Exporting abroad enables your business to grow, perform more strongly financially and to reach new markets that would not otherwise be possible. According to recent UKTI (UK Trade and Investment) surveys, 85% of UKTI trade clients said that exporting had led to a “level of growth not otherwise possible”, while 87% said that exporting had significantly improved their profile or credibility. Entering overseas markets can be refreshing for your business, enabling you to explore new ideas and lead your company into new areas.
Using a professional translation company is of paramount importance when you’re looking to take your business abroad. Not only will you need your marketing material and website translated or localised for your new target audience, but it is likely that you will need a certain amount of legal and financial documentation translated into your target language to comply with legal and regulatory requirements in your chosen country and to proceed with setting up your business abroad.
Remember, according to the “Can’t Read, Won’t Buy” Common Sense Advisory survey, 56.2% of consumers feel that having information in their language is more important than a low price, while 85.3% feel that having pre-purchase information in their own language is a critical factor when purchasing insurance and other financial services. Most importantly, over half of respondents (52.4%) only buy at websites with information presented in their language. When considering your exporting strategy, you must consider your translation requirements.
Let us know how we can help you – language shouldn’t be a barrier
Here are some helpful hints but each customer is different and will need to discuss their linguistic needs. As official language geeks we know what we are talking about and we will help you to succeed.
- Things to consider before exporting:
Companies that are successful in exporting abroad are usually those that are well established at home.
Many of our customers have never used a language services provider before, and we understand how complicated it can all seem to the uninitiated! We offer you all the help and advice you could possibly need and will be there to guide you every step of the way. From compiling translation glossaries to sourcing a local interpreter who is convenient for you, you can rest assured that you will always receive the highest standards of service. We adhere to often very tight budgets but NEVER compromise on quality.
- Are you operating your own vehicles or using a carrier?
You can use a freight forwarder, who has a detailed knowledge of the regulations that your business must comply with. They will know about customs in your country of choice, and see to documentation and packaging.
- Learn about the regulatory requirements, trade restrictions and customs laws of your chosen target markets.
- Does packaging need to be modified in order to meet local regulations and standards?
- Are there stricter health and safety regulations?
- Are there restrictions on how and when you can advertise your products?
- What legal issues are there for exporters?
- Contact UK Trade and Investment, HM Revenue & Customs and the UK Embassy of your destination country to clarify customs requirements.
- What will your distribution method for your products or services be â€“ air, sea, rail or road? What regulations will influence your choice of transport channel?
- Determine what paperwork and documentation needs to be translated in order to set up your business abroad. E.g.:
- Export licence (depending on product)
- Contract between buyer and seller
- Customs documents
- Documents insuring transported goods during the journey
- Documents relating to payment
- Build relationships with local partners, this can be done in three ways:
- Indirect business with clients via agent
- Indirect business with client via non-exclusive distributor
- Indirect business with client via sole-representative
- What goods do you need to distribute? Is it essential that they arrive quickly, do they need to be refrigerated?
There are certain goods that have additional regulatory requirements such as animals and dangerous goods.
- You should choose your local partner based on:
- Their knowledge of the sector
- Their relationships with prospective end-user clients
- Their language skills
- Their market coverage
- Come up with a sales channel
For example, will you go through an export agent or overseas distributor, B2B, branch office, joint venture or subsidiary company? How will you manage your overseas sales presence?
- Export agents act on your behalf by introducing you to overseas customers, and charge a commission.
- Overseas distributors buy your goods from you and then sell them on abroad.
- Joint venture â€“ when two companies join together to share the costs of exporting and develop export strategies that might not be feasible for individual exporters.
- Subsidiary company â€“ this is a separate legal entity to the parent corporation, although it is owned by it, and taxation is on the subsidiary’s income alone.
- Branch office this is owned by the parent corporation but the parent corporation is legally liable for it.
- Your Free, Bespoke Consultation!
- Re-design any relevant packaging, marketing materials and advertising
- Have your marketing materials, advertising and brochures translated or localised for the target market
- Use transcreation experts to adapt your communications and cultural references to fit the country you have chosen to export to
- Come up with an international marketing strategy that acknowledges international trade development
- Get in touch and speak to a linguist today
Contact us today today to speak to one of our expert Project Managers. Whether you have a particular project in mind, are unsure of what you need or are all at sea with the world of translation, we have worked with many translation agencies before and have a complete understanding of our industry. We’re happy to guide you step by step through your project or just give you a bit of guidance. Whatever your situation, we are excited to work together with you and for you.