Also in the news...
We work in an ever smaller world. The rise of global supply chains means that, whether your new business is involved in retail or manufacturing, the chances are your regular shipments and deliveries will involve products or parts from a number of different countries and probably continents.
Foreign investment projects create highest number of new UK jobs since 2001 Commonwealth Games Business Conference in Glasgow starts this week (22 July 2014)
Latest information for UK exporters on the impact of Russia’s recent intervention in Ukraine and annexation of Crimea on business
The UK government is keeping our economic engagement with Russia under close review. Some bilateral cooperation and trade support activity is being affected
The details of international business are growing more complex by the day--and even the most seasoned professionals can find themselves in need of guidance.
A Little Planning Goes A Long Way
A better understanding of local customs and standards is a good starting point for business overseas, coupled with a winning idea.
ZOE ANDREWS reporting on why you can never be too prepared.
Planning to relocate overseas may seem like a stressful ordeal, and amongst all the other things which need to be done: booking flights, finding somewhere to live and packing, doing research may be the last thing on your mind.
However, a little research about the culture you're moving to could be the difference between your new business being a success or a functional flop. Face facts business is driven by culture, meaning that an understanding of the local culture leads to an understanding of the ways in which business works in that country.
People work in different ways in different cultures, so it would be unwise to assume anything about a new country especially that they are the same as you. This may not be the case! A better understanding of local customs and standards is a good starting point for business overseas, coupled with a winning idea. This is likely to improve your business relationships with suppliers and distributors, for example. Your business will deliver better results if you can stick to the customs and traditions which the local culture operates under.
The best way to learn about culture is to experience it. Immerse yourself in the local way of life, don't be afraid to try new things and be open to new ideas. It just might help you in your business!