June 25th, 2010 by jrec
The last few years have seen a buoyant global economy slump to perilous lows and then recover some. There has been very posiitive change in the USA with the election of Barack Obama, and the end of the rather belligerent Bush-Blair era in world politics. There have been changes in leadership across the globe, from the election of David Cameron here in the UK to the tragic death of Polish President Lech Kaczynski, the replacement in the last couple of days of Australia’s Kevin Rudd by his deputy Julia Gillard in advance of an imminent general election there, and the accession of Goodluck Jonathan as President of Nigeria.
However, the world was in turmoil well before all of these political changes and it is hoped that a period of political calm can prevail so that businesses the world over can look forward to a slow but sure return to a sensible level of prosperity.
Posted in World Politics | No Comments »
April 13th, 2010 by jrec
…is something of a myth. Like most developed countries there are pockets of affluence across the UK regions, into Scotland, Wales and Northern Ireland. However, the current downturn has impacted on businesses and consumers alike and has restricted opportunities for imported goods. There were fragile signs of recovery during the first quarter of 2010, so this could be a good time to do your research and assess whether the timing might be right later in the year to present new products and services.
Most UK industry sectors are dominated by a few major companies, often multi-nationals. While they are always interested in new product ideas, it is important to remember that they receive thousands of them every month. There is little or no point in trying to approach any of the major companies without first having all of your marketing material in place, and at least meeting required standards and regulations. Exportaid can help with that process.
Posted in Marketing | No Comments »
April 6th, 2010 by jrec
As the Prime Minister of the United Kingdom makes his way to Buckingham Palace today to begin the process that will end in a General Election on 6th May, one wonders what affect the decision will have on international business. The global economic crisis that we have all endured since mid-2008 has caused many businesses to change the way they do things, if they have not closed down altogether. None of us is certain how much longer the crisis will last and there remains a great deal of uncertainty in the air.
Most elections help to draw a line in the sand but while they may bring to an end some of the incertainties of the preceding months, there still remains the question of how a new administration will perform. This affects public sector contracts and their chain of supply. Some public sector contracts that may have stalled prior to the election may now be revived, where others may be shelved. Months if not years of work may have been expended by private firms in securing these contracts, and the few months following an election can determine their international business performance over a period of years.
Posted in Politics and Business | 1 Comment »
March 24th, 2010 by jrec
What you want and what your customers want are often very different things. Many small businesses spend time in developing new products and services without devoting sufficient attention to researching their target markets. There are a number of high profile cases such as the Vauxhall/Opel car company being unable to make an impact in Spain with their ‘Nova’ model, because ‘no va’ loosely translated into Spanish implies that the car ‘don’t go’. There are many other such examples.
If you are developing new ideas, new products, or new services and you know which markets you want to target, then it is very important to set aside some resource for researching whether or not your offer is compatible with the needs of your potential customers in that market. Take a look at what your competitiors do and always assume that you are going to meet stiff competition, either directly or generically.
Posted in Marketing | No Comments »
March 12th, 2010 by jrec
…can be a real challenge in these troubled economic times. Standards and certification exist to assure the quality of what we buy so they are important to achieve, surpass and uphold. The achievement of quality standards can be a justification for charging a price premium against competitors who are not able to meet the same standards. The achievement of standards carries a cost to the supplier that needs to be recouped.
A number of countries are struggling to recover from the global economic crisis, and customers are naturally tightening their belts and either buying or stocking less, or buying cheaper. For many, this is a time for compromise but buying on price alone may result in paying a higher total cost, as sub-standard products need to be repaired or replaced. On the other hand, suppliers need to re-emphasise the benefits that differentiate their product or service, while at the same time finding innovative ways to make their offers more competitive.
Posted in Ethics and Standards | No Comments »
February 22nd, 2010 by jrec
Instant money comes at a very high price. Exportaid is not affiliated with any company who provides easy loans because they are generally offered at a high cost to our customers. We recommend that you first take the advice of a currency specialist from your own bank. They will be able to talk you through the various options that may be open to you.
Getting paid for international transactions sometimes takes longer than anticipated, so first you need to plan payment delay into your cash flow forecasts, and second you need to talk to your bank about the bridging facilities that they may offer. For example, there are circumstances in which for a fee you can negotiate early payment from your bank for a Letter of Credit. So talk to them.
Posted in Getting Paid | No Comments »
February 4th, 2010 by jrec
It is ten or eleven years since the real value of a personal meeting was highlighted. At the time, we worked in an Export sales capacity in which we were supported by a first rate Customer Services team. It was policy always to introduce our overseas visitors throughout the company, but specifically to those who were most likely to interact regularly with customers.
We were visited by two guys from Malaysia who were well-known to our Customer Services team, but mainly because of the difficulty in communicating with them over the telephone. The Malaysian guys’ English was excellent, but the metering of their speech was unfamiliar to our team. So during their short visit we went out for a meal together with the Customer Services team, and from that day onwards there was no further communication problem. It appears that being able to visualise a face as you speak is essential in understanding the nuances of expression in speech.
Posted in Communication | No Comments »
January 21st, 2010 by jrec
In entering any new market with new products and services, you will need to ensure that they meet or exceed international, national, regional and sometimes local standards and certification. Okay, you may find that a single standard or certificate may cover all bases, but that is not always the case.
The achievement of a standard and production of the relevant certification, will inevitably help to increase your competitiveness. Standards and certificates provide confidence to your customers, especially so when products are completely new to a market. Relevant standards should be identified as part of your initial market research. There are generally cost implications in achieving a standard, and you therefore need to include this in your marklet entry budgeting.
For international buyers, it is wise always to check the authenticity of any certificate that is presented. Exportaid has seen some spectacular forgeries, from company registration certificates, ISO certificates, to certificates for technical standards. So if unsure, it is good practise to check with the issuing authority.
Posted in Ethics and Standards | 1 Comment »
November 3rd, 2009 by jrec
Our own experience shows we have had more bad payers from our domestic market than from overseas. Thankfully the numbers are very small, but the message is a powerful one. While it is natural for people to trust what is pshycologically close and mistrust what is pshycologically distant, there are as many dangers close to home as there are elsewhere in the world.
There are many tools available to help companies minimise the risk of exposure in international markets. Match the terms of payment you offer to suit the perceived degree of risk in dealing with clients, new and old. These can be amended according to performance, as we did many years ago with a Turkish client. Our terms started with advance payment only, but as the relationship developed we were able to offer more flexible terms in order to generate and expand business opportunities. There are notable exceptions, but as a general rule, if your Insurers are not happy with a business risk, then neither should you be!
Posted in Getting Paid | No Comments »
October 29th, 2009 by jrec
…is what makes the world go round. It really doesn’t matter whether your client is in the next town or half way across the world, direct communication is the key to building, maintaining, and developing a good business rapport. It has now become almost impossible to be out of contact because telecommunications are so much more accessible than at any other time in our history.
This is incredibly positive news for business development, because it means that events happen quicker, and answers can be delivered often in seconds or minutes rather than days or weeks. Our ExportAnswer service is entirely free to use, and even for this free service we will answer your international trade questions within one working day, so long as you have registered with us.
Posted in Communication | No Comments »
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