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We had a fantastic time at our Coffee Morning, ‘Entering the UK market: How? When? What? A legal perspective?” with Henry Humphreys, Managing Partner at Humphreys Law (London) and Kati Pino, and our Senior Associate here at Hedman. We were delighted to host Henry Humphreys during his first-ever visit to Estonia.
Henry explained how to enter the UK market, including steps that should be taken when setting up a company in the UK, different ways of doing so and the benefits of each option. Next, he discussed what factors to consider when entering a foreign market such as the UK, whether to incorporate a company, establish a subsidiary, or follow some other route. Then, the fintech giant Wise (ex Transferwise) was brought up as a success story.
Kati spoke about how to grow a business internationally by scaling up and launching into new markets (especially if going from Estonia to the UK). She emphasised the importance of understanding the local base before launching an international expansion and having a clear strategy before entering any new market, not just the UK. Along with Henry, Kati provided some helpful tips on avoiding common mistakes when entering a new market.
See you next time
The attendees were the cherry on the cake with the interesting questions they asked, which allowed our panellists to explore the theme topic in even more depth. We are glad you could join us, and thank you for being so active. We hope to see you at the next Hedman Coffee Morning!
Takeaways from the session
- Setting up a business or establishing subsidiaries and branches is not as tricky as expected, and the processes are pretty straightforward.
- Regarding entry opportunities, not much has changed between the pre-Brexit period and now.
- While the UK market might seem challenging to enter, it is not if approached strategically.
- Active networking is an excellent way to get a headstart before and upon market entry.
- Given the size of the UK compared to Estonia, market competition upon entering the UK might be quite hard.
- Due to the current economic situation, it might be more challenging for companies to raise funds than in previous times. However, as always, good companies with innovative and actual solutions will always find investors.
- How stock options can be granted and exercised differs significantly in the UK and Estonia.