AMESTO GLOBAL IN THE NEWS
Many companies still find that setting up abroad can be too complicated. This is the market that Amesto Global is now addressing.
Amesto Global was established as an intrapreneur initiative in 2018 to make it safe and easy for Norwegian companies to establish themselves in the US and Europe. It has taken some time to get Amesto Global up and running, but now the company is getting a real boost. Last year, turnover rose by 45 percent and the company now has 25 employees in London, Dublin, Limerick, Barcelona, New York and New Jersey. Amesto Global specializes in international expansion for entrepreneurs and SMEs.
“One of the most important tasks we have is to help Norwegian companies maneuver correctly before they establish themselves in a new country. It is crucial not to get off on the wrong foot,” says Armin Kirchner, who together with Oonagh Hayes are the two partners in the company. Amesto Global also advises companies on the best financial and accounting structure for setting up outside Norway based on their strategy and the stage the company is at, as well as the position they should take. We also ensure that companies work in line with local laws and regulations, and we assist in building scalable models, says Kirchner.
MANEUVERING ON THE RIGHT FOOT
"One of the most important tasks we have is to help Norwegian companies maneuver correctly before they establish themselves in a new country. It is crucial not to get off on the wrong foot."
Armin Kirchner, Partner, Amesto Global
Partner, Amesto Global
SITTING ON A GOLD MINE
The sister company Amesto AccountHouse works together with Amesto Global on several of the customers. “Many Norwegian owners are sitting on a gold mine, where the potential for expansion is enormous. At the same time, we notice considerable insecurity. What Norwegian owners and managers need most of all in order to expand is confidence that we know national laws and regulations, and that we know the markets,” says Siri Nilssen, CEO of Amesto AccountHouse. Nilssen points out that the fear many entrepreneurs have of establishing themselves abroad means that many miss out on major financial gains. - Too many Norwegian companies do not dare to take the risk of going global. Instead, they choose to sell their company to international players too early, and thus misses out on the long-term profit realization,” she says.
CAN GO IN A FLASH
In addition to advising companies early in the establishment phase, Amesto Global also takes care of the practical implementation and handling of tax and duties, HR, accounting and payroll, setup of operations across countries, as well as advice on regulatory requirements in the various countries and government reporting. It may seem like it is very complicated for Norwegian companies to establish themselves abroad, but it does not have to be. However, you have to be aware that you can run the risk of being caught out if you don’t do the right things,” says Siri Nilssen. Amesto Global is now in full swing recruiting new employees in both Europe and the USA. At the same time, the company is establishing strategic partner agreements with similar companies and cooperation with venture and private equity companies in Scandinavia.
TAKING TOO LITTLE RISK
"Too many Norwegian companies do not dare to take the risk of going global."
Siri Nilssen, CEO, Amesto AccountHouse
CEO, Amesto AccountHouse
Original article written by Bjørn Henning Grandal in Norwegian for the Finansavisen financial newspaper.