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Ask the Experts: Joanne M Farquharson
US Expansion Expert
US Expansion Expert
Joanne’s experience spans both sides of the Atlantic. She founded, built and sold two US businesses before moving to London in 2015. She has more than 15 years’ experience advising small and medium sized business in employee benefits, insurance, labour law compliance and risk management. She has a passion for growing companies and helping business owners actualise their goals. Based in Foothold America’s London office, she is conveniently available for those in UK and European time zones.
Foothold America helps businesses of all sizes overcome the many obstacles to launching and expanding in the US. They work with clients to identify the most cost-effective solution to initiate a credible US presence. Employee Management Services are often a way to test the waters, with low entry costs and easy exit. Foothold America also offer comprehensisve Subsidiary Management Services.
A word from our clients…
“You made it effortless, enabling us to focus on our customers and sales”
“You’re professional, caring, dynamic and highly knowledgeable”
"You were instrumental in helping my UK company”
If you’re thinking about expanding services to the US, we’d love to hear from you.
+44 207 691 4915
Hi Joanne, I am a final year student completing a group consultancy project for a global recruitment/search and selection company, focused on selecting a location for overseas expansion. I am researching Miami as a potential location, so is there any information you can provide, or sources that you can direct me to, that may be of use to my research? I am struggling to find information regarding visas/business requirements etc so that in particular would be extremely helpful if you can provide it. Kind regards Matthew Question from Matthew Peet-Farrow on 10/01/2018
Thank you for your inquiry. You might try: www.enterpriseflorida.com. If you are from the UK, you may also want to try British American Business. They'll have a Miami branch. https://www.babinc.org/. The Department of International Trade also has wonderful resources and regional US consuls. https://www.gov.uk/government/organisations/department-for-international-trade
Best of luck,
Our company is based in the UK, and we are considering expanding to the USA. We have heard some horror stories about healthcare expenses, and are looking for some elaboration on what to expect with a 1-5 person team of relatively healthy people between the ages of 34-55, can you let us know about this as we are used to the safety net of the National Health Service and this is a large concern. Thanks, Robert Question from Robert Lawrence on 09/01/2018
Thank you for your question. You've homed in on one of the greatest concerns of businesses expanding in the US. In addition to healthcare benefits, salaries are much higher than the UK.
I've summarised some helpful hints below.
* Rates and plan availability vary from State to State. You can expect to contribute $6k-£20k per employee per year depending on whether single or family coverage is chosen. To make it more challenging to budget, you can't ask during an interview what level of coverage the candidate wants.
* You mention ages and health of your team. In some instances, this is relevant. The cost of benefits we offer do not vary with age or health.
* You can also count on contributing about 4% of salary for pensions, referred to as 401K in the US.
* If you hire US employees, you can avoid the costs of setting up a subsidiary, moving costs, Visa services and other professional services. To simply have your US employees managed, you can expect to pay $20k-$25k per employee per year. You'll see a healthy discount with each added employee unless you are working with a firm that charges a percentage of salary.
I hope this hasn't been overwhelming. Please get in touch if I may be of service.