Global Britain? Where to turn for advice?
Business owners will seek advice from many quarters when looking for inspiration, guidance or experiencing challenges. Yet, when looking for growth overseas, business owners increasingly turn to their accountant.
Whilst bankers may have the perfect answer for finance and lawyers the solution to a knotty contract or dispute, it is the holistic view combined with technical guidance that drives businesses to their accountant for advice on overseas growth.
Later this month, we will launch our Global Britain? report, where we will explore and discuss in greater detail the aspirations, drivers and barriers to international trade. In advance of the launch, we asked three of our experts for their thoughts on why business owners choose to turn to the accountant for advice on overseas growth.
Rachel Emmerson, Accounts Senior Manager, Kreston Reeves
“It can be quite a daunting process for business owners looking to expand overseas. There are enough rules and regulations in the UK to get your head around let alone in different jurisdictions, where they may speak a different language and where there are no personal relationships to lean on for tips and advice.
“Accountants build up a level of trust with their clients over time and often become the go to for referrals or introductions for other services they may need. This includes introductions to overseas advisors.
“Kreston Reeves is part of a global network of independent accountants, Kreston International, that can support clients anywhere in the world they would like to trade in. The fact they trust us as advisors and we can, in turn, connect them with the right professionals to further their plans is a great comfort to our clients.”
Toby Cotton, Business Services Manager, Kreston Reeves
“Accountants need to be multi-dimensional and cover all angles when a business begins trading locally and overseas. Being part of the Kreston International network is a privilege in that we have the contacts in other countries that can assist in relevant matters associated with structure and tax consequences of expanding overseas. We can then communicate this back to clients in a coherent way that they understand and build that personal relationship.
“Personally, using our International network has given me the exposure to help a lot of my clients in whether to make that move overseas or to stick to the UK. Clients can be confident that their global plans are being tended to with expert advice and assistance. If a business wants to grow globally then an accountant is that trusted adviser to guide them to that brighter future.”
Tim Levey, Partner, Kreston Reeves
“Businesses tend to talk to their accountants when they are thinking about expanding overseas as most accountants will be part of an international network. Other advisers tend to have a UK focus only. Our own experience of being an integral part of the Kreston International network for many years is that it enables us to get some basic information from the local Kreston member in terms of the local rules to be aware of when setting up in that country. Clients then have an English speaking local adviser to talk to if they want to push their plans forward, in the knowledge that their accountant can be kept up to date with the global plan.”
If you would like to find out more, visit our Shaping your future hub.
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