In recent years, business has changed dramatically. Technology and its increased role in commerce have made deadlines shorter, production faster, and audiences international. Global trading is no longer the reserve of multi-millionaire enterprises alone; anyone can give it a go.
For SMEs, this has been revolutionary. The opportunities open to you and your business are greater than ever before, and the sky really is your limit. If you want to expand your vision, you need only tap into the global connections that the internet and your online presence afford you.
But trading overseas still poses some problems. To help you surmount them, here are a few bits of advice that you might find handy…
Make Your Business Accessible
One of the greatest barriers between you and your international audience will be language, but if you don’t speak multiple tongues, this shortcoming needn’t stand in your way. There is a multitude of translation software available to help you, some of it free of charge. This may not create the most polished end effect, but it can be a good starting point for opening trade channels between you and a global client base. You’ll also find that many freelance translators are available for hire, all of them capable of creating online web content to a high standard. These will be able to provide you with a far more sophisticated end result, and can do wonders for attracting an overseas audience.
Make Transactions Easy
Language is one barrier that stands between you and your foreign clientele, but pricing your goods or services in one currency alone can also be off-putting. Most people want their shopping and business transactions to be as straightforward and stress-free as possible, and if they have to carry out their own conversions, they might choose to transact with another company over yours. This is easily remedied. There is plenty of software available online to provide automatic conversions, all of which can be installed on your website without requiring any particularly advanced technological skills.
Pay Your Suppliers in their Local Currency
One further issue is currency conversion rates. The amounts you send to overseas suppliers and employees will be eaten into by the commission charged by banks and other financial institutions, and this means that one or the other of you will usually have to suffer the shortcoming. Thankfully, an easy solution presents itself. Companies like Ebury work by taking care of overseas payments on your behalf, paying beneficiaries directly in their local currency, thus solving the issue.
Choose a Reliable Courier
Finally, think about finding yourself a reliable courier service. When you conduct business with foreign peers, clients, or customers, you may find that chattel needs to be moved between you, and those that you transact with will expect a quick and reliable service. This means choosing a delivery company with absolute care. Those that specialise in international business are often particularly efficient, but the best way to narrow down your options is by looking at independent and unbiased reviews online, to see which companies offer the greatest economy, punctuality, and overall package.
Follow these four top tips today, and your business should find expansion a breeze.