Finding the right people for your expansion goes a step beyond making sure your target region has the right talent market. Finding the right support team is equally important when you’re looking at your potential target regions for expansion.
In this blog, we go over which professional services matter most when entering a new market, why local expertise helps you move faster, how to build your advisory team before your expansion and tips for choosing trusted service partners.
Who are local experts?
Expanding requires the right network of professionals to help you establish a strong foundation. Your target community should have a variety of experienced service providers are ready to support businesses making the move. Here are the key partners you should connect with:
- Talent Recruiters: Securing top talent is essential to growth. Local recruiters understand the regional talent pool and can help you find candidates with the technical skills and cultural fit to accelerate your success. They’re familiar with both government hiring programs and post-secondary co-op programs that can make recruiting skilled talent easy.
- Legal Teams: Navigating business law, contracts and compliance requirements is critical in a new jurisdiction. Legal professionals ensure your expansion is smooth, minimizing risks while helping you establish operations with confidence.
- Real Estate Agents: From office space to industrial facilities, real estate experts can guide you to properties that match your business needs, growth plans and budget while also advising on location advantages within the region.
- Tax Experts: A new market often comes with a new tax environment. Local tax specialists can help you understand regulations, maximize available incentives and keep your business financially sound from day one.
By tapping into these professional services, you can ensure your expansion will go smoothly.
The power of local expertise
Local expertise is one of the most valuable assets you can leverage during expansion. Professionals who know the region understand the market dynamics and industry networks that can make or break your success.
The local advantage makes your expansion move faster. The people you’re working with know the steps to expand to your target region as they’ve helped many other companies do that exact thing. This means the entire expansion process can move like a well-oiled machine and get your ideal expansion finished quicker. A local team will also make sure your expansion complies with all the local regulations, meaning there will be no surprises during your expansion.
How to build your advisory team
When you’re moving to a new place, you need to meet new people. This idea applies to business too. In your new target location, you’ll want to find someone that can connect you with the local experts you need for your expansion. In that sense, you need a local expert in the subject of local experts.
You can get this sort of expertise for free from Waterloo EDC.
Waterloo EDC is government-funded, which means it’s free to help you with your expansion. We’ve helped many companies connect with the local leaders they needed to have a smooth transition. We know the right local leaders that have experience across your industry.
Check out our local experts page.