Thinking creatively gives you an advantage. This is why companies internationally search for talent in other continents and countries. Instead of waiting for people and wasting time, companies are looking for ways to use nearshoring to help them grow.
With the rapid development of technologies and transportations, the world is changing every day. This creates offshore outsourcing – where companies send IT-related work throughout the world. Soon enough, cultural difference, management, emerging time zones, causing problems and interfering with the business. Fortunately, there is a good solution to the problem; nearshoring outsourcing.
This guide will show which countries are good for entrepreneurs attempting to nearshore their businesses. That being said, let’s get started!
What countries are great for nearshoring
Due to the increase of European outsourcing locations means that UK firms have multiple options to pick from if they’re planning to use nearshore IT services. Here are the best countries that you should look into if you’re going to develop your company.
In Eastern Europe, Poland has the second largest economy and gives more important advantages in comparison to their neighbors. Ramyani Basu, lead of the Digital Transformation Practice in UK’s A.T. Kearny states
“Poland gives good tax incentives and has a more stable economic situation,” she says “Cultural affinity with the United Kingdom makes the country an interesting destination. Poland enjoys foreign investment based on development, business process, and research outsourcing.”
However, Poland faces competition from some emerging companies within the region. For example, Bulgaria has become an option for high-level activities like computer-aided manufacturing and design.
Bulgaria’s education system gives a multitude of technical and engineering skills; this makes it an interesting place to search for very specific programming skills, design, and technology.
Romania is another good area to start your nearshore development company. The labor costs are lower than neighboring countries, and it doesn’t show any gaps in service quality either. “Romania is an upcoming leader in the market,” Basu states. “It has government support for nearshoring services which includes tax incentives for IT.
Hungary and the Czech Republic are additional options that are viewed as low risk within the region. Also, Ukraine offered a multitude of IT specialists and improved their business conditions, even though the country’s economic and political instability constitute to an issue in the development of the market.
Also, Spain is attempting to receive the most of their financial markets situation and place themselves as a inexpensive nearshoring geography. Also, Ireland has a lot of IT infrastructure and qualified workers. While their costs may be high, you can rest assured that your company will gain productive employees when doing so.
When creating a nearshore development company, you have to pick the right location. This allows you to have workers who can help complete your project at a reasonable time and price. We suggest that you do this so your company can receive long-term progress and benefits.
Disclaimer: Use nearshoring at your own risk. The information on this article was made for educational purposes only.
Futures Markets Highly Vulnerable to Weather Extremes
Cotton futures were lower as Hurricane Nicholas threatened to bring some big rains to Cotton production areas in the Delta...
Augmented Reality (AR) And Virtual Reality (VR) Stocks to Keep On Your Radar
Everyone knows that Augmented Reality (AR) and Virtual Reality (VR) will be a huge deal in the coming years. What...
Switcho Raises €2M of Equity on Mamacrowd: Lead Investor Eltif ALIcrowd
Switcho has closed its equity crowdfunding campaign on Mamacrowd, which started at the beginning of August, raising just under $2.35...
Credit Crisis Brewing in China
But should the Dow Jones break down in a big way next week, that would be a signal that the...
A Look at a Bull/Bear Sentiment Indicator
Inflation and climate change are two of the key issues in the current Canadian election (Monday Sep 20). We look...