Grow Through International Expansion

UK companies, faced with the uncertainties of Brexit, are rushing to establish bases in the EU. Germany is a favourite, but it’s not so easy - business methods, finance and laws are all very different and complex. So it’s essential to get clued-up, and to have a guide to make sure that you do everything right and to make the difficult things easy.

In this podcast, Oliver Dowson talks to Burkhard Schneider of Basch Consult about how he helps businesses set up in Germany.

Those of us born in English speaking countries have that great advantage that we can make ourselves understood just about anywhere. The problem is that it also makes us lazy about learning other languages.

In business, we can’t just rely on English. Obviously legal documents have to be in the language of the country we’re working in. So do all our operational materials and of course marketing and sales. We’ve all seen “howler” translations – most obviously on menus in restaurants. At least then all we do is laugh or wonder. Like a lot of business people, the menu writers have probably relied on online translation software – that’s getting better all the time, but it’s a long way from perfect.

Just imagine how one’s business can be damaged by bad translations. And even in conversation, it’s easy to assume that someone with great English understands everything we’re saying – yet most of us have suddenly found that we’ve been misunderstood, or, worse still, unintentionally said something we shouldn’t.

So there’s a very important role for professional translators. In this podcast, Oliver Dowson talks to Helen Provart, the Managing Director of Peak Translations, about the need for getting it right.

Almost every business with international ambitions wants to expand to the United States. It’s easy to understand why. It’s the biggest economy and market on earth. It’s English-speaking, it’s got great people, great communications and since its founding has always been considered as the Land of Opportunity.

But how easy is it? And, with all we hear about the backlash against globalisation epitomised by the “America First” policy, the tariffs and the fear of trade wars, is now the right time for foreign companies to really be considering expanding there?

In this podcast, Oliver Dowson talks with Gary Leskun, the President and COO of Cross Border Advisory Services, about these issues, and how companies can best expand to and from the USA.

Gary has impressive qualifications and a vast range of international business experience. He and his team have helped many companies to identify export markets and recommend market entry strategies for products and services to get the best return on international investments.

Think of Kuwait and one thinks of oil. It’s got the world’s sixth largest oil reserves. But there’s a lot more to it than that. It’s one of the oldest countries in the region, at the top of the Arabian Gulf, bordered by Iraq and Saudi Arabia. But it’s not really like either of them.

In this podcast, Oliver Dowson talks with Hessa Rashed Bouresli, the Head of the Communications Division of the Kuwait Direct Investment Authority, about the opportunities the country has to offer to international companies.

Kuwait, with a population of around 4 million, has a high-income economy – and, indeed, according to the World Bank, the Kuwaiti dinar is the highest valued currency in the world and the country has the fourth highest per capita income. It’s a democracy and it’s liberal – women are empowered and make up more than half the workforce.

It’s even arguably the cultural centre of the Middle East, with arts festivals and even the largest opera house in the region.

But back to business. Kuwait is working to seriously reinvent itself, aiming to transform the country into a financial and commercial leader in the region. It’s making institutional reforms, investing in infrastructure and actively supporting growth of the private sector.

One reason people fear international expansion is bureaucracy. It’s always there. But you shouldn’t be discouraged. International expansion brings so many benefits, worth the effort. You just need to be prepared.

Most countries, and many big cities and regions, have Investment Promotion Agencies (IPA), that promote Foreign Direct Investment (FDI) through advertising and exhibitions. If the target has already decided on the country, and it’s a matter of promoting one region or city, perhaps these help. However, I don’t think this is the right way to get new converts. Here's why...

Many companies believe that the only way their overseas operation can be successful is if they send over an experienced manager as an expat. However, I’m sceptical. Here's why...

I’ve found that many companies only start to understand local employment laws and customs long after they’ve set up an operation and only when they hit problems. However, this is a real danger. I'll tell you why...

So you’ve decided on where to go, when and how to get there. In this second part of planning an exploratory business trip, I’m going to suggest who you need to meet and what you should be looking out for.

Thinking of growing your business in a new country? Nothing beats going out there and exploring. Even if you’ve been to the country or city before, whether on holiday or a business trip, it’s different if you’re thinking of setting up a base there. Here are a few things to bear in mind...

I’m recently back from Ethiopia, not a country often considered for international expansion. But things are changing fast… In the first of an occasional series on interesting but frequently overlooked countries, I’ll tell you more…

I see a lot of pitches from new start up companies from all over the world. Most see international expansion as a future ambition, a few years down the line. But I think that’s short sighted. Let me explain why...

Business terminologies come in and out of fashion, but the fundamentals of success are always the same. These are my 3 enduring fundamentals for ambitious entrepreneurs.

Even quite small companies can save money and improve their efficiency and productivity by setting up an Shared Services Centre or “Insourcing” (wholly-owned Outsourcing) operation abroad. Excellent. Now, where? There are hundreds of possible destinations. Leaving aside the financial, legal and technical matters that everyone thinks about, some other points often don’t get given the consideration that they should.

I believe the most important reason for international expansion is to increase the overall value of the business - but that's not what most SME entrepreneurs have to the top of their minds. Let me explain…