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David Griffiths
Owen Jones
Julia Summerville
Been there, done it – successfully
While advocating immersion within US culture, David Griffiths noted that his British accent was a great asset in gaining initial meetings. Four years after successfully setting up US operations for Fiscal Technologies, he advised ensuring the UK operation remained well-managed, then sending out an entrepreneurial leader with 2-3 key support personnel to establish a sensibly located first-base, then targeting sales state by state.
“We were small but that was powerful. We could react quickly and alter our approach.” Competition proved a catalyst for improving Fiscal’s product offering and US operations.
Direct not channeled sales proved best for his software-based company. Fiscal got closer, explaining and selling- in business benefits, to potential customers.
UKTI had been “brilliant help.” US office space quality, and travel efficiency were
cost-effective bonuses. “Set-up can be cheaper than you think.”
A wider US talent pool has eased recruitment, but “selecting the right people is the big issue as we aim to build a great American company.”
Taxing problems
Julia Summerville suggested that the US Internal Revenue Service is arguably more draconian than the UK’s HMRC. It is certainly more complex, she explained, with a multitude of federal, state and city jurisdictions. “Our tax system is different and not something to underestimate. You are almost dealing with 50 different countries. It is easy for a business or individual to get into trouble.”
Accordingly, with the volume, complexity and potential harsh IRS penalties, Summerville strongly advised getting professional taxation services support before any trading involvements, and accepting that filing
tax returns could be far more costly than in the UK.
Talent can move both ways
Immigration to both the UK and US had become highly political recently, throwing the spotlight on border controls and current legislation, said lawyer Owen Jones. UK businesses, seeking to employ US talent or move staff to the US, should expect rigorous examination of credentials, and penalties for non-compliance. Once again, getting professional assistance in advance was advised.
A free copy of Allyson Stewart- Allen’s best-selling book, Working with Americans, will be sent to the first 10 readers who email
helen@elcot.co.uk with the subject 'Working with Americans' and provide a full postal address.
David Murray, managing director, The Business Magazine (left) with the speakers THE BUSINESS MAGAZINE – THAMES VALLEY – MAY 2016
www.businessmag.co.uk
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