In This Presentation:
I. Introduction – UK Consulting Company History:
1. Established UK company with foreign subsidiaries. Core business is sale of consulting services to E&P companies and proprietary software.
2. Sent UK Director/Shareholder to establish US office in Houston.
3. Prepared extensive market study; conservative budget prior to opening US office.
II. Key Factors to Success:
1. Trips to US to develop business plan.
2. Transfer of UK Director with financial stake in US Company.
3. Identified target market prior to entry and preexisting US clients.
4. Established legal, accounting, banking, and insurance relationships.
5. Developed understanding of US tax consequences for both US Company and UK Director.
6. Development of US legal systems.
7. Developed US tax and accounting systems.
III. Observations, Mistakes And Lessons Learned:
1.Initial market development time greater than anticipated.
2. US Company provided increasing number of leads for worldwide projects.
3. Adverse effects of initial asset acquisition of related, but non-core business....
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