BlueRock partners with Amesto Global on US expansion services
Melbourne-based professional services firm BlueRock has teamed up with US counterpart Amesto Global to help guide local entrepreneurs looking to set up shop in the lucrative American market.
The strategic collaboration with Amesto Global will provide Australian businesses with on-the-ground support Statesside while working with a trusted BlueRock advisor back at home, smoothing the path for a successful landing.
“Together, we will guide and empower entrepreneurs through the complexities of US market entry, offering strategic insights and innovative solutions for international expansion,” stated Amesto, which is locally based out of New York.
In a dizzying blog-post, BlueRock accounting director Mark Fancellu – who will help lead the offering from this end – outlined just some of the considerations for Aussie businesses charting a course for the States, starting with structure and incorporation, and where exactly will the enterprise be located? Also, what kind of products or services will the company be offering?
These may seem simple enough questions, but unlike the relatively tiny and homogeneous business landscape in Australia, the US is made up of 50 individual states, each with their own complex mix of compliance laws and distinct cultures and market dynamics. As such, these initial choices will have a significant impact on taxation and regulatory obligations alone.
Conducting extensive market research and understanding these nuances then becomes critical to success, says Fancellu; “The United States presents a landscape rich in opportunity for Australian businesses, characterised by its vast economic environment and diverse consumer base. Navigating this promising terrain, however, comes with its own unique set of intricacies and challenges.”
These include a range of other factors relevant to operating in unfamiliar territory, from international tax treaties, currency fluctuations and local banking requirements through to managing employment and payroll, with BlueRock warning that the often occurring need to “go-to-market” quickly can lead to tax leaks or increased risk profiles that can be hard to unwind or costly to resolve.
As to staffing, Sims Tullos, Amesto Global’s director of growth, adds; “Time and again we’ve seen our clients fall into the trap of entrusting the entirety of their new market’s operations to their initial US hire. From spearheading sales and overseeing day-to-day operations to grappling with complex financial reporting tasks, this lone employee invariably finds themselves stretched thin.”
Amesto Global
Tracing its heritage back to the Amesto Group founding in Norway in 2002 under the Spandow family business banner Spabogruppen, Amesto Global has further locations in the UK, Ireland and Spain and offers a comprehensive range of accounting, payroll, business advisory, and corporate finance services, with an award-winning Australian film production client already under its belt.
BlueRock concludes; “For Australian businesses eyeing off US horizons, the journey involves a spectrum of operational, legal, and cultural challenges. It demands meticulous planning and a committed approach to understanding the depth and breadth of the market. Preparing for these challenges to lay the groundwork for sustainable advancement is as vital as the vision for expansion itself.”
