Global Growth: Why Your Company Should Consider Bangladesh

Author: Shibli zaman | October 3, 2024

Introduction

This report provides a comprehensive analysis of the benefits for companies from the USA, Canada, UK, EU, Japan, Australia, and the Middle East in expanding their global growth by establishing branch offices or hiring remote teams in Bangladesh. With the country’s favorable economic outlook, our services are designed to support companies in achieving sustainable global growth, including:

• Establishing a branch office in Bangladesh for direct operations.
• Recruiting employees/teams to work remotely from Bangladesh.
• Recruiting employees/teams through third-party contracts.

The report demonstrates significant cost savings through salary differences, outlines the costs of setting up an office in Bangladesh, and highlights additional benefits. These factors make Bangladesh a strategic choice for companies looking to tap into global growth opportunities or invest in a global growth fund to strengthen their business expansion.

Key Benefits of Establishing a Branch Office in Bangladesh

1. Substantial Cost Savings: Establishing a branch office in Bangladesh can offer significant financial advantages. The country provides a competitive edge in terms of salary costs, particularly for skilled professionals. This makes it an attractive option for organizations—whether a dance company, livery company, or any group seeking to optimize its marketing efforts. The salaries for key positions in Bangladesh are a fraction of what companies typically pay in regions like the United States, Canada, the UK, the EU, Japan, Australia, and the Middle East.
2. Access to a Skilled Workforce: Bangladesh has a rapidly expanding pool of educated professionals in fields such as finance, IT, project management, and human resources. This workforce is not only cost-effective but also highly qualified. Companies can easily find the right man for the job and meet compliance requirements related to company law while benefiting from a substantial reduction in labor costs.
3. Strategic Geographic Location: Bangladesh’s geographical location offers a favorable time zone overlap with Europe, the Middle East, and Australia. This is particularly advantageous for companies engaged in targeted advertising or international operations that require constant connectivity with clients and users. Moreover, it acts as a gateway to the burgeoning markets in South and Southeast Asia, making it easier to reach new users and expand business horizons.
4. Improved Infrastructure: The country is making rapid strides in enhancing its IT and business infrastructure, making it a viable hub for outsourcing. With the development of IT parks, improved internet access, and robust telecommunications, Bangladesh is setting the stage for businesses seeking strategic change. This infrastructural growth supports companies in establishing a stable foundation for their operations, whether they are looking to answer immediate business needs or develop long-term strategies. Establishing a branch office in Bangladesh can be a transformative move for any organization looking to streamline operations, expand into new markets, or optimize marketing efforts.

Cost Savings: Salary Differences for Key Positions

The following table compares the average annual salary in USD for ten key positions across several countries, including Bangladesh. The figures are in USD:

Position	USA	Canada	UK	EU	Japan	Australia	Middle East	Bangladesh
Senior Financial Analyst	$120,000	$90,000	$85,000	$78,000	$82,000	$100,000	$75,000	$10,000
Finance Manager	$120,00	$95,000	$90,000	$80,000	$85,000	$100,000	$75,000	$15,000
HR Manager	$100,000	$80,000	$75,000	$70,000	$72,000	$85,000	$65,000	$15,000
Project Manager	$95,000	$80,000	$75,000	$70,000	$73,000	$85,000	$68,000	$15,000
Account Assistant	$50,000	$45,000	$40,000	$35,000	$38,000	$50,000	$30,000	$5,000
Customer Care Representative	$50,000	$45,000	$40,000	$35,000	$38,000	$50,000	$35,000	$5,000
Software Engineer	$110,000	$85,000	$75,000	$65,000	$70,000	$80,000	$60,000	$15,000
France Team Lead	$85,000	$75,000	$70,000	$65,000	$70,000	$75,000	$60,000	$10,000
Senior Accountant	$80,000	$65,000	$60,000	$55,000	$58,000	$70,000	$50,000	$8,000
Data Analyst	$85,000	$70,000	$60,000	$55,000	$58,000	$65,000	$50,000	$8,000

 

Cost Savings Analysis

By employing teams in Bangladesh, companies can achieve significant cost reductions. Below is a breakdown of potential savings for maintaining teams of 25, 50, and 100 employees in Bangladesh compared to other countries:

Country	Total Cost for 25 Employees	Total Cost for 50 Employees	Total Cost for 100 Employees	Saving for 25 Employees	Saving for 50 Employees	Saving for 100 Employees
USA	$2,257,500	$4,515,000	$9,030,000	$1,828,750	$3,657,500	$7,315,000
Canada	$1,848,750	$3,697,500	$7,395,000	$1,419,250	$2.838.500	$5.677.000
UK	$1,675.000	$3,350,000	$6.700.000	$1,245,500	$2.491,000	$4.982.000
EU	$1.523.750	$3,047.500	$6.095.000	$1,094,000	$2.188.000	$4.376.000
Japan	$1,590,000	$3,180,000	$6,360,000	$1,160,000	$2.320.000	$4,640.000
Australia	$1,806,250	$3,612,500	$7.225.000	$1.377.250	$2,754,500	$5.509.000
Middle East	$1,460.000	$2.920.000	$5.840.000	$1,030,000	$2.060.000	$4.120.000
Bangladesh	$428.750	$857,500	$1.715.000	–	–	–

 

This table clearly illustrates the potential savings by employing teams in Bangladesh. Companies can save up to 80% on labor costs compared to hiring in their home countries..

Cost of Establishing a Branch Office in Bangladesh

Establishing a branch office in Bangladesh is highly affordable. The initial setup costs for an office with ten workstations are outlined below. Additionally, monthly operational costs will include:

• Monthly Rent: $1,000 for office space.
• Utilities and Internet: $300.
• Employee Salaries: Based on positions as shown in the salary table.

This makes Bangladesh’s setup and operational costs highly competitive compared to most developed economies.

Additional Benefits of Hiring Employees in Bangladesh

1. Direct Hiring for Growth Fund Companies: By directly hiring employees, companies managing a growth fund can build a dedicated team fully aligned with their business objectives. This approach is particularly advantageous for businesses in the United States and other emerging markets, where companies can benefit from significant savings in salary costs (up to 80% in some cases). Direct hiring offers a cost-effective solution that enhances productivity growth by allowing companies to maintain better control over operations, processes, and team culture.
2. Third-Party Contracting for Large Cap Growth: For large cap growth companies or those seeking flexibility in staffing, we offer third-party contract-based employment. This model reduces administrative overhead and legal liabilities while providing quick access to skilled professionals. It allows companies, including those supported by institutions like the World Bank, to scale their teams rapidly and adjust to market conditions without the need for establishing a full branch. This solution is ideal for navigating the complexities of staffing in both developed and emerging markets.
3. Cultural Fit and Communication: Bangladesh is a prime destination for businesses looking to expand in emerging markets, thanks to its strong English-speaking workforce. Especially relevant for growth fund companies, the local talent pool is adaptable and integrates seamlessly into global operations. Our recruitment services ensure that candidates not only meet technical qualifications but also align with the company culture, improving overall productivity growth.
4. Risk Mitigation for Global Companies: Partnering with us helps companies mitigate the risks of entering a new market. We manage all legal, tax, and compliance issues, ensuring smooth operations. Whether your company is involved in a large cap growth fund or backed by the World Bank, we provide ongoing management support for both remote teams and third-party contracts, ensuring accountability, high productivity, and quality service delivery.

Conclusion

Expanding your business by establishing a branch office or hiring remote teams in Bangladesh offers a strategic opportunity to lower operational costs while accessing a highly skilled and adaptable workforce. With savings of up to 80% on labor costs, competitive setup expenses, and the advantage of Bangladesh’s growing economy, your company can thrive in a market primed for economic growth. By taking advantage of capital growth opportunities and investing in this region, you can ensure a steady path toward success, while keeping inflation and global market shifts in mind.

At the same time, it’s important to manage shareholders’ interests and ensure that the personal information of consumers, including personally identifiable information (PII) of individuals, is securely handled. Whether you are an insurance company seeking regulatory compliance or a business managing fund facts for growth, partnering with us offers peace of mind. We ensure that all legal aspects, including the protection of directly personal information, are met while helping you scale operations smoothly.

With our expert support in recruitment, legal compliance, and ongoing management, you can focus on building a successful team in Bangladesh. Whether you’re forming an in-house team or considering third-party contracting, we tailor our services to meet your business goals. Expand your business while safeguarding personal information, securing economic growth, and maximizing your investment potential.

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