Marc Jarrett

Marc Jarrett

Thursday, 9 April 2020

How Coronavirus Has Destroyed ‘In Person’ Events And Invigorated 𝑽𝑰𝑹𝑻𝑼𝑨𝑳 Ones…

It started with the cancelation of the massive Mobile World Congress in Barcelona.

Behemoths Facebook & Microsoft soon followed suit and also shelved plans to host their signature conferences and joined a growing group of multinationals in calling off corporate events and grounding employees from travel as a result of the outbreak. The list of cancelled events then grew exponentially.

COVID19 has truly decimated the $840 billion MICE (Meetings, Incentives, Conferences and Events) Industry.

However, as Napoleon Hill once pointed out, “Every adversity, every failure, every heartache carries with it the seed of an equal or greater benefit.”

Wikipedia describes Business Networking as a socioeconomic business activity by which business-people and entrepreneurs meet to form business relationships and to recognize, create, or act upon business opportunities share information and seek potential partners for ventures.

Since the need to meet clients, prospects and partners is a requisite for any given business, new ways of doing so need to be found.

One beneficiary of recent developments is the fledgling Virtual Events industry, which allows users to connect with their audiences in the most interactive way online whereby technology facilitates the connections that matter the most – human ones.

The same technology is also being used to being brings remote teams together - all the benefits of a physical workspace, combined with all the freedom of remote work.

The coronavirus outbreak is not the only reason why working and networking this way is on the uprise – all of us are becoming aware that climate change is also very real and that by not travelling to events we are collectively reducing our collective carbon footprints. The environment is one of the few net beneficiaries of our collective lock down.

The Company leading the way in this space are Remo.co who have developed a platform which allows users to work and network virtually, globally.

Over and above Networking Events, Remo can be used for ad-hoc Meetups, Conferences, Trade Fairs and Events, Hybrid Events, Webinars, Company Events, Broadcast to Event, Online Courses, Summits/Forums, Workshops, as well as Expo & Exhibitions.

If anyone is interested in becoming a virtual event agency and run virtual events for your clients, you can sign up as a Remo affiliate here. You will be paid 35% recurring commission for each referred customer as well as a 5% override commission from any other affiliates you refer. You can take Remo for a test-drive for free for 14 days. I will help you set-up and execute your first event. Your workers/clients/attendees will LOVE it!

Given the unprecedented situation we all collectively now find ourselves in, it's important that we channel our energies into an industry that has a future.

Post Coronavirus, virtual events and remote networking will most certainly be one of them.



Saturday, 19 October 2019

How Global PEO/EOR Helps Companies Expand Internationally




A professional employer organization (PEO) - more commonly refered to as an Employer of Record (OR) in Europe - is an  is an outsourcing firm which provides services to small and medium sized businesses and enters into a contractual co-employment agreement with its clientele. The PEO becomes the employer of record for tax purposes through filing payroll taxes under its own tax identification numbers.

The PEO industry began in the late 1960’s in the United States, where each state has differing regulations for workers' compensation insurance and state unemployment insurance. The USA is the only country to formally recognize the PEO industry in statute.

Fast forward half a century and a new disruptive variant of PEO was born. Global PEO makes it much easier and quicker for companies to expand internationally since it eliminates the need to them to establish a legal entity in the country is which they would like to hire talent. 

I know from my own experience how slow and painful this process can be. Last year, I was asked by a US Movie Financing Company to establish a UK Company and Bank Account in the UK where I am located. The Company was itself was established within an hour, but it took many months to open the Bank account. 

By engaging in the services of a Global PEO, companies are able to legally employ international workers in days, not months. The Global PEO assumes responsibility for payroll, tax, immigration, and employment compliance in the host country, greatly reducing the risk, cost and workload for their clients.

Furthermore, the General Data Protection Regulation (GDPR), which came into effect this May, carries steep penalties for companies not in compliance. An effective way a company can take proactive measures to minimize the risks associated with GDPR when hiring global workforces in EU is by engaging in the services of a Global PEO - As the Employer of Record, the PEO are authorized to collect remote employees’ personal information and assume responsibility for GDPR compliance in this critical area.

Since Global PEO helps companies expand internationally without establishing subsidiaries overseas, their services are particularly useful for Private Equity firms who help them grow their portfolio globally, helping them find a home for newly acquired employees in countries where the buyer does not have a legal entity. The time and effort in setting up entities for countries with only a handful of employees, can be disproportionate to the size of the deal.

The remit of finance professionals involved in international expansion is to make sure they keep the costs associated with positioning personnel around the globe at a minimum. The hourly costs of local lawyers and other in-country partners can escalate quickly. Global PEO helps keep costs manageable and predictable. 

Over and above helping companies capture market share relatively quickly in new overseas markets, Global PEO allows them to test before they invest. If the market is no good, they can fail fast and fail relatively cheaply: the cost of closing overseas operations can often exceed the expense incurred of creating them in the first place. 

In his bestselling book ‘The World is flat’, Thomas Friedman describes the interconnected world in which we now live as a level playing field in terms of commerce, where all competitors have an equal opportunity. His book refers to the perceptual shift required for countries, companies, and individuals to remain competitive in a global market where historical and geographical divisions are becoming increasingly irrelevant.

This metaphor is particularly apt in the relatively new world of Global PEO.  

Monday, 17 September 2018

Acquisition Opportunity - Full Service Structural Steel Engineering Firm (West Coast, USA)


Business Description: The Company is a full service structural steel detailing firm and provides structural steel shop detail drawings to steel fabricators across the country.  It focuses primarily on 3D Structural Steel Modeling & Building Information Modeling (BIM) for Mechanical, Electrical, Plumbing (MEP) Coordination on significant commercial projects.  The Company relies on its vast knowledge of Structural Steel Frames e.g. it started in the industry when steel detail drawings were created entirely by hand. The Company’s professionals utilize the latest technology to help deliver projects on time/on budget.
       
Market Place: The Company enjoys a distinct cost competitive advantage re: partial utilization of international engineers’ services and the ability to move projects along on a 24/7 basis.  Structural Steel Detailing is a must-have service for the construction efficiency and integral quality of major commercial buildings and structures, both nationally and worldwide.  The Company’s knowledge base combined with its strong long-term use of cutting edge technology makes it unique in the steel design and detailing business. 

Operational Strengths: Every project is backed with a strong management team who works real-time with clientele to keep projects flowing smoothly, Fast-Tracked, and cost effective.  Each project team has a Project Manager with a minimum of 10 years of experience (including steel design and detailing, fabrication shop, and field experience), and a Project Coordinator with a minimum of 5 years of Tekla Structures experience.

The Transaction: The Owner wishes to retire and sell the firm. The Company’s professional team wishes to continue and expand the business. 
Financial Summary

2017
2016
2015
Revenue
$2.2M
$1.9M
$2.6M
Adjusted EBITDA
$917K
$635K
$1,019K


Location
Financials
Management Team in Place
Years in Business
SIC #
West Coast
Internal
Yes
35
8711

Thursday, 23 November 2017

Game Changer? Game Changer!


I have honored to be bestowed as a Game Changer by theintroducermagazine.com and look forward to working with fellow game changers and both new and existing partners globally.

Game Changer





Friday, 6 October 2017

Deal or No Deal? The suspense is killing me – and my clients


I quite used to enjoy occasionally watching Deal or No Deal on television.  Being a risk taker myself, it appealed to the gambler in me.  A gambler who spent far too much time of his misprint youth playing fruit machines.  Way back then, the stake was 5p and the jackpot was £2.  Now the former can be up to £100 a spin.

The Gambling Act 2005 acted as the catalyst and ushered in a new era which not only allowed online gambling, but also the promoting thereof.  Nightclubs became Casinos.  Some high streets now have two William Hill’s so that they can operate eight fixed odd’s betting terminals (FOBT’s) in that area, and not just four.  These after often referred to as the crack cocaine of gambling, which is why I am delighted that my propensity to play such machines has receded.

Against this explosion of both on and offline gambling, a plethora of TV franchises were devised to appeal to the gambler within most of us, with 'Who wants to be a Millionaire?' and 'Deal or no Deal' being just two examples.

During this period, I was helping US eCommerce companies reach out to and better serve their European customers by encouraging them to hold inventory in a Glasgow warehouse.  It was an easy sell – given the global architecture of the World Wide Web, they already had European customers.  The ease of doing business, same language, and one-time zone nearer to Uncle Sam than our European neighbours, and of course open access to some 500 million European consumers. Business was booming.

Then came 23 June 2016. 

Understandably, my clients wanted to know what implications Brexit would have for them.  At first, I focussed on the only tangible positive – the fact that they were now getting significantly more pounds for their buck, thanks to the relegation of sterling to one of the world’s worst-performing currencies.

However, knowing that tariffs for sending a sound blanket from Scotland to Italy might soon become a reality, I found it increasingly difficult to sell a destination I no longer believed in.   After all, if I were a US Businessman or woman selling tangibles looking to expand into Europe, would l want to locate my business in a country that has elected to remove itself from the world’s largest trading bloc? No. In short, the UK is no longer such an attractive destination for overseas companies who have historically seen it as a gateway to Europe.  On the contrary, it is arguably 28th on the list.  A sizeable client had Glasgow and Amsterdam on his short-list for a new warehouse.  The Netherlands won.

Being half German, I decided to turn my attention to helping UK (&US) SME’s remain not only inside the single market but to base themselves inside Europe’s beating heart.  Doing so will give them a distinct advantage over their competitors, who are simply retreating behind the drawbridge and waiting to see what happens next. 

And the stakes could hardly be higher.  The top prize of £250,000 offered in TV’s ‘Deal or No Deal’ fades into insignificance when compared to the economic well-being of an entire country.  Given the slow progress of talks, it is looking increasingly likely that we could be heading for a hard, or ‘cliff edge’, Brexit.  A countdown clock on my website informs me that at the time of writing we have 539 days left.

The best-case scenario would be no change in the status quo – frictionless trade with the remaining 27 members of our largest export market.

 The worst-case scenario does not bear worth thinking about: additional costs, bureaucracy, and disruption to the supply chain.  The Dover port boss has already warned that the south east of England could come grinding to a halt if no deal can be agreed.

So, let’s hope for all our sakes that common sense will prevail and that a deal that suits us all can be reached.  The UK is, after all, Germany’s largest export market for all those wonderful motor cars.

But given that common sense has been sorely lacking in British Politics as of late, I’m not holding my breath and am prepared more any eventuality – Deal or No Deal.  

How Wales’ Businesses can Beat Brexit (and of course English & Scottish ones too)

(Published in https://businessnewswales.com/wales-businesses-can-beat-brexit/)

The uncertainty surrounding Britain’s exit from the EU has created a major headache for businesses in Wales.
The countdown to Brexit is underway, but we still don’t know the terms of any trade deal with the 27 members of the EU. It’s difficult for businesses to plan for the future when they don’t know if they’ll be hit by tariffs.
So, an increasing number of UK companies are looking to create European subsidiaries to ensure they have a foothold in the EU whatever the outcome of Brexit negotiations.
For many, the obvious choice for a European base is Germany – the powerhouse economy of the EU.
British/German dual national Marc Jarrett, Managing Director of Emjay Consultancy Ltd, has historically focused on helping US firms expand into the UK.
Now, his company is focusing on helping both US and UK businesses establish themselves in Europe’s largest market, Germany.
“Of course, establishing a subsidiary overseas is nothing new,” he said.
“However, with the countdown clock ticking and the terms of any deal with the EU27 still unknown, an increasing number of UK companies are proactively pursuing this option as a form of hedge or insurance policy.
“This way, they can continue to trade freely within the EU without worrying about the ‘unknown unknowns’ that Brexit has created.
“Brexit came as a shock to most Germans. Many are Anglophiles at heart and would welcome the opportunity to continue working with British companies that elected not to leave the European Union after all.
“Germany has a business-friendly tax and legal system and its central location within Europe makes it the natural choice for British companies looking to establish a subsidiary or branch office on the continental mainland.”
MARC JARRETT’S GUIDE TO FORMING A GERMAN SUBSIDIARY
The most common legal company form is to establish a GmbH (Gesellschaft mit beschränkter Haftung) which is German for “company with limited liability”.  The owners (Gesellschafter, also known as members) are not personally liable for the company’s debts. This is similar to a limited company in the UK.
A GmbH is formed in three stages:
  1. The founding association, which is regarded as a private partnership with full liability of the founding partners/members.
  2. The founded company (often styled as “GmbH I.G.”, with “I.G.” standing for in Gründung – literally “in the founding stages”, with the meaning of “registration pending”).
  3. The fully registered GmbH. Only the registration of the company in the Commercial Register (Handelsregister) provides the GmbH with its full legal status.
What do you Need?
Under German law, the GmbH must have a minimum founding capital, €12,500 of which must be raised before registering in the commercial register.
The company is run only by the managing directors (Geschäftsführer) who have an unrestricted proxy for the company and must be either a national of a European Union country or have a German work permit.
Shareholders, on the other hand, can be any UK entity, be it a person or a UK Limited company.
Other factors to bear in mind when establishing a presence in Germany include securing a business address, launching a German language website (local law dictates this must include an ‘impressum’ which outlines company details), appointing a good tax consultant, and hiring at least one German-speaking representative who can help during the formation period and possibly beyond.
Unlike in the UK, joining the local chambers of commerce is mandatory. However, doing so will allow members to grow their business contacts.
Social network XING is their LinkedIn, which is another useful way to engage with prospective customers or partners.
Emjay Consultancy Ltd helps with all the necessary aspects of establishing a presence in Germany including company formation, opening bank accounts, real and virtual offices, sourcing of staff, translation of website and marketing collateral into German.  It has access to a network of professionals on the ground in Germany that can help with all aspects.
“We look forward to helping UK companies so that they can continue to do business in the epicentre of the world’s largest trading bloc and give them the edge over their competitors.  We will be at their side to help them every step of the way,” Marc Jarrett said.