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11 simple steps to international expansion

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11 simple steps to international expansion

When your product or service is great and you have more or less conquered the local market, the next step for growth is to look at overseas expansion.

For many, the thought of opening a trading entity in a different country or relocating some of their employees may seem a daunting and laborious prospect, and the largest barrier to this growth opportunity is not knowing what to do.

Here is a handy little list of areas you will probably need to consider that will hopefully give you more confidence to take your first step on what could be a very exciting and rewarding journey.

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Financial services company relocating in the UK? It's not all about London.

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Financial services company relocating in the UK? It's not all about London.

Relocating to the UK? No, UK investment is not all about London. While London may arguably be the largest and oldest financial services centre in the modern world, many financial services businesses are choosing to locate their business in other regions of the UK.

These regions within the UK have developed, and continue to expand, their own large-scale capacity to provide such services. But does everyone know about this?

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7 ways to engage more effectively with international buyers

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7 ways to engage more effectively with international buyers

Building relationships is essential to international sales, and an awareness of cultural considerations is hugely important when relocating overseas or selling your products and services into international markets.

What may be acceptable in the UK could deemed as inappropriate, insensitive or even offensive in other cultures, and a little understanding of the culture you are selling into goes a long way.

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Thinking of international growth? 4 tips for getting exports right

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Thinking of international growth? 4 tips for getting exports right

Often with exporting, it’s the first step which proves the greatest hurdle. Unlike many other countries, UK businesses can be apathetic towards exporting. A recent YouGov poll revealed that well over half the sample of British businesses traded solely within the UK, 90 percent of those respondents have no ambition of pushing their produce overseas.

Exporting can be a daunting task, but for UK manufacturers there is a realm of opportunity in international trade expansion. Here are some tips for would-be manufacturing exporters.

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5 tips for efficiently managing a global supply chain

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5 tips for efficiently managing a global supply chain

In the face of competition and economic pressures, global supply chains are under more and more pressure to deliver their products at a greater value, on-time and at a lower cost.

But if one link in the supply chain is broken, (for example, a delayed payment or late shipment), the consequences to your business can be problematic.

So what can you do to better manage this process and reduce the downstream strain on your business?

Here are 5 tips for managing your global supply chain:

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Major trends in international business

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Major trends in international business

As the economy grows slowly at home, your business may have to look at selling internationally to remain profitable.

Before examining foreign markets, you have to be aware of the major trends in international business so you can take advantage of those that might favour your company. International markets are evolving rapidly, and you can take advantage of the changing environment to create a niche for your company. Consider the 7 areas below:

10 reasons why exporting is great

10 reasons why exporting is great

Any company, before committing its resources to venture in the export business, must carefully assess the advantages and disadvantages of exporting into a new market.

While some companies enter the export business unintentionally after receiving an order to purchase from a foreign buyer that found their product, others make a deliberate move and conduct thorough research before entering a new market. Reasons for your company to consider exporting are quite compelling.

Overcoming challenges of exporting

Overcoming challenges of exporting

Exporting may be a challenge, but the potential rewards are huge.

Below are some of the most commonly cited hurdles to doing business internationally, and some advice on how to overcome them.

1. Resource costs

Entering an overseas market may require both financial investment and an increase in manpower. Time-scales can also be an issue, with short-term ‘pay back’ not necessarily guaranteed.

6 essential tips for doing business internationally

6 essential tips for doing business internationally

Most businesses today, especially those in the digital field, try to take advantage of how small the world has become thanks to technology and the internet.

This could mean relocating employees or hiring overseas, serving clients abroad, and/or partnering with companies anywhere in the world.

Here are six great tips that will serve you well when doing business internationally:

Tips for selling your product into new markets

Tips for selling your product into new markets

After developing a line of products and figuring out how to manufacture them, you need to turn your attention to how you are going to sell them.

Too many manufacturers look at the selling of their product as a secondary goal. They put their heart and soul into their product that they deeply believe in and expect it to sell itself. Well-entrenched competitors develop systems to keep out new entrants. Typically, you might have to find a wholesaler who might use a distributor to get the product into retail.