PR Newswire | 29 Jul, 2014
LONDON: TMF Group, a leading provider of high value business services to clients operating and investing globally, has launched a new service designed to reduce the cost and administrative burden for companies operating in, or expanding into the USA and keep them in 'good standing' across 51 states.
QuickStart: to the USA gives companies a single point of local contact and access to specialist financial, legal and HR and payroll services, including:
Implementing and maintaining a firm's legal set-up and structuring
Providing a registered agent
Ensuring compliance with state and local regulations
Handling accounting and tax requirements
Ensuring staff get paid on time and in accordance with local rules
Luigi Garlati, Regional Director (Americas), TMF Group, explained: "Now is a great time to operate in the US market. However, compliance can be complex and companies need to be careful that they fully understand the local market and its regulations, as failure to do so could lead to financial penalties, lost business or, in extreme cases, criminal prosecution".
Through the QuickStart package, TMF Group helps businesses overcome the key challenges of establishing or running operations in a new country; centralising the process and maintaining compliance in all 51 jurisdictions.
According to a recent study commissioned by TMF Group and conducted by IDC, these challenges include finding the right premises and local suppliers; complying with local rules, regulations and processes; understanding local cultural differences and languages; and finding the right local talent.
The survey also demonstrated how renewed confidence in global economic conditions has encouraged more businesses to consider expanding their operations internationally. According to the study, 86% of those surveyed were planning to grow their footprint in order to expand sales operations. Additionally, nearly 30% planned to enter new markets within a year and 64% within two years.
Garlati, concluded: "Entering a new country can be a challenge for any company and fraught with commercial and reputational risk.
"Even once established, firms will continue to face fresh challenges as they attempt to manage the many local nuances that influence the business environment, which can often be a complex and burdensome process. We take that burden away so that our clients can focus on what they do best."
To find out more about TMF Group and its services in the USA, visit: http://www.tmf-group.com/quickstartusa
For further information, please contact:
Justin Griffiths, Powerscourt