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BlogInterview: Innovation and Leadership w/ Ronan Dunne
Start A Company, Hr +2
Interview: Innovation And Leadership W/ Ronan Dunne

We recently had the privilege of speaking with Executive Vice President and Group CEO of Verizon Consumer, Ronan Dunne. In this exclusive interview, Ronan provides key insights into how 5G is transforming our lives, and the impact it has had on Verizon.How is 5G transforming Verizon / our lives?Ronan Dunne: Whenever a new generation of technology comes out, we’re always prone to saying, “So what’s the new – new?” 5G has significantly enhanced existing capabilities, including:- The use of mobile edge computing: the ability to push a computer off an individual device and to be on the edge of the network and rely on the low latency of the 5G network – means that industrial robots, which usually cost around 100 000 dollars, can now be built for 25 000 dollars as there is less hardware which needs to be inserted.- The ability of the 5G network to support 10 times as many connected devices are actually the reality of AR / VR reality. Instead of a headset that typically requires you to be wired to it, we’re talking about a clip on the side of your designer sunglasses, which is giving you an augmented reality capability, and practically speaking we’re about 12-18 months away from those products being commercially available.- Across all of these considerations, there is much to be excited about with 5G aiding a lot of what we dreamt of real in a short period.Is 5G currently available globally or only in the US?Ronan Dunne: In all fairness, mobile edge computing is very much in its infancy in relation to 5G. 5G capability is being deployed across all the world currently. It is mostly deployed in the mid-band regions, where a capacity of 3.5 gigahertz can be the sweet spot. In the UK, you can already enjoy 5G on your handset. There is massive capacity, for example, a download speed of 10Gigs, not 10 megs on a mobile device. This is coming out everywhere, however requires some of the standards to be upgraded and “SA standalone core” to be uploaded to the 5G networks.We’re talking about a 12-18 month cycle to deliver commercial-grade capabilities in the US and maybe 18 months behind that in Europe.As the current market leader, how does Verizon stay ahead and lead its market share?Ronan Dunne: The trick as a leader is not to do what is expected and to do the unexpected. Essentially divorce the industry and rewrite the rules of the game. My big passion is that actually, we’re not in the technology business at all. In my experience most consumers don’t buy tech, they buy the experience that tech enables.I see us as an experienced company. So my focus over the last few years has been turning the network in the service of the experience and outcomes. Rather than perhaps how Verizon was previously seen, as an engineering-led and network organisation.This has allowed us to evolve to the situation now, where much of what we do is around quality, choice, and experience. We partner with Disney, Apple Music, Google, etc. to create a platform that allows the most creative people across a wide range of industries to have access to the best tech that creates outcomes for customers. We have a well-executed platform strategy.What tips do you have as to how entrepreneurs could differentiate themselves?Ronan Dunne: At Verizon, we’re actually a service company, a subscriptions business, not a product. Typically, many think of us as a product business but the product is actually an Apple or a Samsung handset or device. The service is the ability to use that to do multiple things.  Depending on whether you’re in a product or service organisation, will determine the approach you need to take.Within a service organisation, two things I would say is:1. The service industry isn’t a homogeneous market – we focus on detail segmentation – we use segmentation as an acquisition tool. On the other hand, there’s value-based marketing, which is used as a retention tool.Once a customer joins Verizon, we build a profile of that customer, based on their engagement with us and the services we offer. So we then attribute that to build a capability, meaning that with every touchpoint that customer has with us, whether it’s the network itself or a retail store or elsewhere, we show up how the customer expects.  We use that rich insight, to know and recognise our customers.That’s really the key, to deliver personalised service and experience.2. We want to ensure that we go from the synergy of scale to the beauty of a personal relationship. We are the largest telecommunications company on the planet; we have 100 million consumers every day and 130 million customers overall between consumer and business. But every one of them is an individual and our ability to personalise is an essential ingredient as to how we differentiate.I think in any business, whether it’s service or product if you at least have that mindset you will be focused on what the customer truly values, not what you believe is important.To discover more about this insightful interview, watch the full episode here:We are pleased to share that Ronan Dunne will be joining us as a speaker at our upcoming Global Expansion Conference 2022. He will be presenting on the pressing topic of “Future Leaders: Nurturing the next generation of sustainable leaders”. His speech will aim to answer critical questions such as: How should leaders change to meet the demands of a new world of work, one in which companies are borderless? Emerging markets demand increasingly experienced talent; how do you manage them?  This is a session ALL leaders should aim to be a part of. Register for a ticket NOW! 

Oct 11, 2021
BlogThe third edition of our magazine: Centuro Connect is here
Start A Company, Hr +2
The Third Edition Of Our Magazine: Centuro Connect Is Here

We are delighted to share with you our third edition of the Centuro Connect magazine. Things over at Centuro Global have been so busy, with many new milestones being achieved and our team growing in size and capabilities.We hope that the content in this magazine helps to reflects our appetite for risk and trendsetting. Our goal is to change the status quo of traditional tested methods of business and push ourselves beyond the normal boundaries.  Some of the key topics include in this edition will cover:-Latest update and summary of Centuro Connect -Insights and dedicated features related to Legal, Insurance, Marketing, Immigration and Tax -Events -Quick ReadsAs we head into the Autumn, we are excited about our upcoming plans, growing our community, and increasing the deal flow in the network. This issue provides updates and insights into the last quarter, and we hope you enjoy reading the content.To access the full magazine, please click HERE.  

Sep 30, 2021
BlogGAMING AND BETTING IN BRAZIL
Start A Company, Hr +2
GAMING AND BETTING IN BRAZIL

2021 saw the 75th anniversary of the general ban of games of chance in Brazil1. The last roulette spin was played in the casino of the iconic Copacabana Palace Hotel on the night of 30th April 1946, when President Dutra issued a Decree-Law confirming the prohibition. Ever since, such general ban has been embedded in the controversial article 50 of the Criminal Contraventions Law, which defines games of chance as those where the result of the games relies exclusively or predominantly on luck and does not authorize them to be conducted in public venues or those accessible by the public, whether an entry is required or not. In the context of the foregoing, considering the internet as a public venue or one accessible by the public has attracted a lot of discussions, especially since hundreds of foreign online gaming and betting operators currently access the Brazilian market and accept bets from Brazilian punters. A conservative interpretation of the Criminal Contraventions Law would indeed consider the internet as satisfying the requirements for being deemed a public venue or one accessible by the public, especially as from 4th August 2015, when Federal Law No. 13,155/2015 amended paragraph 2 of Article 50 of the Brazilian Criminal Contraventions Law to specify that players betting online are equally subject to the payment of a fine. Currently, the only legal forms of authorised gambling in Brazil are:State-run lottery (both at Federal and State level), including scratch cards;Horse race betting at authorised racetracks;Online or land-based fixed-odds sports betting (pending regulation to be issued in 2021, as promised by the Federal Government, subject to licensing). Horse race betting is allowed at authorised race tracks in Brazil It follows from the above that the deciding factor in ascertaining whether a game is considered to be one of chance in Brazil is the extent to which winning or losing depends on luck or skill. Whenever the outcome depends predominantly on skill (even if luck is a factor in the result), the game will not be considered gambling and, hence, will not be subject to the restrictions of the Criminal Contraventions Law.Recognition of the distinction between games of skill and games of chance is increasingly present in Brazil nowadays. Skill games are generally referred to as “mind sports” (esportes da mente, in Portuguese). In this regard, the Brazilian Federal Government recently approved the Brazilian Chess Association for the Visually Impaired, the Confederation of Texas Hold’em, and the Brazilian Bridge Federation, recognizing that such games are sports. The Brazilian Federal Government recognizes Chess as a sport.In the context of the above, there are two main bills seeking to legalize all forms of gambling in Brazil, one proposed in the Senate and the other in the House of Representatives. Neither bill has yet been approved by the house where they have been respectively proposed:House of Representatives Bill of Law No. 442/1991Seeks to legalize various forms of gambling, both online and land-based.Registry for gambling addicts will be put into place and an individual will be included either by choice or judicial order. Such persons cannot gamble.Licensed entities must be:Incorporated under Brazilian law, with headquarters and management in the country;Technically capable of conducting the activity; and Financially and economically credible.Shareholders/managers must also provide documents such as income tax returns and clearance certificates, have no criminal precedents, etc.Servers for online gaming operators must be located in Brazil.Land-based casinos: the number of establishments per state varies between one and three and is based on the number of inhabitants of each state. Based on the current population of each State:São Paulo could have up to 3 casinos.Rio de Janeiro, Minas Gerais and Bahia could have up to 2 casinos each.Other Brazilian states could have 1 casino each.This limit would not apply to hydro-mineral resorts where casinos have previously been operated (i.e., certain cities in the State of Minas Gerais).No group may be granted two licenses in the same state, nor more than 5 licenses in the country. Licenses will be granted for 30 years, renewable for another 30 years.Senate Bill of Law No. 186/2014Seeks to legalize various forms of gambling, both online and land-based.Providers must comply with Central Bank rules regarding:Identification of players.Communication of financial transactions.Keeping of records.The first concrete development towards the legalization of gaming and betting came at the end of 2018, with the enactment of Federal Law No. 13,756/2018, legalizing fixed-odds sports betting, both land-based and online. The law defines fixed-odds sports betting as a lottery modality consisting of a betting system related to real sports-themed events (and, therefore, in principle, not to electronic sporting events), in which how much the punter can win if his/her prediction is correct is defined at the time the bet is placed. At the end of 2020, the Brazilian regulator (SECAP – a division of the Ministry of the Economy) announced plans to roll out regulations for fixed-odds sports betting by July 2021, a promise which was not honoured.In its latest draft decree released last year, SECAP opted for the concession licensing model out of the three possible approaches (being the other two approaches: authorization licensing [which would entail an unlimited number of licenses] or monopoly licensing). Under the concession model, operators will have to bid competitively against each other to "win" one of the few licenses limited in number. Initially, it was expected that no more than 30 operators would be able to function in Brazil at any one time. However, the latest rumors indicate that the total of available licenses should be between 50 and 100. But considering that approximately 500 foreign sportsbooks are believed to be currently operating in Brazil's market, even this increased number of licenses may not be sufficient. However, there is still hope this wind may change direction. Sixty-six companies responded to a recent Request for Information issued by Brazil’s National Economic and Social Development Bank (BNDES) and thirty-eight were selected to receive a Request for Proposal to select a company or consortium of companies to assist BNDES in structuring the industry for fixed-odds sports betting in Brazil, which would include working with SECAP in defining the most appropriate business model and legal framework. The news is that the qualifying applicants had not yet received such RFPs by mid-July and this is the reason why SECAP could not honor its promise to roll out the regulations. This may now happen in the months to come.Besides not defining the licensing model for fixed-odds sports betting in Brazil, Law No. 13,756/2018 was also greatly criticized by the industry for contemplating a turnover tax (3% for online operations and 6% for land-based operations), in addition to the taxes usually paid by companies operating in Brazil.Fortunately, this changed in July 2021 when Law No. 13,756/2018, by means of an Amendment to Provisional Measure No. 1,034/2021, which was converted into Law No. 14,183/2021, whereby Gross Gaming Revenue (GGR), rather than total revenue/turnover, became the basis for calculating the additional tax paid by licensed operators.ARTICLE CONTINUED HERE

Sep 15, 2021
BlogGAMING AND BETTING IN BRAZIL (CONTINUED)
Start A Company, Hr +2
GAMING AND BETTING IN BRAZIL (CONTINUED)

GAMING AND BETTING IN BRAZIL CONTINUED...As the law now stands, payout (without limitation) and the corresponding withholding income tax (levied at the rate of 30%) will be deducted from the operator’s total revenue to form the tax basis. The gaming tax now applicable can be broken down as follows: Allocation of proceeds Law No. 13,756/2018 Law No. 14,183/2021 (which amended Law No. 13,756/2018) â€¯ Land-based operators Online operators Land-based operators Online operators Social security, subject to the provisions of article 26 of Law No. 8,212 of 24th July 1991 0.5% 0.25% 0.10% 0.05% Entities and units of the public, elementary, and high school units that have achieved the goals established for the results of the national basic education evaluations, as per the norms of the Ministry of Education 1% 0.75% 0.82% 0.82% National Public Security Fund 2.5% 1% 2.55% 2.55% Soccer entities that assign the rights of use of their names, trademarks, emblems, anthems,  symbols, and other similar signs for advertising and conduction of the lottery 2% 1% 1.63% 1.63% Payout and withholding income tax Min. 80% Min. 89% 95% 95% Gross gaming revenue Max. 14% Max. 8% As far as enforcement actions are concerned, these have so far focused only on local operators and money laundering issues. Since Brazilian credit card companies are subject to controls established in the Brazilian Anti-Money Laundering Law (Law No. 9,613/1998, as subsequently amended), which deems money laundering to be a crime when the monies laundered derive from any illegal activities (therefore, not only from crimes but also from criminal contraventions), some of them do not authorize clients to use their credit cards on gaming and betting websites. Brazilian credit card companies are subject to controls.Once fixed-odds sports betting is regulated and licenses start being issued, it is likely that enforcement against offshore operators that are not licensed locally will increase significantly.  Besides the legislative front, gaming and betting in Brazil have also been impacted by judicial decisions, especially those emanating from the Supreme Court (STF). In this regard, the courts of the State of Rio Grande do Sul are generally of the opinion that the Federal Constitution, which was enacted after the Criminal Contravention Law (which prohibits games of chance), revoked such law. Accordingly, such courts have issued decisions allowing establishments that exploit games of chance to remain open in such States (with certain restrictions until this is definitively ruled upon). The matter has been taken to the STF and has been deemed to be of “general repercussion”, which means that the ruling will be binding on all Brazilian courts. All lower court cases are suspended until this leading case is ruled upon. If the STF rules that the restriction on gambling is indeed unconstitutional, all forms of gambling could, potentially, be legalized without regulation.  The STF case and the bills of law mentioned in this column have been under review for a long time and are deemed extremely controversial. A ruling by STF, which may lift all restrictions on games of chances in Brazil, was expected for 7th April 2021and was then postponed for an indefinite date. In the light of the disruptions caused by the outbreak of the Covid-19 pandemic, it is uncertain whether there will be major progress in these matters within the next months.  Another important STF decision issued towards the end of last year and which unanimously ruled the end of the Union's monopoly on the exploitation of lottery modalities has also had a great impact not only on the lottery industry but also on fixed-odds sports betting. In its decision the STF recognized the Federal Union’s authority, embedded in clause XX of article 22 of the Federal Constitution of 1988, to legislate on consortia and draws (including lotteries), but that such authority does not preclude the States’ authority to exploit and regulate lotteries. Following this decision, several Brazilian states have taken the necessary steps to launch their own lotteries. However, the federal government wants to limit bets in state lotteries. In this regard, it is expected that SECAP will publish in the near future an ordinance establishing rules for the creation of lotteries and sports betting systems at the state level. One of them is the adoption of mechanisms that prevent bets from other states of the Federation. One of SECAP's goals is to prevent the creation of state lotteries from emptying federal concessions for the sector, but the measure can be challenged and end up in court. Several Brazilian states have taken the necessary steps to launch their own lotteries.  Moreover, the STF decision, not only an important victory for Brazilian states which have been exploiting their own lotteries, but may also potentially impact the regulation and exploitation of fixed-odds sports betting in Brazil, since, as previously mentioned, they have been deemed by law as a lottery modality. This means that, at least in theory, while Brazilian states will be in a position, following the STF ruling, to exploit any form of lottery already in existence at the federal level, and given that fixed-odds sports betting is a form of lottery, Brazilian states may be able to impact the federal licensing program by granting licenses to operators at State level.  It follows from the above that gaming, betting, and lottery industries are gaining greater momentum in Brazil. This may be incremented now that Senator Ciro Nogueira, who has in recent years spearheaded the legalization of all forms of gambling in Brazil, has been appointed by President Jair Bolsonaro as his Chief of Staff (Ministro da Casa Civil). We will have to wait and see. For more information on Brazil and doing business in the LATAM region, we have launched a new platform - Centuro Connect, that dives into blueprint specifics helping you do your research all in one place. It is the ultimate tool for understanding market entry options, HR, Immigration, Legal Requirements, Tax & Accounting, and much more. TAKE A LOOK AT THE PLATFORM 

Sep 14, 2021
BlogHow Midsize Companies can compete in AI
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How Midsize Companies Can Compete In AI

The move towards AI-powered startups and mid-size businesses continues to grow rapidly, as companies leverage AI's capabilities. There seem to be two key streams of companies who appear well-positioned to explore AI and the impact on their business: startup ventures and multi-billion dollar giant corporations.  In a recent article by Harvard Business Review (HBR), they outline some of the ways in which AI ventures can help to support midsize companies.   If a midsize business wants to thrive in the AI era, it will need to evaluate the new ways in which it can become more competitive. This might include some options that have not yet been considered. Three examples HBR provides include:  1. Source cross pool data. By sourcing and organising data from multiple sources, mid-size companies are able to train and deploy machine learning (ML) algorithms for a variety of applications.   2. Source an in-house team of experts trained in AI to develop unique solutions. This is to help prevent putting long-term value creation.   3. Connect to an AI-focused CVC fund. This helps midsized firms to pool financial resources as well as technical and business expertise to scan and invest in the AI startup scene.  By offering access to an interconnected network of firms, rather than just a single firm, these joint ventures may also be more interesting partners for startups seeking financial and complementary resources.  READ THE FULL HBR ARTICLE ON HOW MID-SIZED COMPANIES CAN COMPETE IN AI HERE.

Sep 13, 2021
BlogSelling in Russia
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Selling In Russia

Russia remains one of the most interesting markets in Eastern Europe for foreign entrepreneurs because of its high market potential and low competition in many industries. On the other hand, speaking from the perspective of the Western world, Russia is a peculiar ecosystem in the economic and legal sense. Russia is not the EU, which means the rules for doing business are different.Saint Basil's Cathedral. Church in Red Square in Moscow, RussiaRussia exists under sanctions and pressure from the West. Russia has its own digital ecosystem - Google is not the main search engine, Facebook is not the main social network, and Amazon is not the main e-commerce platform. Despite this, we see that a significant number of global companies have expressed an interest in doing business both with Russia and with the entire Russian-speaking audience. And when you enter the Russian market (144 million people), your business automatically comes to the attention of 260 million Russian-speaking people around the world.Sales in Russia 2020The Economic Crisis and the consequences of the restrictions imposed in connection with the COVID-19 pandemic have had a significant impact on the development of trade in Russia:● Wholesale trade turnover increased by $3.6 billion in the Russian Federation in 2020 compared to 2019 and amounted to $1.1 trillion at the end of the year.● Retail turnover decreased by 4.1% in 2020 compared to 2019 and amounted to $454.8 billion. Retail sales of food products fell by 2.6% up to $222 billion, non - food products-by 5.2% up to $232.8 billion;● According to the Association of E-Commerce Companies, the volume of the Russian e-commerce market in 2020 increased by 58.5%, up to $43.3 billion, while its share in the total sales of the retail market amounted to 9.6%. Due to the pandemic, a drop of 25% was recorded in the cross-border model.Based on the results of 2020, e-commerce has become one of the most dynamic sectors in the Russian economy. It is worth mentioning that because of the pandemic and the imposition of restrictions in the Russian Federation, as well as around the world, different segments of the consumer market have been substantially transformed. In particular, the demand has dramatically transferred from physical stores to online merchants. The largest online hypermarkets and marketplaces have strengthened their leadership online, and many retailers have initiated active development within a multi-channel model of interaction with customers which were linked not only with the development of their own online stores and delivery, but also with the development of applications for mobile devices, cooperation with marketplaces, and development of joint projects with other retailers and service companies.E-commerce has become one of the most dynamic sectors in the Russian economy.Specificity of the Russian MarketRussia is ranked 28 in the Ease of Doing Business (The World Bank). The country holds a higher position in the following rating categories: Getting electricity (7), Registering property (12), Getting credit (25), Enforcing contracts (21), and Dealing with construction permits (26). Such conditions promote the development of entrepreneurship in Russia, including the influx of foreign trade operators.An important factor in the development of modern trade is the e-commerce segment. Russia holds the 25th position in The Inclusive Internet Index, having a positive impact on the e-commerce development in the country. In this regard, representatives of retail and wholesale sales should give special consideration to the company's presence on the Internet, in particular, to the adaptation of web resources into the Russian language.Hermitage, Palace Square, Saint Petersburg, RussiaRussia is a huge country, so logistics play a special role. Not only product delivery to the country should be considered, but also its transportation across Russia. In The Logistics Performance Index rating, Russia held only the 75th position, due to the low infrastructure quality assessment and complicated customs clearance, which is one of the barriers to foreign companies entering Russia. Another unfavorable factor is administrative barriers and complex legislation.Peculiarities of business promotion in RussiaThe first thing which should be considered to promote in the Russian market is the localization of advertising materials, web resources, and other content into the Russian language. It is not just the translation, but the processing of all materials in accordance with the Russian legislation, the peculiarities of the language, and the cultural characteristics of Russian consumers. For example, vulgarities, sex jokes, and the demonstration of losers in advertising are not relevant for a Russian consumer.Vulgarities, sex jokes, and the demonstration of losers in advertising are not relevant for a Russian consumer. Once I had a conversation with the Head of a New York representative office of a large network agency. He promoted Western FMCG products on the Russian market at the beginning of the ’90s. He noticed the high level of education of the Russian consumer. To increase sales of laundry powder in most developing countries, it is enough to show a funny dance and a happy family. The Russian consumer doesn’t believe such advertising messages. In Russia, commercials with tests and experiments, scientific facts proving the effectiveness of the product worked well.If you look at the whole world, you can distinguish four large digital ecosystems. The first one includes North and South America, Europe, and most of Asia: Google, Facebook, Apple, etc. Next, China, South Korea, and Russia stand apart with their own special ecosystems. The reasons for China are familiar to everyone - everything is blocked. The firewall simply keeps out Western media giants. There are no restrictions on Western services in Korea, but they are not popular there for political reasons. And only in Russia, there is real and fair competition between media giants. And, of course, this is because of the fundamental mathematical education (and as a result, a great many qualified programmers), that has been in Russia since the Soviet Union.Zhivopisnyy Most, Moscow, Russia In this connection, the second important factor to be taken into account when promoting is the Russian unique digital ecosystem, which includes Russian-language channels that are little known in foreign countries:● Yandex search engine and its services are the most popular in Russia (84.3 million users) and Google occupies the second position (82.4 million users in Russia, according to Mediascope research company for May 2021).● The most popular social network in Russia is VKontakte. More than 70 million Russian people use the social network every month. Another Russian social network, Odnoklassniki, with an audience of 42 million users is in the top three in Russia. Facebook ranks in only fifth position with an audience of 35.8 million users in Russia.Facebook ranks in only fifth position with an audience of 35.8 million users in Russia In the category of marketplaces in Russia, there are also players that are not represented in the world market. The top Russian trading platforms include AliExpress Russia, Yandex. Market, Ozon, Lamoda and Wildberries. The turnover of the largest companies on average increased by more than one and a half times over the year. Such growth has become a steady trend due to the increased competition and state policy aimed at business localization.For more information on doing business in Russia, we have launched a new platform - Centuro Connect, that dives into blueprint specifics helping you do your research all in one place. It is the ultimate tool for understanding market entry options, HR, Immigration, Legal Requirements, Tax & Accounting, and much more.EXPLORE THE PLATFORM

Sep 13, 2021
BlogTop 3 European Countries For International Expansion From The UK
Start A Company, Hr +2
Top 3 European Countries For International Expansion From The UK

Are you considering expanding your UK business into Europe, but unsure of which best countries to start with? We’ve broken down three of the best countries you should be considering as part of your global expansion process - France, Germany, and Denmark. Our selection criteria based on a range of benefits includes key market information and quality of life.Which country is best for you will be dependent on your sector. If you’d like more information about expanding into over 150 international markets you can sign up to Centuro Connect FREE for detailed global expansion strategies.1. FranceIt can be easy to overlook the UK's closest neighbour for opportunities further afield, but France has one of the largest economies in the world. They also have world-leading electronics, manufacturing, health, education, and finance sectors, making it one of the best countries for business in those industries.The country has a population of  67 million and has access to the EU single market. There is a well-educated workforce, with 34% of 25-64-year-olds holding a degree making it a good job market as well."France is a top-ranked country in regards to its quality of roads, railways, ports, and other infrastructure."In regards to residing in France, there are notable benefits to be had from both a corporate and social standpoint. For example, residents’ work/social-life balance is important. The Labour Code forbids work on a Sunday and overtime has an impressive 25% bonus. Whilst these are largely employee benefits, it gives business owners insight as to the approach to the balanced work-life in France. With a good balance of work and social life comes higher levels of productivity from your workforce.In addition to the above, government policy is favourable to entrepreneurs. President Emmanuel Macron once stated that he wanted to make France “the start-up nation”. As a result, there is considerably less red tape to fight through when setting up in France as you may encounter in other nations. For example, there is such a thing as a French Tech Visa. This acts as a fast-track way to residency for foreign tech talent.2. GermanyGermany is home to a highly educated and multinational workforce - a key factor to consider when expanding abroad and recruiting locals. In fact, business is the most studied degree in Germany, closely followed by social sciences and engineering. Additionally, The nation's second most spoken language is English, spoken by over 56% of residents. Communications are a big factor to consider when going global, particularly if you don’t speak the local language yourself."Germany's corporation tax is only 15%."Setting up in Germany also requires less backing than many other locations in Europe. One notable benefit is that only one director and one shareholder are required to set up a company in the country.In terms of the marketability of your services or products, Germany’s population is 82 million. This makes it the biggest market in all of Western Europe. Logistically, the country is also well situated in central Europe. This allows excellent access to surrounding countries and, in turn, their markets too.There is a growing belief that as the UK leaves the European Union business owners will choose Germany instead. Germany will likely take advantage of this and as a result, there could be good incentives to expand here. For this reason, we’d recommend keeping a close eye on Germany and what it can offer your business.3. DenmarkDenmark has not only a strong economy but has also been listed as one of the best countries in the world for cross-border trade. This makes it ideally suited to support international businesses. It is well connected to the other countries in this article, positioned north of Germany & France, and is also well connected for international supply due to its long coastline.In terms of relocating you, your family, and/or your employees, the country has some of the highest living standards in the world. It is also recognised as having the second-highest levels of gender equality in all of Europe, second only to Sweden."There is no need to immigrate or relocate to Denmark when setting up a business there. Local law allows business owners to do this remotely which can significantly simplify your international expansion strategy."Getting started here is quick, taking only 3.5 days to register a company. It is 3rd on the rankings of the easiest countries to do business in the world - which incidentally makes it the best in Europe.Whilst commonly overlooked, Denmark is one of the best-kept secrets when it comes to expanding your business overseas from the UK.If you would like to know more about any of the countries on this list, why not take a look at our new AI-powered Centuro Connect platform? It has detailed timelines and strategies for your global business expansion from our leading team of expansion experts.If you need help finding connections in the country you would like to expand into, the platform helps you liaise with approved partners in order to help you on your journey.Click here to find out more about the Centuro Connect platform and sign up completely free!

ZAIN ALI Jul 27, 2021
BlogWhat to consider when expanding your UK business abroad post Brexit
Start A Company, Hr +2
What To Consider When Expanding Your UK Business Abroad Post Brexit

Brexit has posed both opportunities and challenges for various industries since the UK finally left the EU on January 1st, 2021. Some businesses will thrive under the new trade deal agreement, while others will reminisce about the old days of closer links to Europe. For the latter, international expansion into new markets could be a realistic and lucrative option.Expanding or relocating your business will open up opportunities for new trading deals, resources, consumer markets, and infrastructure. Regardless of your industry or product, there’s likely to be a European destination well suited to your commercial needs.Knowing where to start can be a difficult process. Factors such as time, finance, logistics, and justification all need to be considered. Fortunately, Centuro Connect has created this five-step checklist to ensure you’re on the right track with your post-Brexit business expansion.Watch our webinar on Doing Business in a post-Brexit EuropeIncentives For Global Business ExpansionOne key consideration should be whether the international market you’re looking to expand into has financial incentives. Some European countries have low start-up fees, generous tax reductions, and grants. This can make your global expansion process quicker and more cost-effective. Some countries have capitalised on Brexit and offered additional incentives, partly with the view of attracting UK businesses into their market. An example of this would be France's recent initiative that invests in startup tech companies with a Tech Visa. This stated, some countries may seem perfect for your business and services, but in actual fact you’re coming up against a lot of red tapes. In the same way, be vigilant about deals that seem “too good to be true”, and look out for long or expensive processes. Use the following questions to narrow down your shortlist of countries for international expansion by evaluating what they can offer you, before considering what you will do for them:What is the funding process in my chosen market?Which markets can offer me the best incentives?Are there any specific visas relevant to my industry?ImmigrationImmigration laws will be a key factor in how you expand your business overseas. European countries will have differing immigration laws, meaning you’ll have to extensively research which market suits your needs.Some countries will allow you to set up remotely, allowing you to oversee operations from your current location. This is particularly useful if you’re not looking to relocate your entire business and will save on personal travel and accommodation expenses over the duration of your setup.If you are looking to move with your business, it’s essential that you research visa requirements. Some international markets allow easier entry for certain industries. Examples of this would be the EU Blue Card or a Tech Visa. Use this immigration checklist before moving forward with your expansion journey:I understand the visa requirements for my chosen countryI know whether or not I am entitled to some form of business visaI can set up my business remotelyI know whether I need a resident of the country to be involved in the business setupTax & AccountingKnowing exactly where to begin with tax and accounting can be a minefield for business owners when expanding overseas. As a minimum, businesses will use an end-of-year accountant to ensure the company’s books are in order and that they are adhering to taxation laws. It can be a stress-inducing task, but entirely manageable with the right help.There should be no assumption that tax laws operate the same in alternate markets. Below is a list of things you should be aware of and checking throughout your new tax setup:If outsourcing, find a trusted accountant to work alongside youDevelop a good relationship with your accountant through frequent communications and sharing business plansDevise a tax risk management plan for safetyHave a cash repatriation infrastructure readyEmploymentYou may be familiar with employment laws in the UK, but requirements across Europe vary significantly depending on where you expand into. One notable example which varies from country to country is weekly working hours. Some governments enforce strict limits on hours that can be worked by anyone employed in a week. This should be a consideration when hiring your workforce, as a team of eight in the UK may need to be a team of ten elsewhere.In addition, there are lots to consider when addressing factors such as payroll, annual leave, HR, and contract setup. Be sure to address these employment questions along your global expansion journey:Is a local payroll provider required?What will my employees be entitled to from me, the employer?Who/what is required to draw up an employment agreement?What are the options to terminate employment?What type of work permits are available for any non-local hires?What are the legal maximum working hours per week in my chosen country?Community, Culture & Global ExpansionWhen expanding your business abroad, you aren’t just relocating assets. Very often you will be moving with your business and, for that reason, you should be confident of the area - the culture and social aspects of your new life. You will already know to brand your business in a way that appeals to the culture of the new market. In the same way, you prepare to give your business the best head start, you should do it for yourself and your family. Familiarise yourself with local traditions, language and make an effort to integrate yourself into the community. Below is a list of things you could do to make this transition period as enjoyable as possible from a personal standpoint:Partner with other local businesses or figures in the communityFamiliarise yourself with the language - app stores are full of fun tools for thisLearn about the history of your new locationJoin a local not-for-profit, such as an improvement districtPutting it into practiceThe Centuro Connect platform allows you to track all of the above in one centralised process.The AI interactive platform has details on tax, immigration, market entry points, HR, marketing, and real estate for 150+ countries. Contactable and reliable experts are also on hand to help you ace your expansion. The entire platform and its contents have been specifically designed to have a simple sign-up process and easy-to-use features.You can sign up for the Centuro Connect platform today! There’s no risk, and no endless documentation to fill out. Just a wealth of information and like-minded experts to help you throughout your international business expansion.Find out more about global expansion benefits and Centuro Connect here.

Jul 26, 2021
BlogAn International Expansion Case Study - Just Eat
Start A Company, Hr +2
An International Expansion Case Study - Just Eat

Scaling your business from your local market abroad provides a wealth of opportunities. Perhaps most notably is the new market entry advantage. Just because your organisation is operating well in its local market doesn’t mean there isn’t a new opportunity out there that will prove even more successful. Just Eat is one of the most globally recognised takeaway services, with it successfully operating in the UK, Canada, Australia, France, Italy, China, and Spain, to name a few. What many aren’t aware of is that Just Eat's home country is in fact Denmark. One of the key reasons this is little-known is because the company didn’t truly take off as a service until it relocated to the UK in 2006. So, why is it that? This case study explores Just Eat’s global expansion strategy, why it was successful, and how effective business planning turned them into a global household name.New Market Opportunity One of the most notable areas that Just Eat succeeded in during its international expansion was defining and serving the market most relevant to them. Whilst Denmark was providing the company opportunity, Just Eat noted the demand of the UK takeaway market. They were bought out by Bo Bendtsen in 2005, who decided to launch the Just Eat Headquarters in London.To provide context to just how much the UK market could offer, over 50% of Europe’s food delivery industry is based in Britain. Adapting and expanding to serve a well-suited market proved a smart move for the takeaway business. As of 2017, over 70% of the company’s revenue came from the UK alone, despite being located in over a dozen countries worldwide by this time.Connect’s Tip:If you’re looking to expand your business abroad, first try to define "why and where". You may have a dream of moving to a specific country, but if that new country and its market don’t serve your business framework then you should continue to research other alternatives. The perfect opportunity is out there, so be open to all options for you and your business!Further Expansion & Buying PowerWhilst international expansion is a step-by-step process, with success comes the opportunity to further expand your business. This is exactly what Just Eat did, with the Netherlands and Ireland being the next locations for expansion in 2007 and 2008 respectively. By this point, the company was growing rapidly, as well as acquiring multi-million-pound investments with the view of buying out competitors further afield. Within the next 10 years, the company had either expanded to or bought out their market competition in Australia, Canada, and the UK. At the time of writing this article, they are operating in some capacity across 23 different countries.Just Eat is also a partner to other existing businesses in Brazil and Columbia, proving a versatile approach to their international expansion method.Connect’s Tip: Like with Just Eat, a versatile approach to international growth often means more opportunities come your way.Whilst their journey was far from an overnight process, Just Eat assessed every market competitor and approached each new venture with a different expansion strategy. Whether it came down to expanding as their own brand or buying out/partnering with their competition, Just Eat’s varied strategy is what has ultimately helped them become a global market leader. Branding & SponsorshipBranding is something that can easily be lost in the wider picture when expanding your business globally.Whilst your business will already have a brand identity, it’s important to consider what may potentially work even better in other markets. Just Eat has done a great job at not only changing branding, messaging, and logos to keep up with the times, but also tailoring it to their various markets.For example, when acquiring existing takeaway competitors in Australia and Canada, Just Eat chose to maintain the already familiar names of the companies and simply rebranded the logos to the trademark ‘Just Eat logo style’. This means that in Australia Just Eat is known as Menulog and in Canada, Skip The Dishes. Maintaining the corporate identities of companies that the new markets are already familiar with gave Just Eat a valuable head-start when relocating to new countries. You’ll see below the examples of each brand and how they compare.In terms of international sponsorship, this is yet another area in which Just Eat has succeeded. Previously shirt sponsors of English football club Derby and Belgian side Oud-Heverlee Leuven, the company ensured that their brand identity was visible to their target market across various countries. In a similar sponsorship deal, Just Eat also sponsored the 14th and 15th series of the UK X-Factor. Connect’s Tip:If you’re expanding into new markets, it’s important your strategy assesses how your brand will likely be perceived in your new location. Ensure that translations are appropriate and coherent to foreign audiences or clients and that you are appealing to the correct target market from the start.The Just Eat expansion journey has been going for over 14 years now. Relocating and expanding your business is a long process but, as you will have seen, one that provides a great wealth of opportunity when done correctly.Start your expansion journey with your own free downloadable resources! Define your goals, set a timeline, and check them off as you go. See this as the starting point as you get your business expansion underway.For further assistance in your own global expansion journey, the Free Centuro Connect platform is here for you...Centuro Connect - The best New Market Entry PlatformThe Centuro Connect platform has been created as a centralised cluster of resources for entities looking to enter new markets. The Centuro Connect platform has details on tax, immigration, market entry points, HR, marketing, and real estate for 100+ countries. Contactable and reliable experts are also on hand to help you ace your expansion. The entire platform and its contents are completely free to use and have been specifically designed to have a simple sign-up process and easy-to-use features, all whilst does not cost businesses a penny!You can sign up for the Centuro Connect platform for FREE today! There’s no risk, no single hidden cost, and no endless documentation to fill out. Just a wealth of information and like-minded experts to help you in launching your business overseas.

Jul 20, 2021
BlogForeign Investment in the US
Start A Company, Hr +2
Foreign Investment In The US

Global expansion into foreign markets is the key growth strategy for most companies around the world. Since the start of the pandemic, understanding the factors that influence where and how to invest in a foreign market has never been more critical.   Where to invest for foreign investors According to the 2021 Kearney FDI Confidence Index (Index), global investors remain cautious following the changes to the world economy in 2020, even as vaccines bring some predictions of global economic growth in 2021.   Caution by investors is reinforced by the continuing high rankings of developed countries with established economies in which foreign investors plan to invest.    For the ninth consecutive year, the US market continues to rank #1 on the Index as the market in which foreign investors surveyed and would expect to invest in the next three years. Canada has ranked #2 in 2020 and 2021, and together with the US, the North American market dominates as the top destination for foreign direct investment FDI.    What are foreign investors seeking in established markets with the lingering uncertainty of the pandemic?    While tax rates remain ranked as the most influential factor in deciding where to make a foreign investment, technology, innovation, and research & development (R&D) follow closely behind. These capabilities are common in most developed countries with established economies. And with the steep acceleration of the digital economy because of the pandemic, they are critical to global expansion for most companies.   The  Index also reflects the caution of foreign investors considering a location for foreign investment. Factors highly ranked or making a significant move up in the 2021 rankings include efficiency of legal processes, a transparent justice system, transparency of regulations, lack of corruption, strong investor protection rights, government incentives, and a business environment of security.   The high-ranking regulatory factors reinforce the desire for safety and stability to accompany the high-tech capabilities. The abundance of both in the U.S. market supports its #1 ranking as the top market to invest in, the world's leading economic power, the largest international financial centre, and the third-largest country in the world in terms of population.   The United States' strong points also include it being the world's largest recipient of foreign direct investment (FDI) with the US government's policies on taxation and regulation offer foreign investors wide freedom.  How to invest for foreign companies When considering foreign investments in the United States of America, government organizations at the federal and state levels have programmes to assist investors in the process of planning and executing an expansion.  These programmes provide a wealth of information, introductions to customers and suppliers, incentives, and other services to foreign companies expanding in their area.   At the federal level, SelectUSA is a US Department of Commerce programme to facilitate foreign investments into the US.  The SelectUSA Investment Summit held annually offers a full agenda and an impressive matchmaking platform for foreign companies to connect with economic developers, government officials, service providers, and each other.  SelectUSA also offers many events and services throughout the year, making it a great place to investigate a foreign investment in the US.   Beyond economic development assistance, foreign investors need access to information about the requirements and costs of doing business in the US. Working together with a network of advisors experienced in early-stage expansion is key to a successful expansion.    There are specific steps for certain foreign investments in the US, for example, establishing a US legal entity and setting it up for operation; working with US advisors in the legal, accounting and tax areas is crucial to starting off right and avoiding costly mistakes or missed opportunities. In country comparison, a US payroll will always be different from an investor’s home country, it’s important to work with a US accountant and payroll provider. They will help you learn and execute the required and customary practices to attract the talent you need, understand the HR-related costs for your business plan and avoid penalties from compliance mistakes.  Other important advisors include those in the immigration, banking, insurance, and talent acquisition space. Ultimately,  it should be a US accountant and tax advisor who will consult on the results from all operational decisions as seen in the books and tax filings for the new US operation. Therefore, be sure to put a US  accountant experienced in foreign direct investment at the top of the list to assist with your US expansion plans. Gather detailed information for your global expansion We have launched a new market entry platform - Centuro Connect, that dives into specifics for each country helping you do your research all in one place.It is completely FREE - no hidden costs - just the ultimate tool for understanding market entry options, HR, Immigration, Legal Requirements, Tax & Accounting for any country, access to our global business network and much more …. with 100 + countries it has the specific information you need from global expansion experts. To learn more about Foreign Direct Investment in the US Our team is made up of business leaders, lawyers, and advisors ready to help you go global with bespoke solutions. Our experience and expertise enable you to establish, connect and scale your business effectively in international markets. With our complete suite of integrated services and a global support network, experience how opportunities turn into possibilities. Get in touch with us today! 

Jul 07, 2021
Blog
Start A Company, Hr +2
Interview: Innovation And Leadership W/ Ronan Dunne

We recently had the privilege of speaking with Executive Vice President and Group CEO of Verizon Consumer, Ronan Dunne. In this exclusive interview, Ronan provides key insights into how 5G is transforming our lives, and the impact it has had on Verizon.How is 5G transforming Verizon / our lives?Ronan Dunne: Whenever a new generation of technology comes out, we’re always prone to saying, “So what’s the new – new?” 5G has significantly enhanced existing capabilities, including:- The use of mobile edge computing: the ability to push a computer off an individual device and to be on the edge of the network and rely on the low latency of the 5G network – means that industrial robots, which usually cost around 100 000 dollars, can now be built for 25 000 dollars as there is less hardware which needs to be inserted.- The ability of the 5G network to support 10 times as many connected devices are actually the reality of AR / VR reality. Instead of a headset that typically requires you to be wired to it, we’re talking about a clip on the side of your designer sunglasses, which is giving you an augmented reality capability, and practically speaking we’re about 12-18 months away from those products being commercially available.- Across all of these considerations, there is much to be excited about with 5G aiding a lot of what we dreamt of real in a short period.Is 5G currently available globally or only in the US?Ronan Dunne: In all fairness, mobile edge computing is very much in its infancy in relation to 5G. 5G capability is being deployed across all the world currently. It is mostly deployed in the mid-band regions, where a capacity of 3.5 gigahertz can be the sweet spot. In the UK, you can already enjoy 5G on your handset. There is massive capacity, for example, a download speed of 10Gigs, not 10 megs on a mobile device. This is coming out everywhere, however requires some of the standards to be upgraded and “SA standalone core” to be uploaded to the 5G networks.We’re talking about a 12-18 month cycle to deliver commercial-grade capabilities in the US and maybe 18 months behind that in Europe.As the current market leader, how does Verizon stay ahead and lead its market share?Ronan Dunne: The trick as a leader is not to do what is expected and to do the unexpected. Essentially divorce the industry and rewrite the rules of the game. My big passion is that actually, we’re not in the technology business at all. In my experience most consumers don’t buy tech, they buy the experience that tech enables.I see us as an experienced company. So my focus over the last few years has been turning the network in the service of the experience and outcomes. Rather than perhaps how Verizon was previously seen, as an engineering-led and network organisation.This has allowed us to evolve to the situation now, where much of what we do is around quality, choice, and experience. We partner with Disney, Apple Music, Google, etc. to create a platform that allows the most creative people across a wide range of industries to have access to the best tech that creates outcomes for customers. We have a well-executed platform strategy.What tips do you have as to how entrepreneurs could differentiate themselves?Ronan Dunne: At Verizon, we’re actually a service company, a subscriptions business, not a product. Typically, many think of us as a product business but the product is actually an Apple or a Samsung handset or device. The service is the ability to use that to do multiple things.  Depending on whether you’re in a product or service organisation, will determine the approach you need to take.Within a service organisation, two things I would say is:1. The service industry isn’t a homogeneous market – we focus on detail segmentation – we use segmentation as an acquisition tool. On the other hand, there’s value-based marketing, which is used as a retention tool.Once a customer joins Verizon, we build a profile of that customer, based on their engagement with us and the services we offer. So we then attribute that to build a capability, meaning that with every touchpoint that customer has with us, whether it’s the network itself or a retail store or elsewhere, we show up how the customer expects.  We use that rich insight, to know and recognise our customers.That’s really the key, to deliver personalised service and experience.2. We want to ensure that we go from the synergy of scale to the beauty of a personal relationship. We are the largest telecommunications company on the planet; we have 100 million consumers every day and 130 million customers overall between consumer and business. But every one of them is an individual and our ability to personalise is an essential ingredient as to how we differentiate.I think in any business, whether it’s service or product if you at least have that mindset you will be focused on what the customer truly values, not what you believe is important.To discover more about this insightful interview, watch the full episode here:We are pleased to share that Ronan Dunne will be joining us as a speaker at our upcoming Global Expansion Conference 2022. He will be presenting on the pressing topic of “Future Leaders: Nurturing the next generation of sustainable leaders”. His speech will aim to answer critical questions such as: How should leaders change to meet the demands of a new world of work, one in which companies are borderless? Emerging markets demand increasingly experienced talent; how do you manage them?  This is a session ALL leaders should aim to be a part of. Register for a ticket NOW! 

Oct 11, 2021
Blog
Start A Company, Hr +2
The Third Edition Of Our Magazine: Centuro Connect Is Here

We are delighted to share with you our third edition of the Centuro Connect magazine. Things over at Centuro Global have been so busy, with many new milestones being achieved and our team growing in size and capabilities.We hope that the content in this magazine helps to reflects our appetite for risk and trendsetting. Our goal is to change the status quo of traditional tested methods of business and push ourselves beyond the normal boundaries.  Some of the key topics include in this edition will cover:-Latest update and summary of Centuro Connect -Insights and dedicated features related to Legal, Insurance, Marketing, Immigration and Tax -Events -Quick ReadsAs we head into the Autumn, we are excited about our upcoming plans, growing our community, and increasing the deal flow in the network. This issue provides updates and insights into the last quarter, and we hope you enjoy reading the content.To access the full magazine, please click HERE.  

Sep 30, 2021
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Start A Company, Hr +2
GAMING AND BETTING IN BRAZIL

2021 saw the 75th anniversary of the general ban of games of chance in Brazil1. The last roulette spin was played in the casino of the iconic Copacabana Palace Hotel on the night of 30th April 1946, when President Dutra issued a Decree-Law confirming the prohibition. Ever since, such general ban has been embedded in the controversial article 50 of the Criminal Contraventions Law, which defines games of chance as those where the result of the games relies exclusively or predominantly on luck and does not authorize them to be conducted in public venues or those accessible by the public, whether an entry is required or not. In the context of the foregoing, considering the internet as a public venue or one accessible by the public has attracted a lot of discussions, especially since hundreds of foreign online gaming and betting operators currently access the Brazilian market and accept bets from Brazilian punters. A conservative interpretation of the Criminal Contraventions Law would indeed consider the internet as satisfying the requirements for being deemed a public venue or one accessible by the public, especially as from 4th August 2015, when Federal Law No. 13,155/2015 amended paragraph 2 of Article 50 of the Brazilian Criminal Contraventions Law to specify that players betting online are equally subject to the payment of a fine. Currently, the only legal forms of authorised gambling in Brazil are:State-run lottery (both at Federal and State level), including scratch cards;Horse race betting at authorised racetracks;Online or land-based fixed-odds sports betting (pending regulation to be issued in 2021, as promised by the Federal Government, subject to licensing). Horse race betting is allowed at authorised race tracks in Brazil It follows from the above that the deciding factor in ascertaining whether a game is considered to be one of chance in Brazil is the extent to which winning or losing depends on luck or skill. Whenever the outcome depends predominantly on skill (even if luck is a factor in the result), the game will not be considered gambling and, hence, will not be subject to the restrictions of the Criminal Contraventions Law.Recognition of the distinction between games of skill and games of chance is increasingly present in Brazil nowadays. Skill games are generally referred to as “mind sports” (esportes da mente, in Portuguese). In this regard, the Brazilian Federal Government recently approved the Brazilian Chess Association for the Visually Impaired, the Confederation of Texas Hold’em, and the Brazilian Bridge Federation, recognizing that such games are sports. The Brazilian Federal Government recognizes Chess as a sport.In the context of the above, there are two main bills seeking to legalize all forms of gambling in Brazil, one proposed in the Senate and the other in the House of Representatives. Neither bill has yet been approved by the house where they have been respectively proposed:House of Representatives Bill of Law No. 442/1991Seeks to legalize various forms of gambling, both online and land-based.Registry for gambling addicts will be put into place and an individual will be included either by choice or judicial order. Such persons cannot gamble.Licensed entities must be:Incorporated under Brazilian law, with headquarters and management in the country;Technically capable of conducting the activity; and Financially and economically credible.Shareholders/managers must also provide documents such as income tax returns and clearance certificates, have no criminal precedents, etc.Servers for online gaming operators must be located in Brazil.Land-based casinos: the number of establishments per state varies between one and three and is based on the number of inhabitants of each state. Based on the current population of each State:São Paulo could have up to 3 casinos.Rio de Janeiro, Minas Gerais and Bahia could have up to 2 casinos each.Other Brazilian states could have 1 casino each.This limit would not apply to hydro-mineral resorts where casinos have previously been operated (i.e., certain cities in the State of Minas Gerais).No group may be granted two licenses in the same state, nor more than 5 licenses in the country. Licenses will be granted for 30 years, renewable for another 30 years.Senate Bill of Law No. 186/2014Seeks to legalize various forms of gambling, both online and land-based.Providers must comply with Central Bank rules regarding:Identification of players.Communication of financial transactions.Keeping of records.The first concrete development towards the legalization of gaming and betting came at the end of 2018, with the enactment of Federal Law No. 13,756/2018, legalizing fixed-odds sports betting, both land-based and online. The law defines fixed-odds sports betting as a lottery modality consisting of a betting system related to real sports-themed events (and, therefore, in principle, not to electronic sporting events), in which how much the punter can win if his/her prediction is correct is defined at the time the bet is placed. At the end of 2020, the Brazilian regulator (SECAP – a division of the Ministry of the Economy) announced plans to roll out regulations for fixed-odds sports betting by July 2021, a promise which was not honoured.In its latest draft decree released last year, SECAP opted for the concession licensing model out of the three possible approaches (being the other two approaches: authorization licensing [which would entail an unlimited number of licenses] or monopoly licensing). Under the concession model, operators will have to bid competitively against each other to "win" one of the few licenses limited in number. Initially, it was expected that no more than 30 operators would be able to function in Brazil at any one time. However, the latest rumors indicate that the total of available licenses should be between 50 and 100. But considering that approximately 500 foreign sportsbooks are believed to be currently operating in Brazil's market, even this increased number of licenses may not be sufficient. However, there is still hope this wind may change direction. Sixty-six companies responded to a recent Request for Information issued by Brazil’s National Economic and Social Development Bank (BNDES) and thirty-eight were selected to receive a Request for Proposal to select a company or consortium of companies to assist BNDES in structuring the industry for fixed-odds sports betting in Brazil, which would include working with SECAP in defining the most appropriate business model and legal framework. The news is that the qualifying applicants had not yet received such RFPs by mid-July and this is the reason why SECAP could not honor its promise to roll out the regulations. This may now happen in the months to come.Besides not defining the licensing model for fixed-odds sports betting in Brazil, Law No. 13,756/2018 was also greatly criticized by the industry for contemplating a turnover tax (3% for online operations and 6% for land-based operations), in addition to the taxes usually paid by companies operating in Brazil.Fortunately, this changed in July 2021 when Law No. 13,756/2018, by means of an Amendment to Provisional Measure No. 1,034/2021, which was converted into Law No. 14,183/2021, whereby Gross Gaming Revenue (GGR), rather than total revenue/turnover, became the basis for calculating the additional tax paid by licensed operators.ARTICLE CONTINUED HERE

Sep 15, 2021
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Start A Company, Hr +2
GAMING AND BETTING IN BRAZIL (CONTINUED)

GAMING AND BETTING IN BRAZIL CONTINUED...As the law now stands, payout (without limitation) and the corresponding withholding income tax (levied at the rate of 30%) will be deducted from the operator’s total revenue to form the tax basis. The gaming tax now applicable can be broken down as follows: Allocation of proceeds Law No. 13,756/2018 Law No. 14,183/2021 (which amended Law No. 13,756/2018) â€¯ Land-based operators Online operators Land-based operators Online operators Social security, subject to the provisions of article 26 of Law No. 8,212 of 24th July 1991 0.5% 0.25% 0.10% 0.05% Entities and units of the public, elementary, and high school units that have achieved the goals established for the results of the national basic education evaluations, as per the norms of the Ministry of Education 1% 0.75% 0.82% 0.82% National Public Security Fund 2.5% 1% 2.55% 2.55% Soccer entities that assign the rights of use of their names, trademarks, emblems, anthems,  symbols, and other similar signs for advertising and conduction of the lottery 2% 1% 1.63% 1.63% Payout and withholding income tax Min. 80% Min. 89% 95% 95% Gross gaming revenue Max. 14% Max. 8% As far as enforcement actions are concerned, these have so far focused only on local operators and money laundering issues. Since Brazilian credit card companies are subject to controls established in the Brazilian Anti-Money Laundering Law (Law No. 9,613/1998, as subsequently amended), which deems money laundering to be a crime when the monies laundered derive from any illegal activities (therefore, not only from crimes but also from criminal contraventions), some of them do not authorize clients to use their credit cards on gaming and betting websites. Brazilian credit card companies are subject to controls.Once fixed-odds sports betting is regulated and licenses start being issued, it is likely that enforcement against offshore operators that are not licensed locally will increase significantly.  Besides the legislative front, gaming and betting in Brazil have also been impacted by judicial decisions, especially those emanating from the Supreme Court (STF). In this regard, the courts of the State of Rio Grande do Sul are generally of the opinion that the Federal Constitution, which was enacted after the Criminal Contravention Law (which prohibits games of chance), revoked such law. Accordingly, such courts have issued decisions allowing establishments that exploit games of chance to remain open in such States (with certain restrictions until this is definitively ruled upon). The matter has been taken to the STF and has been deemed to be of “general repercussion”, which means that the ruling will be binding on all Brazilian courts. All lower court cases are suspended until this leading case is ruled upon. If the STF rules that the restriction on gambling is indeed unconstitutional, all forms of gambling could, potentially, be legalized without regulation.  The STF case and the bills of law mentioned in this column have been under review for a long time and are deemed extremely controversial. A ruling by STF, which may lift all restrictions on games of chances in Brazil, was expected for 7th April 2021and was then postponed for an indefinite date. In the light of the disruptions caused by the outbreak of the Covid-19 pandemic, it is uncertain whether there will be major progress in these matters within the next months.  Another important STF decision issued towards the end of last year and which unanimously ruled the end of the Union's monopoly on the exploitation of lottery modalities has also had a great impact not only on the lottery industry but also on fixed-odds sports betting. In its decision the STF recognized the Federal Union’s authority, embedded in clause XX of article 22 of the Federal Constitution of 1988, to legislate on consortia and draws (including lotteries), but that such authority does not preclude the States’ authority to exploit and regulate lotteries. Following this decision, several Brazilian states have taken the necessary steps to launch their own lotteries. However, the federal government wants to limit bets in state lotteries. In this regard, it is expected that SECAP will publish in the near future an ordinance establishing rules for the creation of lotteries and sports betting systems at the state level. One of them is the adoption of mechanisms that prevent bets from other states of the Federation. One of SECAP's goals is to prevent the creation of state lotteries from emptying federal concessions for the sector, but the measure can be challenged and end up in court. Several Brazilian states have taken the necessary steps to launch their own lotteries.  Moreover, the STF decision, not only an important victory for Brazilian states which have been exploiting their own lotteries, but may also potentially impact the regulation and exploitation of fixed-odds sports betting in Brazil, since, as previously mentioned, they have been deemed by law as a lottery modality. This means that, at least in theory, while Brazilian states will be in a position, following the STF ruling, to exploit any form of lottery already in existence at the federal level, and given that fixed-odds sports betting is a form of lottery, Brazilian states may be able to impact the federal licensing program by granting licenses to operators at State level.  It follows from the above that gaming, betting, and lottery industries are gaining greater momentum in Brazil. This may be incremented now that Senator Ciro Nogueira, who has in recent years spearheaded the legalization of all forms of gambling in Brazil, has been appointed by President Jair Bolsonaro as his Chief of Staff (Ministro da Casa Civil). We will have to wait and see. For more information on Brazil and doing business in the LATAM region, we have launched a new platform - Centuro Connect, that dives into blueprint specifics helping you do your research all in one place. It is the ultimate tool for understanding market entry options, HR, Immigration, Legal Requirements, Tax & Accounting, and much more. TAKE A LOOK AT THE PLATFORM 

Sep 14, 2021
Blog
Start A Company, Hr +2
How Midsize Companies Can Compete In AI

The move towards AI-powered startups and mid-size businesses continues to grow rapidly, as companies leverage AI's capabilities. There seem to be two key streams of companies who appear well-positioned to explore AI and the impact on their business: startup ventures and multi-billion dollar giant corporations.  In a recent article by Harvard Business Review (HBR), they outline some of the ways in which AI ventures can help to support midsize companies.   If a midsize business wants to thrive in the AI era, it will need to evaluate the new ways in which it can become more competitive. This might include some options that have not yet been considered. Three examples HBR provides include:  1. Source cross pool data. By sourcing and organising data from multiple sources, mid-size companies are able to train and deploy machine learning (ML) algorithms for a variety of applications.   2. Source an in-house team of experts trained in AI to develop unique solutions. This is to help prevent putting long-term value creation.   3. Connect to an AI-focused CVC fund. This helps midsized firms to pool financial resources as well as technical and business expertise to scan and invest in the AI startup scene.  By offering access to an interconnected network of firms, rather than just a single firm, these joint ventures may also be more interesting partners for startups seeking financial and complementary resources.  READ THE FULL HBR ARTICLE ON HOW MID-SIZED COMPANIES CAN COMPETE IN AI HERE.

Sep 13, 2021
Blog
Start A Company, Hr +2
Selling In Russia

Russia remains one of the most interesting markets in Eastern Europe for foreign entrepreneurs because of its high market potential and low competition in many industries. On the other hand, speaking from the perspective of the Western world, Russia is a peculiar ecosystem in the economic and legal sense. Russia is not the EU, which means the rules for doing business are different.Saint Basil's Cathedral. Church in Red Square in Moscow, RussiaRussia exists under sanctions and pressure from the West. Russia has its own digital ecosystem - Google is not the main search engine, Facebook is not the main social network, and Amazon is not the main e-commerce platform. Despite this, we see that a significant number of global companies have expressed an interest in doing business both with Russia and with the entire Russian-speaking audience. And when you enter the Russian market (144 million people), your business automatically comes to the attention of 260 million Russian-speaking people around the world.Sales in Russia 2020The Economic Crisis and the consequences of the restrictions imposed in connection with the COVID-19 pandemic have had a significant impact on the development of trade in Russia:● Wholesale trade turnover increased by $3.6 billion in the Russian Federation in 2020 compared to 2019 and amounted to $1.1 trillion at the end of the year.● Retail turnover decreased by 4.1% in 2020 compared to 2019 and amounted to $454.8 billion. Retail sales of food products fell by 2.6% up to $222 billion, non - food products-by 5.2% up to $232.8 billion;● According to the Association of E-Commerce Companies, the volume of the Russian e-commerce market in 2020 increased by 58.5%, up to $43.3 billion, while its share in the total sales of the retail market amounted to 9.6%. Due to the pandemic, a drop of 25% was recorded in the cross-border model.Based on the results of 2020, e-commerce has become one of the most dynamic sectors in the Russian economy. It is worth mentioning that because of the pandemic and the imposition of restrictions in the Russian Federation, as well as around the world, different segments of the consumer market have been substantially transformed. In particular, the demand has dramatically transferred from physical stores to online merchants. The largest online hypermarkets and marketplaces have strengthened their leadership online, and many retailers have initiated active development within a multi-channel model of interaction with customers which were linked not only with the development of their own online stores and delivery, but also with the development of applications for mobile devices, cooperation with marketplaces, and development of joint projects with other retailers and service companies.E-commerce has become one of the most dynamic sectors in the Russian economy.Specificity of the Russian MarketRussia is ranked 28 in the Ease of Doing Business (The World Bank). The country holds a higher position in the following rating categories: Getting electricity (7), Registering property (12), Getting credit (25), Enforcing contracts (21), and Dealing with construction permits (26). Such conditions promote the development of entrepreneurship in Russia, including the influx of foreign trade operators.An important factor in the development of modern trade is the e-commerce segment. Russia holds the 25th position in The Inclusive Internet Index, having a positive impact on the e-commerce development in the country. In this regard, representatives of retail and wholesale sales should give special consideration to the company's presence on the Internet, in particular, to the adaptation of web resources into the Russian language.Hermitage, Palace Square, Saint Petersburg, RussiaRussia is a huge country, so logistics play a special role. Not only product delivery to the country should be considered, but also its transportation across Russia. In The Logistics Performance Index rating, Russia held only the 75th position, due to the low infrastructure quality assessment and complicated customs clearance, which is one of the barriers to foreign companies entering Russia. Another unfavorable factor is administrative barriers and complex legislation.Peculiarities of business promotion in RussiaThe first thing which should be considered to promote in the Russian market is the localization of advertising materials, web resources, and other content into the Russian language. It is not just the translation, but the processing of all materials in accordance with the Russian legislation, the peculiarities of the language, and the cultural characteristics of Russian consumers. For example, vulgarities, sex jokes, and the demonstration of losers in advertising are not relevant for a Russian consumer.Vulgarities, sex jokes, and the demonstration of losers in advertising are not relevant for a Russian consumer. Once I had a conversation with the Head of a New York representative office of a large network agency. He promoted Western FMCG products on the Russian market at the beginning of the ’90s. He noticed the high level of education of the Russian consumer. To increase sales of laundry powder in most developing countries, it is enough to show a funny dance and a happy family. The Russian consumer doesn’t believe such advertising messages. In Russia, commercials with tests and experiments, scientific facts proving the effectiveness of the product worked well.If you look at the whole world, you can distinguish four large digital ecosystems. The first one includes North and South America, Europe, and most of Asia: Google, Facebook, Apple, etc. Next, China, South Korea, and Russia stand apart with their own special ecosystems. The reasons for China are familiar to everyone - everything is blocked. The firewall simply keeps out Western media giants. There are no restrictions on Western services in Korea, but they are not popular there for political reasons. And only in Russia, there is real and fair competition between media giants. And, of course, this is because of the fundamental mathematical education (and as a result, a great many qualified programmers), that has been in Russia since the Soviet Union.Zhivopisnyy Most, Moscow, Russia In this connection, the second important factor to be taken into account when promoting is the Russian unique digital ecosystem, which includes Russian-language channels that are little known in foreign countries:● Yandex search engine and its services are the most popular in Russia (84.3 million users) and Google occupies the second position (82.4 million users in Russia, according to Mediascope research company for May 2021).● The most popular social network in Russia is VKontakte. More than 70 million Russian people use the social network every month. Another Russian social network, Odnoklassniki, with an audience of 42 million users is in the top three in Russia. Facebook ranks in only fifth position with an audience of 35.8 million users in Russia.Facebook ranks in only fifth position with an audience of 35.8 million users in Russia In the category of marketplaces in Russia, there are also players that are not represented in the world market. The top Russian trading platforms include AliExpress Russia, Yandex. Market, Ozon, Lamoda and Wildberries. The turnover of the largest companies on average increased by more than one and a half times over the year. Such growth has become a steady trend due to the increased competition and state policy aimed at business localization.For more information on doing business in Russia, we have launched a new platform - Centuro Connect, that dives into blueprint specifics helping you do your research all in one place. It is the ultimate tool for understanding market entry options, HR, Immigration, Legal Requirements, Tax & Accounting, and much more.EXPLORE THE PLATFORM

Sep 13, 2021
Blog
Start A Company, Hr +2
Top 3 European Countries For International Expansion From The UK

Are you considering expanding your UK business into Europe, but unsure of which best countries to start with? We’ve broken down three of the best countries you should be considering as part of your global expansion process - France, Germany, and Denmark. Our selection criteria based on a range of benefits includes key market information and quality of life.Which country is best for you will be dependent on your sector. If you’d like more information about expanding into over 150 international markets you can sign up to Centuro Connect FREE for detailed global expansion strategies.1. FranceIt can be easy to overlook the UK's closest neighbour for opportunities further afield, but France has one of the largest economies in the world. They also have world-leading electronics, manufacturing, health, education, and finance sectors, making it one of the best countries for business in those industries.The country has a population of  67 million and has access to the EU single market. There is a well-educated workforce, with 34% of 25-64-year-olds holding a degree making it a good job market as well."France is a top-ranked country in regards to its quality of roads, railways, ports, and other infrastructure."In regards to residing in France, there are notable benefits to be had from both a corporate and social standpoint. For example, residents’ work/social-life balance is important. The Labour Code forbids work on a Sunday and overtime has an impressive 25% bonus. Whilst these are largely employee benefits, it gives business owners insight as to the approach to the balanced work-life in France. With a good balance of work and social life comes higher levels of productivity from your workforce.In addition to the above, government policy is favourable to entrepreneurs. President Emmanuel Macron once stated that he wanted to make France “the start-up nation”. As a result, there is considerably less red tape to fight through when setting up in France as you may encounter in other nations. For example, there is such a thing as a French Tech Visa. This acts as a fast-track way to residency for foreign tech talent.2. GermanyGermany is home to a highly educated and multinational workforce - a key factor to consider when expanding abroad and recruiting locals. In fact, business is the most studied degree in Germany, closely followed by social sciences and engineering. Additionally, The nation's second most spoken language is English, spoken by over 56% of residents. Communications are a big factor to consider when going global, particularly if you don’t speak the local language yourself."Germany's corporation tax is only 15%."Setting up in Germany also requires less backing than many other locations in Europe. One notable benefit is that only one director and one shareholder are required to set up a company in the country.In terms of the marketability of your services or products, Germany’s population is 82 million. This makes it the biggest market in all of Western Europe. Logistically, the country is also well situated in central Europe. This allows excellent access to surrounding countries and, in turn, their markets too.There is a growing belief that as the UK leaves the European Union business owners will choose Germany instead. Germany will likely take advantage of this and as a result, there could be good incentives to expand here. For this reason, we’d recommend keeping a close eye on Germany and what it can offer your business.3. DenmarkDenmark has not only a strong economy but has also been listed as one of the best countries in the world for cross-border trade. This makes it ideally suited to support international businesses. It is well connected to the other countries in this article, positioned north of Germany & France, and is also well connected for international supply due to its long coastline.In terms of relocating you, your family, and/or your employees, the country has some of the highest living standards in the world. It is also recognised as having the second-highest levels of gender equality in all of Europe, second only to Sweden."There is no need to immigrate or relocate to Denmark when setting up a business there. Local law allows business owners to do this remotely which can significantly simplify your international expansion strategy."Getting started here is quick, taking only 3.5 days to register a company. It is 3rd on the rankings of the easiest countries to do business in the world - which incidentally makes it the best in Europe.Whilst commonly overlooked, Denmark is one of the best-kept secrets when it comes to expanding your business overseas from the UK.If you would like to know more about any of the countries on this list, why not take a look at our new AI-powered Centuro Connect platform? It has detailed timelines and strategies for your global business expansion from our leading team of expansion experts.If you need help finding connections in the country you would like to expand into, the platform helps you liaise with approved partners in order to help you on your journey.Click here to find out more about the Centuro Connect platform and sign up completely free!

ZAIN ALIJul 27, 2021
Blog
Start A Company, Hr +2
What To Consider When Expanding Your UK Business Abroad Post Brexit

Brexit has posed both opportunities and challenges for various industries since the UK finally left the EU on January 1st, 2021. Some businesses will thrive under the new trade deal agreement, while others will reminisce about the old days of closer links to Europe. For the latter, international expansion into new markets could be a realistic and lucrative option.Expanding or relocating your business will open up opportunities for new trading deals, resources, consumer markets, and infrastructure. Regardless of your industry or product, there’s likely to be a European destination well suited to your commercial needs.Knowing where to start can be a difficult process. Factors such as time, finance, logistics, and justification all need to be considered. Fortunately, Centuro Connect has created this five-step checklist to ensure you’re on the right track with your post-Brexit business expansion.Watch our webinar on Doing Business in a post-Brexit EuropeIncentives For Global Business ExpansionOne key consideration should be whether the international market you’re looking to expand into has financial incentives. Some European countries have low start-up fees, generous tax reductions, and grants. This can make your global expansion process quicker and more cost-effective. Some countries have capitalised on Brexit and offered additional incentives, partly with the view of attracting UK businesses into their market. An example of this would be France's recent initiative that invests in startup tech companies with a Tech Visa. This stated, some countries may seem perfect for your business and services, but in actual fact you’re coming up against a lot of red tapes. In the same way, be vigilant about deals that seem “too good to be true”, and look out for long or expensive processes. Use the following questions to narrow down your shortlist of countries for international expansion by evaluating what they can offer you, before considering what you will do for them:What is the funding process in my chosen market?Which markets can offer me the best incentives?Are there any specific visas relevant to my industry?ImmigrationImmigration laws will be a key factor in how you expand your business overseas. European countries will have differing immigration laws, meaning you’ll have to extensively research which market suits your needs.Some countries will allow you to set up remotely, allowing you to oversee operations from your current location. This is particularly useful if you’re not looking to relocate your entire business and will save on personal travel and accommodation expenses over the duration of your setup.If you are looking to move with your business, it’s essential that you research visa requirements. Some international markets allow easier entry for certain industries. Examples of this would be the EU Blue Card or a Tech Visa. Use this immigration checklist before moving forward with your expansion journey:I understand the visa requirements for my chosen countryI know whether or not I am entitled to some form of business visaI can set up my business remotelyI know whether I need a resident of the country to be involved in the business setupTax & AccountingKnowing exactly where to begin with tax and accounting can be a minefield for business owners when expanding overseas. As a minimum, businesses will use an end-of-year accountant to ensure the company’s books are in order and that they are adhering to taxation laws. It can be a stress-inducing task, but entirely manageable with the right help.There should be no assumption that tax laws operate the same in alternate markets. Below is a list of things you should be aware of and checking throughout your new tax setup:If outsourcing, find a trusted accountant to work alongside youDevelop a good relationship with your accountant through frequent communications and sharing business plansDevise a tax risk management plan for safetyHave a cash repatriation infrastructure readyEmploymentYou may be familiar with employment laws in the UK, but requirements across Europe vary significantly depending on where you expand into. One notable example which varies from country to country is weekly working hours. Some governments enforce strict limits on hours that can be worked by anyone employed in a week. This should be a consideration when hiring your workforce, as a team of eight in the UK may need to be a team of ten elsewhere.In addition, there are lots to consider when addressing factors such as payroll, annual leave, HR, and contract setup. Be sure to address these employment questions along your global expansion journey:Is a local payroll provider required?What will my employees be entitled to from me, the employer?Who/what is required to draw up an employment agreement?What are the options to terminate employment?What type of work permits are available for any non-local hires?What are the legal maximum working hours per week in my chosen country?Community, Culture & Global ExpansionWhen expanding your business abroad, you aren’t just relocating assets. Very often you will be moving with your business and, for that reason, you should be confident of the area - the culture and social aspects of your new life. You will already know to brand your business in a way that appeals to the culture of the new market. In the same way, you prepare to give your business the best head start, you should do it for yourself and your family. Familiarise yourself with local traditions, language and make an effort to integrate yourself into the community. Below is a list of things you could do to make this transition period as enjoyable as possible from a personal standpoint:Partner with other local businesses or figures in the communityFamiliarise yourself with the language - app stores are full of fun tools for thisLearn about the history of your new locationJoin a local not-for-profit, such as an improvement districtPutting it into practiceThe Centuro Connect platform allows you to track all of the above in one centralised process.The AI interactive platform has details on tax, immigration, market entry points, HR, marketing, and real estate for 150+ countries. Contactable and reliable experts are also on hand to help you ace your expansion. The entire platform and its contents have been specifically designed to have a simple sign-up process and easy-to-use features.You can sign up for the Centuro Connect platform today! There’s no risk, and no endless documentation to fill out. Just a wealth of information and like-minded experts to help you throughout your international business expansion.Find out more about global expansion benefits and Centuro Connect here.

Jul 26, 2021
Blog
Start A Company, Hr +2
An International Expansion Case Study - Just Eat

Scaling your business from your local market abroad provides a wealth of opportunities. Perhaps most notably is the new market entry advantage. Just because your organisation is operating well in its local market doesn’t mean there isn’t a new opportunity out there that will prove even more successful. Just Eat is one of the most globally recognised takeaway services, with it successfully operating in the UK, Canada, Australia, France, Italy, China, and Spain, to name a few. What many aren’t aware of is that Just Eat's home country is in fact Denmark. One of the key reasons this is little-known is because the company didn’t truly take off as a service until it relocated to the UK in 2006. So, why is it that? This case study explores Just Eat’s global expansion strategy, why it was successful, and how effective business planning turned them into a global household name.New Market Opportunity One of the most notable areas that Just Eat succeeded in during its international expansion was defining and serving the market most relevant to them. Whilst Denmark was providing the company opportunity, Just Eat noted the demand of the UK takeaway market. They were bought out by Bo Bendtsen in 2005, who decided to launch the Just Eat Headquarters in London.To provide context to just how much the UK market could offer, over 50% of Europe’s food delivery industry is based in Britain. Adapting and expanding to serve a well-suited market proved a smart move for the takeaway business. As of 2017, over 70% of the company’s revenue came from the UK alone, despite being located in over a dozen countries worldwide by this time.Connect’s Tip:If you’re looking to expand your business abroad, first try to define "why and where". You may have a dream of moving to a specific country, but if that new country and its market don’t serve your business framework then you should continue to research other alternatives. The perfect opportunity is out there, so be open to all options for you and your business!Further Expansion & Buying PowerWhilst international expansion is a step-by-step process, with success comes the opportunity to further expand your business. This is exactly what Just Eat did, with the Netherlands and Ireland being the next locations for expansion in 2007 and 2008 respectively. By this point, the company was growing rapidly, as well as acquiring multi-million-pound investments with the view of buying out competitors further afield. Within the next 10 years, the company had either expanded to or bought out their market competition in Australia, Canada, and the UK. At the time of writing this article, they are operating in some capacity across 23 different countries.Just Eat is also a partner to other existing businesses in Brazil and Columbia, proving a versatile approach to their international expansion method.Connect’s Tip: Like with Just Eat, a versatile approach to international growth often means more opportunities come your way.Whilst their journey was far from an overnight process, Just Eat assessed every market competitor and approached each new venture with a different expansion strategy. Whether it came down to expanding as their own brand or buying out/partnering with their competition, Just Eat’s varied strategy is what has ultimately helped them become a global market leader. Branding & SponsorshipBranding is something that can easily be lost in the wider picture when expanding your business globally.Whilst your business will already have a brand identity, it’s important to consider what may potentially work even better in other markets. Just Eat has done a great job at not only changing branding, messaging, and logos to keep up with the times, but also tailoring it to their various markets.For example, when acquiring existing takeaway competitors in Australia and Canada, Just Eat chose to maintain the already familiar names of the companies and simply rebranded the logos to the trademark ‘Just Eat logo style’. This means that in Australia Just Eat is known as Menulog and in Canada, Skip The Dishes. Maintaining the corporate identities of companies that the new markets are already familiar with gave Just Eat a valuable head-start when relocating to new countries. You’ll see below the examples of each brand and how they compare.In terms of international sponsorship, this is yet another area in which Just Eat has succeeded. Previously shirt sponsors of English football club Derby and Belgian side Oud-Heverlee Leuven, the company ensured that their brand identity was visible to their target market across various countries. In a similar sponsorship deal, Just Eat also sponsored the 14th and 15th series of the UK X-Factor. Connect’s Tip:If you’re expanding into new markets, it’s important your strategy assesses how your brand will likely be perceived in your new location. Ensure that translations are appropriate and coherent to foreign audiences or clients and that you are appealing to the correct target market from the start.The Just Eat expansion journey has been going for over 14 years now. Relocating and expanding your business is a long process but, as you will have seen, one that provides a great wealth of opportunity when done correctly.Start your expansion journey with your own free downloadable resources! Define your goals, set a timeline, and check them off as you go. See this as the starting point as you get your business expansion underway.For further assistance in your own global expansion journey, the Free Centuro Connect platform is here for you...Centuro Connect - The best New Market Entry PlatformThe Centuro Connect platform has been created as a centralised cluster of resources for entities looking to enter new markets. The Centuro Connect platform has details on tax, immigration, market entry points, HR, marketing, and real estate for 100+ countries. Contactable and reliable experts are also on hand to help you ace your expansion. The entire platform and its contents are completely free to use and have been specifically designed to have a simple sign-up process and easy-to-use features, all whilst does not cost businesses a penny!You can sign up for the Centuro Connect platform for FREE today! There’s no risk, no single hidden cost, and no endless documentation to fill out. Just a wealth of information and like-minded experts to help you in launching your business overseas.

Jul 20, 2021
Blog
Start A Company, Hr +2
Foreign Investment In The US

Global expansion into foreign markets is the key growth strategy for most companies around the world. Since the start of the pandemic, understanding the factors that influence where and how to invest in a foreign market has never been more critical.   Where to invest for foreign investors According to the 2021 Kearney FDI Confidence Index (Index), global investors remain cautious following the changes to the world economy in 2020, even as vaccines bring some predictions of global economic growth in 2021.   Caution by investors is reinforced by the continuing high rankings of developed countries with established economies in which foreign investors plan to invest.    For the ninth consecutive year, the US market continues to rank #1 on the Index as the market in which foreign investors surveyed and would expect to invest in the next three years. Canada has ranked #2 in 2020 and 2021, and together with the US, the North American market dominates as the top destination for foreign direct investment FDI.    What are foreign investors seeking in established markets with the lingering uncertainty of the pandemic?    While tax rates remain ranked as the most influential factor in deciding where to make a foreign investment, technology, innovation, and research & development (R&D) follow closely behind. These capabilities are common in most developed countries with established economies. And with the steep acceleration of the digital economy because of the pandemic, they are critical to global expansion for most companies.   The  Index also reflects the caution of foreign investors considering a location for foreign investment. Factors highly ranked or making a significant move up in the 2021 rankings include efficiency of legal processes, a transparent justice system, transparency of regulations, lack of corruption, strong investor protection rights, government incentives, and a business environment of security.   The high-ranking regulatory factors reinforce the desire for safety and stability to accompany the high-tech capabilities. The abundance of both in the U.S. market supports its #1 ranking as the top market to invest in, the world's leading economic power, the largest international financial centre, and the third-largest country in the world in terms of population.   The United States' strong points also include it being the world's largest recipient of foreign direct investment (FDI) with the US government's policies on taxation and regulation offer foreign investors wide freedom.  How to invest for foreign companies When considering foreign investments in the United States of America, government organizations at the federal and state levels have programmes to assist investors in the process of planning and executing an expansion.  These programmes provide a wealth of information, introductions to customers and suppliers, incentives, and other services to foreign companies expanding in their area.   At the federal level, SelectUSA is a US Department of Commerce programme to facilitate foreign investments into the US.  The SelectUSA Investment Summit held annually offers a full agenda and an impressive matchmaking platform for foreign companies to connect with economic developers, government officials, service providers, and each other.  SelectUSA also offers many events and services throughout the year, making it a great place to investigate a foreign investment in the US.   Beyond economic development assistance, foreign investors need access to information about the requirements and costs of doing business in the US. Working together with a network of advisors experienced in early-stage expansion is key to a successful expansion.    There are specific steps for certain foreign investments in the US, for example, establishing a US legal entity and setting it up for operation; working with US advisors in the legal, accounting and tax areas is crucial to starting off right and avoiding costly mistakes or missed opportunities. In country comparison, a US payroll will always be different from an investor’s home country, it’s important to work with a US accountant and payroll provider. They will help you learn and execute the required and customary practices to attract the talent you need, understand the HR-related costs for your business plan and avoid penalties from compliance mistakes.  Other important advisors include those in the immigration, banking, insurance, and talent acquisition space. Ultimately,  it should be a US accountant and tax advisor who will consult on the results from all operational decisions as seen in the books and tax filings for the new US operation. Therefore, be sure to put a US  accountant experienced in foreign direct investment at the top of the list to assist with your US expansion plans. Gather detailed information for your global expansion We have launched a new market entry platform - Centuro Connect, that dives into specifics for each country helping you do your research all in one place.It is completely FREE - no hidden costs - just the ultimate tool for understanding market entry options, HR, Immigration, Legal Requirements, Tax & Accounting for any country, access to our global business network and much more …. with 100 + countries it has the specific information you need from global expansion experts. To learn more about Foreign Direct Investment in the US Our team is made up of business leaders, lawyers, and advisors ready to help you go global with bespoke solutions. Our experience and expertise enable you to establish, connect and scale your business effectively in international markets. With our complete suite of integrated services and a global support network, experience how opportunities turn into possibilities. Get in touch with us today! 

Jul 07, 2021