Doing business in the UK with a PEO / Employer of Record
The United Kingdom can be a highly appealing country for expanding businesses. As one of the world’s most globalized economies, it ranks 5th worldwide in total goods imported, and 10th in total exported. The lack of language barriers, the standard of living, and other factors can also add layers of appeal for companies. At the same time, the reality of Brexit-motivated hiring freezes, as well as other possible staffing issues for start-ups in England, Wales, Scotland, and Northern Ireland are possible barriers.
The United Kingdom still has a powerful allure for new overseas companies, Brexit or not. Sectors such as Aerospace (2nd in the world), Financial Services (2nd globally), and Pharmaceuticals (10th worldwide) are all stalwarts of the UK economy, and are ripe for new business introductions.
For any new business, losing valuable time to sourcing locations and employees, interviewing and onboarding new hires, and obtaining all the necessary permits and visa approvals can mean failure before even officially opening. One solution can expedite marketplace entry and even continue to support ownership after you’re successfully launched: PEO services. A partnership with a UK Employer of Record is a different approach that outsources just what businesses need in the human resources area – allowing the owners to focus on overall progress and profits.
We’ll list and explore the top-ranked PEO/EOR services for the United Kingdom below.
Why partner with a PEO/EOR in the United Kingdom?
Working with a UK PEO allows overseas businesses to eliminate a huge number of barriers and headaches. As they serve as the UK Employer of Record, they can handle hiring, payroll, taxes, benefits, and more, while the actual company operation and direction is left to the company’s owners.
Best UK PEOs and Employer of Record
1. New Horizons Global Partners
New Horizons has been assisting its customers with tailored, locally-based solutions since 2009. NHGP is an SEO/EOR service that brings in local experts for a whole suite of human resources help: recruitment, interviewing, hiring, and payroll administration.
New Horizons promises to help reduce the risk involved in overseas startups. Using their services can help new businesses gain a toehold in a competitive UK market while postponing the necessity of legal entity setup. Their client base is broad, and their growth in new countries is laid on a strong foundation of local knowledge.
2. Velocity Global
Velocity Global has a presence in many countries: over 180 at last check. Their worldwide network is headquartered in the United States. The 6-year old company consolidates several services that they offer under a single monthly invoice.
In the United Kingdom, Velocity has capabilities for hiring, onboarding, and continued partnership with their clients. Their solutions are highlighted in their regular blog entries, where they cover issues such as the impact of Brexit on EU work visas. A particular emphasis on tech, particularly fintech business may or may not provide the localized experience an overseas business requires.
3. Globalization Partners
Globalization Partners has a robust worldwide network that covers 170+ companies. They market themselves as a platform-based solution for business expansion. Their UK capabilities include onboarding of workers, a multi-layered payroll system for your employees, and responsibility for the necessary tax filings.
What GP doesn’t take on for their United Kingdom clients are recruitment activities or other assistance that benefits from local expertise. For new businesses that need help on the ground in the UK, one of the PEO/EOR companies that can assist with turnkey office openings may be preferred.
Request a UK PEO Proposal
If your company is interested in expanding your business operations into the United Kingdom, GlobalizationPedia can connect you with a PEO that best fits your needs at a cost-effective price. Fill out the form below and we’ll leverage our extensive database of strategic partnerships to provide you with a full rundown of the best potential PEO matches for your company.