Helping New Ventures Succeed
Country Screening, Country Entry and In Country Initial Operations
Planning on entering a new market in a higher risk or less developed country? Not sure about the operational risks of investing in a particular emerging market? Don’t have the resources or experience to assess or manage the risk?
Whether you are opening a new office, a new distribution hub, acquiring an existing asset or breaking new ground, your business case relies on managing not just direct financial opportunities and risks, but also indirect financial opportunities and risks caused by HSSSEQ1 matters.
Global Risk Management offers Country Screening, Country Entry and In Country Initial Operations services as a one stop shop to help you quantify all of your HSSSEQ opportunities and risks together. Done correctly, we can help you turn these risks into opportunities.
We’ve seen companies lose huge amounts of money by bringing their world, their approaches, and their values to a new market. Understanding only the commercial business aspects of a market is often not enough.
Feel free to contact us to let us share our experience in ways to help you understand and manage the regulatory, environmental and social environments you want to operate in.
When entering a new market, a typical HSEQ approach will often not be enough to manage your HSEQ entry risks. By using the term HSSSEQ in this project phase, it helps to keep minds focussed on the two S’s which can easily cause you significant trouble while entering a new market or country – Security and Social.
Global Risk Management can offer you a complete package that addresses the intertwined issues related to market entry HSSSEQ.
Your initial business case looks positive, but before you fully commit to your new venture, are you sure you fully understand the Risks and Costs relating to:
- The security of your people and assets?
- The local HSE regulatory environment: Is there a difference between the regulatory requirements on paper and in practice?
- The social issues in the market/community: Have you accurately assessed the socio-economic issues in your community that can influence your project? Is there an indigenous group in your project area and do you fully understand their history, values, culture and any rights awarded to them under local and international laws/treaties?
- Financing with environmental, social and governance (ESG) requirements: Will you finance your project with any money that is subject to International Finance Corporation Standards (IFC), Equator Principles, Global Reporting Initiative (GRI) or similar environmental, social and governance (ESG) standards required by your lending institution? Do you have certainty you can comply with these requirements?
Global Risk Management can help you assess and answer ‘yes’ to these types of questions, before you commit to a new project.
You’ve decided to enter a new market, the business case stacks up, and the risks are manageable. What next? Do you have an in-house experience or resources to actually manage those risks as you grow your business?
Bringing in some outside support while you set up your new venture can make sense while you recruit expertise and local staff. Global Risk Management offers you the following services to help your new venture go as smooth as possible, many of which can’t wait until you develop a competent team in your new venture:
- Develop a Country Entry Project Plan
- What needs to happen, when, trigger points, resource requirements and stage gate reviews.
- Develop a robust security concept that meets your corporate values as well as UN and other global pact minimum standards relating to human rights
- Develop a safe travel, working and living policy for your expats and travellers who will be ‘in country’ with your new venture
- Provide a temporary security manager
- Screen, recruit and then train local security providers to meet your expected standards
- Develop hibernation and evacuation plans for both security and non-security emergency incidents
- Provide a temporary HSSSEQ Manager
- Support you develop a local HSSSEQ Management System to meet corporate, local, and lending institute requirements.
- Conduct Environmental Impact Assessments (EIA) and Environmental Baseline Studies
- Conduct Social Impact Assessments (SIA)
- Permit Applications
- Emergency & Crisis Management (go to Emergency & Crisis Management)
- Develop an Emergency Management Concept and Systems to blend best practice with your corporate and local requirements.
- Support Emergency Management training and exercises
In Country Initial Operations
Now you’re in country and operating to a country entry project plan, what next? Are you following your country entry plan? Does the country entry plan need updating?
Global Risk Management offers you the following services to help your new venture continue to go as smooth as possible:
- Good Social Governance through Local Recruitment – we believe in supporting you getting local people employed in leadership roles as soon as possible, especially into key HSSSEQ roles. By having locals in key HSSSEQ roles, you have greater chances of local buy in of your company within the community. This is a key concept to genuine good social governance. We specialise in supporting local staff fill in gaps, they have when it comes to understanding and meeting international good practice
- Project HSSSEQ reviews and GAP analysis
- Internal Management System Audits
- Ongoing supply and supervision of Security and HSSSEQ managers/staff, or support and training for your new leaders and team members.
See our Page Mergers & Acquisitions – HSEQ Due Diligence with similar topics including Indigenous and Vulnerable Community Cultural Training for M&A and Country Entry staff.
Social Risks are often not very well understood when entering a new market and sometimes not even very well understood in existing markets. Being able to engage the right support to engage with the right people in your community in a meaningful way, can make the world of difference to your success.
Social covers the labour market, unions, impacted communities, vulnerable communities, and indigenous communities. Some of these groups may not necessarily be impacted by your project but have official and unofficial claims to resources or rights in your community.
We have worked with companies whose heart was in the right place and did what they thought was right thing in relation to vulnerable and indigenous communities. Unfortunately, quick sponsorship programmes, community donations etc, that are often used to generate good corporate ‘news’, can make it harder in the long term for your success.
We’ve also seen experienced companies bring an approach which is ‘normal’ for dealing with their ‘home country’ vulnerable and indigenous communities, without understanding the lay of the land in their new market. Millions of dollars wasted because they brought a cookie cutter approach to social issues.
Feel free to have a chat with the Global Risk Management team about how we can train your staff and support your company develop meaningful long-term positive relationships and benefits in your new community.
Let’s build something a new sand castle together.
“Relationships are based on four principles:
— Mahatma Gandhi