Will the tax cuts and Jobs act of 2017 send American jobs overseas? Patti Domm of CNBC asked several experts and received mixed responses on this. (https://www.cnbc.com/2017/12/19/tax-bill-includes-an-incentive-for-u-s-companies-to-invest-in-foreign-manufacturing.html) However these and many other provisions of the new tax bill only seem to apply to massive multinational companies. Can small and medium enterprises (SME) benefit from offshoring?
It’s not just the complexities of the American tax system that weigh against SME overseas expansion. There’s also the host country’s taxes and regulations, plus foreign languages, and if outside the Americas timezone differences. While it can be useful to complete tasks overnight, how will questions about process management be resolved off hours?
In order to avoid the tax complexities while gaining the benefits of overseas operations American SMEs need a business partner with operations in both countries. Such a partner should have a decades long track record of delivering results for American business clients, with stable management and workforce to ensure that they continue to deliver.
As each company has different needs and capabilities, Their idea offshoring partner would need to adjust to these rather than forcing one-size fits none prepackaged “solutions”. Some clients start with fully documented projects to be completed line by line while others start with free form requirements for a certain number of workers to be trained on their tasks. But they all need a partner who can evolve to meet their changing needs rather than dealing with a cloud of different freelancer agreements that all need to be renegotiated together.
Partner flexibility is useless without the proven strength to comply with the client’s regulatory needs. A single HIPAA or other data breach or a mishandled call could cost the company in fees or reputation. A simple “trust us” won’t do. The partner needs to demonstrate a record of compliance and show how they will meet the client’s regulatory needs.
Is it possible to even find such a partner? Yes it is, because this is exactly what Telegenisys has been doing since 1994. Call or write today and find out how quick, easy and affordable international operations can be.