Trading our way out of recession

Olga D'Silva, Zen Languages, Maidstone
Olga D'Silva, Zen Languages, Maidstone

by Olga D'Silva, Zen Languages, Maidstone

Now the New Year is behind us, many Kent businesses should take a look at building international markets as part of strategic business planning now the economy is emerging from the credit crunch.

The favourable sterling rate for overseas currencies, particularly Euroland, is also attractive.

At the launch of Kent 2020, Lord Digby Jones said that we must "trade our way out of the economic downturn" and as Kent businesses, not only must we look to strengthen our UK markets but also I believe we can generate long- lasting wealth through international trading.

For some companies, markets may already be established; others may be looking to new foreign markets.

The majority of Kent businesses are sole traders and SMEs (small and medium sized enterprises) and with the right level of preparation and professional help, they can determine the viability of their product or service internationally.

We can see how to harness the rail, sea and air infrastructure to and from Europe and beyond. That's the easy part; the harder part is the journey to establish the right business relationships to succeed internationally and for that businesses need to have a checklist for international trade.

Reviewing your marketing communications, for example, will help to articulate the message you need to adapt for foreign markets. Reviewing many aspects of your international business planning and execution will also have a positive impact for UK markets.

  • Taking another aspect of the checklist, my business helps companies with effective foreign language and cultural communication, giving confidence in translation, interpreting, foreign language training and cultural communication.
    There are many business initiatives to help, for example:
    UKTI South East (UK Trade & Investment)
  • Enterprise Europe Network (EEN)
  • Chambers of Commerce (Export Documentation)
  • Project TEN (Transmanche Enterprise Network) helping SMEs in Medway and Canterbury to stimulate cross border trade with northern France and western Belgium.

However, understanding what help is available is not easy to unravel. The Institute of Directors is launching an International Business Forum which I shall be chairing. It is being held at the University of Kent's Medway Campus on Wednesday, March 24.

The format is a 90-minute bi-monthly working lunch intended as an open discussion for those already trading overseas, some looking for new foreign markets and others looking to take their first steps.

There's no doubt that business readiness for international markets will strengthen business readiness for domestic markets.

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