The popularity of British businesses is so strong because we have a long established reputation of creating successful businesses in this country. We are entrepreneurs who, even when our economy fell on hard times, showed a bit of good old British backbone and powered through. Its this tenacity that is so appealing to the global market, and has helped to pull Britain out of the recession. British businesses are triumphing in the international market because we are viewed as creating not only successful but also sustainable businesses.
Businesses hoping to expand into the international market should never forget the value they bring as a British company. Success doesnt happen overnight, but with determination and persistence you can grow your business into a market leader. Its wonderful to be a part of brand Britain , and as you develop your company never forget this tenacity that makes British businesses revered around the world.
British brands should first analyse the global market. Heading straight for the most popular global cities may not be the right move for your company and can be harmful if you if havent clearly defined your approach to suit that particular market. Your success in Britain won’t automatically be translated to a foreign market; you need to research the best approach and the legal logistics of that country. A better tactic may be starting closer to home, to use a testing ground before expanding further afield.
Organisations should also adapt and localise their approach in order to meet the needs/demands of that region, rather than replicating one model to fit all. Demonstrating that you understand the market will give you a much greater chance for success. Marketing also needs to be in place before venturing out, otherwise not only do you risk your number of sales, you also risk damaging your reputation before youve even begun.
Ensure that communication is clear and in the countrys language; theres nothing more off-putting than a foreign business setting up and expecting the local market to adapt to their language. It may be obvious, but if you want your business to be a success overseas, then make sure that your audience can understand you.
Confidence in the UK has turned a corner, Britain is now the sixth largest economy in the world and it’s due to the collective global expansion of British businesses. Our success in having the ability to tailor and market the British brand effectively is the reason why British brands are revered in the global market. Made in Britain has global resonance, business who are looking to expand into new territories need to understand how best to utilise this.
Paul Statham is MD and founder of Condeco.