Common services to outsource when entering emerging markets
Tax reporting
- Monthly: Corporate Income Tax, Withholding Taxes, Value-Added Tax (VAT), Luxury-Goods Sales Tax (LGST)
- Annual: Corporate Income Tax, Individual Income Tax, Land and Building Tax
Accounting and payroll
- Setting up accounts
- Maintaining general ledger
- Processing invoices and recording transactions
- Making payments on behalf of the company
- Preparation of management accounts (profit and loss, balance sheet, cashflow and income statements)
- Converting management accounts to an international currency
- Setting up records of employees’ salaries, wages, bonuses and applicable taxes
- Health and old age saving insurance calculations
- Processing payroll payments
Invoicing
Staff augmentation
- Conducting market research
- Selling products
- Finding suppliers or distributors
Undername import
undername import service in Indonesia
Customer support
Distributor search
- Developed market knowledge and supply chain
- Relatively low cost of entry
- Lean business model, ability to adapt to new market conditions quickly
- Can handle product transportation and warehousing
- As per agreement, can assist with product marketing
- Will take care of any possible credit risks arising from product’s buyers
three stage distributor search service
Local content production
- Translating labels and packaging
- Localising website
- Translating and localising marketing materials
Market research
- Market size and trends
- Competition
- Laws and regulations
Benefits of outsourcing non-core activities when expanding to emerging markets
Focus on your core activities
Spend your energy on doing sales and delivering client work
Reduce the learning curve in new market
Spend less time learning the local regulations and customs
Focus on what you do best
Expand to more markets faster
Since your learning curve is faster you can go to more markets quicker
Reduce costs
You might not have enough work for a full time accountant/HR
You might not even need your own legal entity
- invoicing and billing
- staff augmentation
- undername import
- distributor search
staff augmentation in our blog
You don’t need to manage the back office team
Flexibility
Scale up/down your operations quickly
Emerhub has been providing full market entry strategy to companies since 2011 and can outsource services in both Vietnam and Indonesia, soon as well in the Philippines. Get in touch with our consultants to outsource any of the above services or ask for advice regarding your field of business by leaving your contacts below.