Text Box: Entering or expanding a business in the UK Markets:

When selling overseas, you can sell your product or service directly to customers or use an intermediary. You may decide a mix of these approaches is best for your business. There is no 'one size fits all' solution, however it's important that you identify the best approach for your business.
The different ways to enter overseas markets:
Selling directly from your home country
Using a UK sales agent or distributor
Opening a UK operation

SARKS for Businesses Overseas

Business and Accounting Services for businesses selling overseas provided by SARKS Accountants in Manchester

Phone: 0845 257 1108

Fax: +44 (0)161 932 1401

E-mail: enquiries@sarks-uk.co.uk

Text Box: Using a UK sales agent or distributor:
Text Box: Opening a UK operation:
Text Box: Making the right decision:
Text Box: Selling directly from your home country:

This typically involves making periodic sales visits to the country, supplemented by telephone sales or accepting overseas orders on an e-commerce website. It can be a simple and cost-effective way to enter an overseas market. However, it may isolate you from your customers, and make you unable to share the exporting workload with partners or intermediaries.

A sales agent acts on your behalf in the UK market, although there are many types of agents they normally introduce you to a customer and you pay a commission on any sales to that customer. Agents are used extensively in the EU and are protected from abusive business tactics by law so its worth ensuring you understand what you have agreed and seek legal advice on your agreement. It is not advisable to operate without an agency agreement in place. The key benefit of using an overseas sales agent is that you get the advantage of their extensive knowledge of your target market.

This involves opening your own branch or subsidiary in the new market, or entering into a joint venture with a local business. Having a presence on the ground can be valuable, but setting it up and maintaining it may involve major resource commitments.

Investigate your new market and how your product will fit into it. Consider the following questions:

What's your priority - minimising potential costs or controlling the process?

Do you have the market knowledge (and language skills) to make contacts and generate sales?

Do you have the time and money to invest in setting up a local branch or subsidiary?

Are there restrictions on the way you can enter the market? For example some countries may insist you form a joint venture with a local business.

What is appropriate for your product? If it requires specialist after-sales support, selling through an intermediary may not be suitable.

What are the usual distribution channels for products like yours in the target market?

Answering these questions will help you with the strategic planning for exporting your product.

Text Box: Our services

Entering a new arena without any contextual knowledge can often lead to expensive errors.  SARKS and its associates will help you with any or all of the following:

Carry out a comprehensive analysis and research of your intended market,
Assess and scrutinise your potential, and prepare for the worst,
Your best route to market, logistics, regulation, barriers, tariffs, customers and suppliers,
Your competition and how your company will forge itself alongside it,
An online business-to-business global payments solution which allows its customers to trade globally, but settle accounts in their local currency, simply and cost effectively,
The right training and development to meet the needs that we identify to make your businesses more successful  improving performance is the core competency of both our companies,
Mentoring from a Local Expert Professional,
finance, grants and incentives available to you,
the location of your business,
the labour market,
taxation and business structures,
accounting and auditing requirements,
Ongoing Support.

Our work does not stop at only offering help through research and advice but enabling you to test market, attract customers, appoint agents and distributors, benefit from a local partner who knows the market, and develop international business.

Ongoing Support for international businesses

We can advise you on the most appropriate records and systems for your company. Some of the services we offer include:
Bookkeeping - from basic records to trial balance,
Management accounting - regular tailored reports for effective decision making,
Payroll - calculation, payment and compliance,
Audit services - advice and assistance on statutory auditing.

Taxation

Your company will be liable to UK taxes if it is resident in the UK or if it carries on a trade in the UK through a branch or agency. We can advise you on your international group structure, including planning the repatriation of profits by the use of interest, dividends and royalties in order to minimise your UK tax liabilities.
Similarly, your personal tax liability will depend on whether you are resident, ordinarily resident and/or domiciled in the UK. 

Early tax planning is essential before arrival in the UK and during your residence here. 

VAT and duty

All businesses over a certain turnover must register for the purposes of VAT (UK sales tax). Our VAT team can arrange for your organisation's registration.

Involvement in a new venture may provide opportunities for VAT and duty savings if specialist advice is sought at the outset.  Transactions can be organised to minimise VAT and duty costs, and accounting systems implemented that maximise VAT cashflow.

VAT is a complex and frequently changing area of taxation and early professional advice is essential.


Funding solutions 

By working closely with you, we first develop a thorough understanding of your business and its requirements. We then use a network of lenders to identify the most suitable type of finance. Our knowledge of the requirements, capabilities and focus of these funders means we can identify the right financial partner(s) to suit the need in each case.

Our professional team includes consultants with backgrounds in accountancy, banking, corporate finance, invoice finance, specialist lending and business turnaround. Our service is impartial and available to all businesses without obligation or charge, as we receive an introductory commission from the relevant lender. 

Company formation and registration

We are able to assist with every aspect of company formation and set up in the United Kingdom. 
Several legal structures are available for running a business in the UK. For instance, you could set up a UK company, often a subsidiary of your ultimate holding company, or establish a branch or representative office of the parent organisation.

We can also deal with all compliance aspects including maintenance of statutory records and the preparation and filing of annual returns and other documents.

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In accordance with normal professional practice, whilst given in good faith, no financial responsibility can be accepted for the information supplied on this website.