Successfully launching UK operations for a US business
Ring of Security Limited
Ring of Security Limited is the UK subsidiary of Ring Inc., a US-based outdoor home security company.
Ring’s mission is to reduce crime in neighbourhoods and empower consumers by creating a “Ring of Security” around homes and communities with its suite of smart home security products.
Ring needed to get up and running quickly in the UK, and was looking for a strong local accounting and back office business partner. While Ring had resources locally in the UK, they were largely focused on sales and marketing efforts.
To allow the team to continue spending its time building out Ring’s market presence in the UK and beyond, the company looked to Blick Rothenberg to assist in establishing its UK subsidiary, draft the necessary legal and intercompany documents, take on day-to-day operational functions such as expense payments and payroll, ensure tax compliance, as well as provide the parent company with month-end financials.
How did Blick Rothenberg help?
We have assisted Ring in highlighting, and subsequently complying with, the local and international requirements arising from their business model. Blick Rothenberg has also worked to streamline the processes associated with the monthly routine work and deliver work as expected, on time and on a regular basis.
Blick Rothenberg has assisted Ring in applying for a MOSS (Mini One Stop Shop) VAT registration. We have also advised on the VAT treatment of both business to consumer (distance selling) and business to business (reverse charge) transactions across Europe.
As a consequence of both the advice and support received in the UK and our ability to deliver services across 60 territories, Ring has now approached Blick Rothenberg about how we can assist with supporting them in both Australia and New Zealand.
What was the result?
Mel Tang, CFO of Ring of Security, has commented that “Blick Rothenberg’s help and support has been vital in making sure our European launch has been a success, allowing us to focus on building relationships, key multipliers and driving our online sales rather than having to spend unnecessary time worrying about the day-to-day operations of the business.
“They have been able to build relationships with many of our staff at different levels of experience and expertise to provide us with the comfort we need.”
Blick Rothenberg has not only been an accounting support provider but also a business advisor. They have been in regular communication with us as we enter not one but several markets at once. Their experience has been invaluable in making sure we can operate efficiently, move our goods, collect cash and pay suppliers.
Mel Tang, CFO, Ring of Security