We support technology companies with international expansion
At Hawksford we offer tech organisations a full suite of corporate services including company secretary services, company directors, bookkeeping and accounting services, with control of relevant companies in their local jurisdictions.
At the start of 2020, Hawksford was already gearing up for a significant growth in the tech sector. However, the Covid-19 pandemic arrived and significantly impacted the sector. This global tragedy forced the world into distanced environments which has had the knock-on effect of giving tech companies significant opportunities for growth.
We recently sat down with fellow industry expert, Russ Shaw, founder of Global Tech Advocates, one of the only international grassroots tech community that brings together the private sector in multiple cities and regions worldwide. He shared his insights with us on how the pandemic has affected the industry and what the future could look like for the sector.
There are a number of factors that influence a tech firm’s strategy and need to expand into new hubs as part of their growth such as access to infrastructure, access to venture capital, regional and governmental incentives, networking potential, access to a trained and talented workforce, attending accelerators and the cost of doing business to name a few.
Although there are many incredibly well-established tech hubs around the world, there are also many more gaining strong reputations. Here at Global Tech Advocates, we have seen many of these hubs first-hand, launching new networks in a number of them. We see the USA as continuing to be the number one tech hub, followed by China, both of which continue to grow rapidly and are widely revered thanks to centres such as Shanghai, Beijing and the Greater Bay Area. However, there are at least 20 to 30 second and third tier Chinese hubs also developing their talent pools and infrastructure. India, through Bangalore and Mumbai are also key as is Singapore with an emphasis on FinTech. Japan is a solid tech hub, which boasts strong ties to the UK. In Europe, London remains the most highly rated tech hub, followed by Paris, with many more in both Eastern and Western Europe gaining strong reputations.
Growth isn’t all about investors and accessing capital, it is about governance, attracting local talent, preparing for the future (is there an IPO on the horizon five years in the future?) and outsourcing the administration. All of this enables firms to grow because the board and the executive team can focus on what they do best.
Any business looking to expand into new jurisdictions, regardless of their sector, needs to make sure they have access to the right guidance, expertise and on the ground support to make their plans become a reality. This is also true for tech firms that are looking to scale, raise capital or sell. For many scale-ups, growth can be quick, requiring extensive investment and be draining on the resources of an already busy team. Plus, by the nature of their work, innovative ideas are not necessarily au fait with local regulatory requirements – having the right partners and network around them can really make a significant difference to their fortunes.
Here at Hawksford, we are able to offer our clients extensive expertise and experience in helping them achieve these goals. For example, when Two Rocket backed companies - Digital Services SG FIVE and BlueNest - wanted to expand into Asia, we aided their operations by preparing financial accounting reports, overseeing the care of their payroll and completing the tax filing. This went beyond alleviating administrative burdens so they could focus on growing their business. We pride ourselves on working with our clients as partners, providing advice and organisational support with on the ground knowledge to help break down barriers to expansion and investment.
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