good environment for investors. Neither does Government legislation which makes life more difficult for landlords to buy and then rent out properties.  

“This year there has been a sharp rise in the number of people looking to America, and Florida especially, for buy-to-let investments.  

“Many are attracted by the idea of a relocation, and a change in lifestyle as well as securing a holiday property which can double up as a revenue generator.  

“The biggest advantages state-side right now for buyers is simplicity. It’s not a difficult process, and there is a good value currently which isn’t the case in the UK. 

“For renters, supply is plentiful in many markets, plus there has been a real growth in product design and development. This means people can rent homes which come with a high standard of amenities. 

“I can only see this demand growing over the next 12 months. Florida will continue to see a high level of investment from international buyers who are looking to relocate in search of a better climate, good employment opportunities and lower taxation.”

Mr Brown said there are four main pieces of advice he’d offer anyone looking to invest in the US. 

“Start by properly understanding how you want to use a property and why. Be careful with the destination you go for, especially if you are going to depend on rental income.

Select a property management company carefully if you are using one. And make sure you get a reliable and trustworthy  licensed real estate agent.” 

Commenting on how he sees the domestic property market faring over the next 12 months he added: “After a difficult few months, it’s now likely that UK residential home borrowers will continue to see improvement in terms of rate and availability of mortgage products over the next year. On the flip side, it will be harder for buy to let investors, I think.  

“Some mortgage providers are now lowering rates on some products. By lowering rates, it allows those who are on fixed-term loans to refinance at better rates. It also allows many homeowners who are sitting in homes they would like to move from, to now buy that next home they wish, but at better rates. 

“While the Bank of England’s hold on the last review should be welcomed,  we need another stabilising announcement to further support the market.”

International News, Recruitment, Recruitment News

SmartRecruiters Expands its Reach in APAC with the Launch of a New Australia Data Center Hosted by AWS

SmartRecruiters, the industry’s leading All-in-One Hiring Platform, is excited to announce a significant milestone in its global expansion strategy.  The company is proud to unveil its latest endeavor – the launch of a state-of-the-art data center in Australia, hosted by Amazon Web Services (AWS). This expansion marks a strategic move to better serve clients in the Asia-Pacific (APAC) region, ensuring greater reliability, scalability, and security for their data needs.

The new Australia data center represents SmartRecruiters commitment to meeting the growing demand for data services in the APAC market. This facility leverages AWS’s cutting-edge infrastructure, offering businesses in the region the opportunity to access advanced cloud computing and data storage solutions while adhering to the highest industry standards for security and compliance.

Key benefits of the new Australia data center include:

 

  • Enhanced Data Accessibility:
Clients in the APAC region will experience reduced latency and improved data accessibility, resulting in faster response times and a better overall user experience.
  • Scalability:
The new data center allows SmartRecruiters to scale its services seamlessly, accommodating the evolving needs of businesses across various industries.
  • High-Level Security:
Security is a top priority at SmartRecruiters.  The Australia data center is equipped with robust security measures to protect clients’ data, including advanced firewalls, encryption, and continuous monitoring.
  • Compliance:
SmartRecruiters ensures that all data center operations are fully compliant with relevant data protection and privacy regulations, providing clients with peace of mind.

Reliability: 
With redundancy and failover mechanisms in place, our growing customer base in the region can trust that their critical data and applications will remain accessible even in the event of unforeseen disruptions.

 

“This expansion is a testament to our dedication to meeting the evolving needs of our clients in the APAC region. By providing them with a world-class data center that leverages AWS’s expertise, we are empowering businesses to innovate and grow while ensuring their data remains secure and accessible.  I’m beyond proud to see how far we have come in the region after only a short few years,” said Rich Lewis-Jones, VP of APAC.

 

SmartRecruiters is confident that this strategic expansion will further solidify its position as a global leader in the talent acquisition space.  With the new Australia data center, the company aims to foster innovation, enable digital transformation, and support the growth of businesses throughout the APAC region.

To learn more about SmartRecruiters and the company’s commitment to the APAC region, join us at HS APAC 2023 in Sydney.

 

About SmartRecruiters

SmartRecruiters enables Hiring Without Boundaries™ by freeing talent acquisition teams from legacy applicant tracking software. SmartRecruiters’ next-generation platform serves as the hiring operating system for 4,000 customers like Bosch, LinkedIn, Skechers, and Visa. Companies with business-critical hiring needs turn to SmartRecruiters for best-of-breed functionality, world-class support, and a robust ecosystem of third-party applications and service providers.

For more information visit www.smartrecruiters.com or www.linkedin.com/company/smartrecruiters

 

Business Expansion, International News, News

Why An Employer Of Record Is Key To Helping Businesses To Expand Overseas

MANY growing and ambitious businesses will strive for global expansion at some point in their growth trajectory.

To succeed you will need to expand into new markets, grow your business presence, increase margins, and enhance your overall business operations.

And one of the key solutions that employers can add to their arsenal is the use of an Employer of Record (EoR), which helps to simplify hiring and paying an employee in a new state or country.

By using an EoR, businesses can free up time and resources and shield themselves from compliance and legal risk.

One of the leading experts in this field is Steve Malley, Global Director of EoR at HSP Group.

Here, Malley explains why an EoR should be an essential part of any global expansion strategy – and sets out how the HSP group helps its clients to utilize its benefits.

 

What is an EOR?

An EoR is a third-party organization that acts as the full legal employer of an employee while they do work for another company. An EoR assumes employment responsibilities, legal risks, and compliance responsibilities. It hires employees, executes payroll, administrates benefits and manages other HR functions on your behalf.

An EoR can greatly simplify hiring and paying an employee in a new state or location. By using an EoR, businesses can free up time and resources and shield themselves from compliance and legal risks.

 

Why is it important?

Serving as a swift-to-implement and risk-mitigating strategy, EoR facilitates businesses in accessing a new talent pool across different countries or regions, eliminating the necessity for establishing a complete legal entity. When executed accurately, this approach carries no potential for contravening local employment or tax regulations.

Navigating unfamiliar employment and tax laws in foreign jurisdictions can expose businesses to substantial risks. However, EoR acts as a protective shield, ensuring full compliance with local regulations. With EoR, companies can confidently operate within the legal framework, minimizing the potential for costly penalties or legal entanglements.

It’s also worth mentioning that especially for start-up businesses, EoR solutions allow businesses to set up in different markets with a leaner financial footprint.

Right off the bat, there’s so many benefits to EoR, but you must make sure you have the right provider onboard to help you achieve these.

 

What to consider when picking an EOR provider:

The industry has been inundated with service providers that have been coming to market with their own version of the truth, and so decision makers are flooded with information.

Whilst this can be a great thing, allowing you to evaluate all these opinions, such as some people advising on whether it should be direct or non-direct EoR, or lengths of time to employ people in certain countries, it can overcomplicate the process.

Therefore, business owners should aim to find an experienced provider that can not only ensure the minimum requirements such as compliance, but also simplify the process.

Businesses should also consider the transparency of the provider, its knowledge and expertise of different markets, its global mobility, and workforce solutions.

 

How HSP has created a model to effectively deliver EOR solutions:

HSP has four main offerings as part of our overall EoR solutions:

HSP EoR Offerings
EoR Evaluation – a HSP consulting project to help a customer evaluate if EoR is the right or the wrong answer for them, given their objectives and other available solutions in the market.
Solutioned EoR – HSP ‘white-labeling’ 1 of 3 EoR partners that have been selected through a lengthy RFP exercise.  We will have personas for buyers and EoR providers to better align which EoR provider the work is sourced with based on the buyer profile.
Supported EoR – a ‘managed service’ HSP offering, whereby we sit between the end customer and the EoR provider to ensure the customer has a fully optimized experience.
EoR Graduate – HSP assists a customer with establishing/running their own infrastructure and moving away from the EoR model.  This likely includes some version of setting up an entity, managing registrations, assisting with setting up a bank account, managing payroll, and statutory accounting and tax.

 

To find out more about HSP Group and how it can assist with global expansion, particularly through the use of EoR solutions, visit the website today at https://www.hsp.com/eor

International News, Investor Advice

Bitcoin Trading System Impacts on the Businesses of Angola

The emergence of Bitcoin trading systems has influenced many businesses in Angola in various ways. For starters, the technology has brought about new opportunities for entrepreneurs seeking to venture into the world of digital currency trading. A significant number of businesses have started accepting Bitcoin as a mode of payment, providing customers with greater flexibility and convenience when transacting. Visit and Immediate Connect for further information.

Bitcoin trading systems have also made cross-border payments easier, faster, and less costly for Angolan businesses operating globally. Previously, businesses had to deal with cumbersome banking procedures and significant fees when sending payments abroad. However, with the adoption of Bitcoin, businesses can now send payments anywhere in the world within minutes, with much lower transaction fees compared to traditional banking methods.

Besides, Bitcoin trading systems have improved the security of financial transactions for businesses in Angola. In recent years, the country has experienced high rates of cybercrime, with many businesses falling victim to hacking and fraud. Bitcoin’s blockchain technology has introduced a new level of security to financial transactions, making it difficult for cybercriminals to tamper with the transaction records.

Another significant impact of Bitcoin trading systems on businesses in Angola is the potential to leverage blockchain technology for supply chain management. Given Angola’s rich natural resources, the country could benefit significantly from enhanced supply chain transparency, which is made possible through blockchain technology. Businesses could track their products from origin to the final consumer, ensuring quality control and reducing the risk of counterfeit products entering the market.

Despite these benefits, Bitcoin trading systems come with some risks that businesses in Angola need to be aware of. The cryptocurrency market is highly volatile and subject to fluctuations, making it a risky investment. Additionally, the lack of regulation in the cryptocurrency market makes it susceptible to fraudulent activities, and businesses should be vigilant when trading in Bitcoin.

In conclusion, Bitcoin trading systems have brought about significant changes in the business landscape in Angola. The technology has introduced new opportunities for entrepreneurs and improved efficiencies in cross-border payments, financial security, and supply chain management. However, businesses need to be aware of the risks involved and exercise caution when trading in cryptocurrencies..

Benefits of Bitcoin Trading in Forex:

Bitcoin trading has become increasingly popular in the forex market, with more brokers and traders adopting it as a mode of investment. There are several benefits of using bitcoin for forex trading, which has made it a game-changer for businesses across different industries.

One of the main advantages of bitcoin trading in forex is its decentralized nature, which eliminates the need for intermediaries such as banks and financial institutions. This means that traders can carry out transactions directly and securely, without any third-party involvement. As a result, transactions are faster, cheaper, and more reliable, making it an attractive option for businesses that want to reduce their transaction costs.

Another benefit of bitcoin trading in forex is its high liquidity. Bitcoin trades 24/7 in various markets across the globe, making it one of the most liquid assets in the world. This allows traders to easily buy and sell bitcoin at any time, which is crucial in the fast-paced forex industry. Furthermore, this high liquidity also means that large trades can be executed with ease, making it an ideal asset for businesses that want to carry out large transactions quickly and efficiently.

Bitcoin trading also provides businesses with greater transparency, as all transactions are stored on a public ledger known as the blockchain. This means that businesses can track their transactions in real-time, and have greater control over their finances. Furthermore, the blockchain also provides greater security, as all transactions are encrypted and cannot be altered or reversed, providing a level of trust that is essential for businesses that want to carry out secure transactions.

Final Words:

In conclusion, Bitcoin trading systems have had a huge impact on the businesses of today. They provide improved security and transparency while also allowing companies to save money by removing middlemen from transactions. Additionally, these systems can be used as an innovative way for businesses to earn passive income through automated trading strategies. As with any new technology, it is important to understand the potential risks associated with blockchain-based payment systems before investing in them. However, when implemented correctly and responsibly, Bitcoin trading system technologies offer great promise for business owners looking for ways to streamline their operations and increase profitability.