Q1 at a glance.
The first quarter of the year tends to be busy and Q1 2023 was no exception. From a boom in our internal growth as well as our clients, to uncertainty in the tech startup ecosystem, this quarter had a variety of ups and downs. Join us as we explore our key growth moments this quarter and tips on how to navigate the hiring process when expanding to a new market.
A growing, global team.
As we enter our fifth year of business, we are experiencing our own growth and expansion. From the start of the quarter, we have grown by 20%, hiring multiple team members in each of our three offices. This growth is essential as we scale our internal operations for years to come and form the infrastructure needed to serve more companies worldwide.
Barcelona, we have arrived!
Our Barcelona team is fully formed and hitting the ground running, serving clients operating and growing in South- and South-East European countries.
Market Entry Tips
Employing staff in a foreign market? A few tips to consider...
As one of the most important factors of a company's international expansion plan, employing the right staff is key to growth & expansion but can present new challenges. From finding qualified local talent to candidates who meet work authorization and language requirements, the process is not always simple. Here are a couple of Do's and Don'ts we've helped our clients navigate when hiring in new markets.
Consider your employment options and weigh the pros & cons of each.
What are your hiring goals in this jurisdiction? Are you looking to scale a large team or just exploring the market? Does a Consultancy Agreement work best for you at this time, or do your growth plans merit establishing a local entity? Depending on the market to which you are expanding, there may be more options than you realize. Regardless of which you decide, set realistic timelines for hiring new employees and having the necessary structure in place to pay your new employees in this jurisdiction.
Rely on your first hire to manage all aspects of your business in a new market, i.e. Sales, Operations, Growth, Accounting, Payroll, etc.
This will lead to a very quick burnout and turnover rate, ultimately leaving you at square one. You will end up spending more time, money and effort to engage in the hiring process once more. Instead, communicate expectations from the start with clearly defined roles and responsibilities.
Learn more about your options to employ staff in new jurisdictions here:
Providing the 'glue' for a successful finance transition during a 12-month TSA Arrangement.
A US Private Equity Firm had recently undertaken a multi-country Carve out of a European-based business in the Media Intelligence space. The acquisition was multi-country, spanning across 6 European territories with a Transitional Services Agreement (TSA) in place for Year 1. By their nature, TSA Arrangements require careful navigation to ensure Buyer and Vendor teams, cultures and jurisdictions are transitioned both effectively and efficiently. A fundamental factor in this is the smooth transition of the core Finance Function.
"The Amesto Global Project Management team built key relationships with respective in-country Finance Teams, thus securing a huge contribution from these Finance Delivery Teams which far exceeded the normal TSA obligations."
– US Private Equity Representative
Amesto Global came on board for 12 months to help close the gaps and provide the support needed to navigate this complicated acquisition. We played a pivotal role in providing the 'Glue' to a respectful and successful Finance transition, at all times aligning the differing requirements and objectives of both parties to the TSA.
International Women's Month
A moment for our female leaders.
Having a team made up of 70% women, 50% of which hold a manager level role or higher is quite the accomplishment. To celebrate our own strives, we sat down with a few of the many powerhouse women who make up Amesto Global as they discuss careers, cultures and diversity in the workplace.