| There’s no denying it, times are tough globally, | | | | Likewise, China at 26%, Singapore at 22%, Taiwan |
| with the exception of a few fast moving consumer | | | | at 17%, Euro at 22%, USA at 18% and so on. |
| goods (fmcg) companies, most are feeling the pinch. | | | | Another reason to consider going global is scale of |
| So when posed with any suggestions about | | | | economies associated with volume sales. We are a |
| expanding these are considered by many managers | | | | relatively small population of 61 Million so we have a |
| as taboo. But why? | | | | smallish market to saturate, whereas Japan is twice |
| As the saying goes ‘every problem is an | | | | our size and China is huge at 1,33 billion with many |
| opportunity’ so it’s time for management to | | | | more countries populous overshadowing us. |
| take advantage of the current economic climate and | | | | However, breaking out of the UK can have its’ |
| shrink down the areas of their businesses that are | | | | pitfalls as well as being very lucrative. If your plan is |
| under-performing and take a long hard look at | | | | to expand into Asia then careful research will need to |
| improving their cash position. This is not just to | | | | be done on which Asian markets may best suit your |
| target manpower but take close scrutiny of the | | | | offerings, what changes you will need to make to |
| product and services portfolio, get rid of the dross | | | | your product or service and what challenges you will |
| and focus on the winners. | | | | face. Fortunately, there is a lot of help available with |
| Once the balance sheet is in good shape and is | | | | regard to export services and international trade |
| sustainable then it’s time to review the market | | | | services to guide you in the right direction but be |
| strategy and consider areas for expansion. There | | | | careful with your budget. Don’t go overboard by |
| couldn’t be a better time than right now to | | | | initially recruiting expensive international managers or |
| consider international expansion as Sterling has | | | | setting up offices overseas, rather bring in some |
| dropped against many foreign currencies over the | | | | experts who have done this many times before to |
| last 2 years making our UK offerings so much more | | | | help and advise you through the set-up stages, take |
| competitive and really attractive to import. For | | | | a look at Expand Internationally you may be surprised |
| instance the £ is now worth about 157 Japanese | | | | at the help available! |
| Yen versus 248 (that’s a massive 37% cheaper | | | | By being strategic you can shrink and expand at the |
| our offerings are today compared with 2 years ago). | | | | same time ! |