By Yusra Sarkar
Expansion plans for tech companies
Technology solutions are developing rapidly. There’s significant opportunity for tech firms who have the solutions that facilitate a world where social distancing and reduced travel looks set to remain the norm for some time to come.
‘When it comes to our corporate clients who offer tech solutions, we don’t see any appetite to curb expansion plans, even in the wake of the pandemic. If anything, these companies are looking to keep to their pre-COVID expansion timeline or even accelerating them by forging ahead and setting up in new jurisdictions to benefit from first mover advantage and increased demand. This could be moving into new jurisdictions, expanding domestically in larger markets or positioning the firm for long-term growth on the international stage,’ says John Hunter, Head of Business Development, ZEDRA Guernsey.
Using digitalisation to bring business agility
For tech firms, there’s big opportunity. ‘Over the past few months, CEO’s and business owners have understood that digitalisation comes at a cost, but essentially adds resilience to a business. In the long term, firms that can’t or won’t invest in technology that supports digitalisation will become redundant or surpassed by their competitors who do choose to modernise. For companies offering technological solutions, there’s plenty of opportunity and demand for our corporate services teams to support these firms to reflects this,’ explains John.
What about traditionally ‘offline’ sectors?
Many firms are open to adopting new technology, and the past few months have seen many company sectors that are traditionally ‘offline’ move to incorporate digital tools and technologies that allow them to work with social distancing and reduced travel. While the process may not have been easy, many companies have successfully adapted and are enjoying the fruits and flexibility of their newfound modernisation.
One such example is auction houses, many of whom have incorporated high-tech digital viewing and bidding for auction items. Earlier in August, for example, a 1966 Ferrari 275 GTB was sold for $3.08 million – without the buyer ever having seen the car.
It’s here that we can see another trend: the integration of ‘digitalisation’ with products and services that support a new way of working, purchasing and living that’s often more virtual and ‘hands-off’ than ever before.
‘In cases like the auction, you can view, bid and purchase a collectable item wherever you are in the world. That’s very exciting, but equally, that means you’ve just paid exceptional money for a luxury item you’ve never actually seen. That means that you need services like escrow in the mix to protect you – and the vendor – from the risk associated with buying in this way. A buyer will still need other services, like looking after the car, storage, insurance and so on. We can support private clients with the management of these features through our private office and active wealth areas of our business ’ says John.
For more information, please contact John Hunter, Head of Business Development, ZEDRA Guernsey.