30 . Glasgow Business November/December 2012
WORLD CLASS
Get the lowdown on how to navigate the murky waters of global trade – where big opportunities could be there for the taking, with expert help
I
INTERNATIONAL BUSINESS EVENTS
Glasgow Chamber of Commerce runs monthly events, aimed at members looking to start or develop their international business. These monthly meetings alternate between the International Trade Forum and “Doing Business In…” seminars. The International Trade
Forum always features an expert guest speaker and doubles as an opportunity to network and collectively work toward agreed group goals. The “Doing Business In…”
seminars focus on a specific international market, outlining the challenges and opportunities for Scottish businesses. For example, the most recent event looked at opportunities around the next Olympic Games and football World Cup in Rio.
FIND OUT MORE...
Dates and topics for upcoming events can be found at
www.glasgowchamber
ofcommerce.com
n the current climate, it’s tricky not to preface any discussion about international expansion with the words “in
the current climate”. Almost five years aſter the start of the banking crisis, corporate strategy is still influenced hugely by the mood of lenders and the uncertain prospects of key international markets. Indeed, if you’re apprehensive
about venturing beyond the UK border, you’re in good company. Research carried out by RBS found that while 74 per cent of businesses are confident in their domestic trade, 52 per cent feel the same way about Europe and North America, while only 32 per cent have confidence in their ability to trade in emerging markets. But such caution is now
balanced by the real and growing sense that there are some great opportunities for smart UK businesses to find abroad the botom-line growth that eludes them at home. So, if you’re beginning to
suspect the time may be right to steal a march on lead-footed competitors, here is our primer on starting your own global empire.
Ready? Set?
It may sound glib, but there’s a lot more to expanding overseas than simply doing the same thing in another country. Any move beyond your domestic market should start with a frank
assessment of your export potential, the practical realities of global business and a realistic appraisal of the kind of help you’ll need along the way.
Choose your markets carefully
It is tempting to simply focus on those markets experiencing the highest overall economic growth. But now is the time to step back, look at your own strengths, weaknesses and objectives and ask which territories present the best opportunity for your business. Visiting potential target
markets and atending trade shows is highly recommended (to the point of being essential). Also, take advantage of the expert advice offered by Glasgow Chamber of Commerce, Scotish Development International, UK Trade and Investment and a host of other bodies which have already done a lot of the research on your behalf.
A way in
Your first foot in a new market is inevitably an important one, so the manner in which you establish yourself takes some planning. Whether selling direct,
online, through an agent, joint venture or licensee, it is a good idea to seek advice from an impartial source with first-hand experience of the target market. For example, the Overseas Market Introduction Service
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