At the start of any international expansion project it is usual to visit the targeted country or countries to get a better understanding of the market and kickstart the project. But what if you can't do that?
The awards, which celebrate small and medium-sized enterprises, recognise those that provide a personal touch for their customers and thrive in highly competitive markets. Trade Horizons impressed judges with their personal manner, consistency of their reviews and overall attentiveness to clients. It is their second award in recent months, after being named Best UK Market Entry Execution Specialist by the Small Business Awards in February.
The latest India Meets Britain Tracker, produced by Grant Thornton UK LLP and the Confederation of Indian Industry, gives a fantastic snapshot of the fastest-growing Indian companies in the UK. According to the report, 62 companies achieved an annual growth rate of 10% or more this year.
I spent an interesting day yesterday seeing both sides of the market entry challenge, from two differing perspectives. My morning was spent with a Bengal delegation of technology companies, at an event arranged by the East India Department for International Trade (DIT). As always there was interest and concern over the UK Visa requirements and we got an update from the DIT on impending changes to the UK visa system.
Trade Horizons has been named Best UK Market Entry Execution Specialist, as part of the 2018 Small Business Awards. Now in their third year, the Small Business Awards run by Corporate Vision Magazine recognise the outstanding achievements, dedication and hard work of those teams and individuals running small businesses today.
We work with SME companies from across the world, who are looking to expand into the UK. The first question we always ask of any business that contacts us, is do you have a market entry plan? And surprisingly, the answer is often 'no'. Here are the five top issues businesses can hit when they don't have a market entry.
Preparation is essential when expanding to a new market - it will make the difference between success or failure. However, the success of your market entry plan will also be dependent on the right lead person in the new market. Do they possess the right 'soft skills' to execute your plan and develop your business? Three essential 'soft skills' are considered here for selecting the right person to lead your market entry.
With the UK growing faster than any other economy in Europe, and household spending rapidly on the increase, many European manufacturers are eyeing up Britain as a lucrative export market and vital source of sales growth. On top of this, a strengthening Pound (GBP) against the Euro (EUR) means that products being exported from the Eurozone into the UK are becoming considerably cheaper than their US and UK competitors. So how do you establish a robust and attractive pricing strategy for your products in the UK? Here are our top 5 tips.
When expanding your business internationally and moving into a new country or territory for the first time, it is vital to consider whether your brand translates well into the new market. Cultural differences, a symbol, colour or strapline that works well in your home country may have very different meanings in another and may even cause a market entry fail. Using well known brands as examples we consider 10 key factors that caused problems because some aspect of their brand did not translate.
In the world of International Market Expansion a lot of market entry initiatives fail due to execution of the strategy, or even due to the lack of a strategy in the first place. We've outlined five common mistakes that cause companies to give up completely, retreat, require more money than planned, or need more investment of resources to make it work.