Growing Global
Even in uncertain times, businesses are looking to grow their operations and open new markets abroad. Growing Global explores how companies can best understand, meet, and overcome the many challenges they face when it comes to global expansion.
Business confidence is growing, and companies are actively investing to acquire new customers. Many of those will be in new markets. In our most recent C-suite barometer report, executives highlighted international expansion as a key strategy for 2024 and identified Germany, the USA, France and China as top growth opportunities. Motivated by increased competition within their own sectors, leaders must also anticipate and react to new entrants from other industries empowered by new digital technologies.
"In the most recent C-suite barometer, 25% of all businesses said they were looking to expand internationally."
Whether it be around finance, tax, technology, or sustainability, the global regulatory and reporting landscape is becoming more complex. Companies that seek to expand internationally now must navigate many different types of compliance. Knowing what is required, how to identify the information needed, what to report, and how regulation in one jurisdiction might be relevant to another can be the key to securely and successfully growing your business abroad.
Big data analytics and artificial intelligence are transforming how every company does business, regardless of size or structure.C-suite executives around the world identify digitalisation as a top investment priority, as data-led strategy becomes a pre-requisite for successful global growth. In this series we consider how companies can shape a digital strategy to grow, identify the right new markets and develop robust operations and supply chains, managing risks and reaching new opportunities.
Successful expansion into new markets is not just about numbers or technology, it is about people and cultural nuances. When you listen and learn from those with local experience, your growth journey becomes much easier.
Karl Bygrave, International Group Director, Lush
This year, in our Growing Global series, we delve deeper into these key themes and explore how companies can address the challenges and seize the opportunities they face when expanding internationally. The benefits of strategic international expansion are clear: market diversification, increased profit potential, an improved image and access to global talent and innovation.
However, the road to achieving successful global growth comes with complexity. By understanding regulations in different countries, using advanced reporting as a growth tool and harnessing the power of technology to optimise supply chains, companies can position themselves to excel in their international growth.
1. Navigating regulatory complexity
The first theme is learning to navigate the increasing complexity of regulation, whether it be around finance, tax, technology, or sustainability. Companies that seek to expand internationally now must find a route through many different types of compliance. For instance, technology companies expanding into the EU must comply with the General Data Protection Regulation (GDPR), which imposes strict data privacy requirements and significant penalties for non-compliance.
Healthcare and life sciences companies face even more stringent regulations due to the nature of their products. In this context, having a global perspective paired with local expertise becomes crucial. Companies that successfully manage regulatory compliance can reduce risks and build trust with stakeholders, providing a competitive edge in new markets.
2. Harnessing the power of reporting and insight
Understanding how reporting can provide a competitive advantage and an engine for global growth is a core part of successful international expansion. Corporate reporting has long been viewed as a critical element of compliance and fulfilling a licence to operate in different jurisdictions, but it’s rarely been considered a growth opportunity. As reporting evolves, particularly with the rise of environmental, social, and governance (ESG) criteria, it offers insights that go beyond financial health.
Investors are increasingly looking at how companies perform in areas such as sustainability and corporate governance, and companies that excel in ESG reporting will increasingly be able to attract further investment and command higher market valuations.
3. Expanding supply chains with confidence
There is increasing pressure to invest in ways businesses can supercharge and streamline their supply chains by building partnerships and harnessing technology. One of the toughest challenges any business faces when expanding internationally is establishing and managing a supply chain that is robust, compliant, and competitive. As in every other area of operations, technology and sustainability best practices are changing how companies build and operate their supply chains.
C-suite executives around the world are identifying digitalisation as a top investment priority, particularly in Artificial Intelligence (AI), machine learning, Big Data analytics, and Blockchain-based ledger documentation. These technologies help companies rethink their reliance on complex supply chains by using data and hardware to introduce circular economy practices, regenerative production, and localised operations.
Meeting compliance challenges in an increasingly complex world.
Many companies want and need to boost their performance because of constant national and international regulatory changes, such as the Corporate Sustainability Reporting Directive (the CSRD legislation). Although this complex legislation leaves many companies feeling confused about where to start, one key word is always central: sustainability.
Key themes shaping sustainable strategies across new horizons.
C-level leiders staan dagelijks voor grote uitdagingen. Hierbij worden thema’s zoals technologie, duurzaamheid en internationalisering erkend als de belangrijkste strategische prioriteiten en investeren leiders actief in deze thema’s om ervoor te zorgen dat hun bedrijf klaar is voor morgen. Dat is één van de belangrijkste uitkomsten van het C-suite onderzoek van Mazars, een jaarlijks survey naar de...
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We support your organisation to embed sustainability at the heart of its operations and to report on it thoroughly and reliably in line with legal requirements.
Global compliance & reporting services that make the complex simple.
As a result of the rapidly increasing global trade, your company may be confronted with complex customs (and related) legislation. Is your company involved in international trade and are your goods moved across the globe? Then, adequate customs planning and knowledge of import- and export regulations is key to avoid unnecessary risks and costs.
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