Also in the news...
Northern Ireland firm expands into new markets after new partnership between UKEF and Ulster Bank
UKEF’s support helping Maxflow gain access to capital through its General Export Facility (GEF) will see the business expand into new export markets.
New global growth team
A new ‘global growth team’ of UK Trade Envoys has today been appointed by the Trade Secretary to drive UK exports and investment.
New 'global growth team' appointed by Trade Secretary
A new ‘global growth team’ of UK Trade Envoys has today been appointed by the Trade Secretary to drive UK exports and investment.
UK Trade Minister visited South Africa and Botswana to strengthen trade ties
This was the first visit to Africa by UK Minister for Trade Policy Douglas Alexander, which forms part of the UK Government’s wider resetting of partnerships with Africa, which the Foreign Secretary set out in November during his visits to Nigeria and South Africa.
Former Amazon boss named interim chair of CMA
Doug Gurr will lead the CMA on its mission to support growth for the UK
Starting up overseas? Where do you start?
When considering starting up a business overseas it is essential to research your market. There is no substitute for visiting the country and getting first hand experience on the ground, however this can be prohibitively expensive. Especially when considering a number of different countries for your start-up.
Desk research can cover a lot of what you’ll need to find out. The Internet, local libraries, trade associations and directories, newspaper supplements and trade journals are all valuable sources of information.
If your product is new to the market?, are there suppliers in your selected country for the equipment and services you will need?, are they local to where you will setup?. Contacting these suppliers before you visit will give you a valuable insight into the business sector in your country of choice.
An online resource such as Kompass will give you access to relevant International business information. The database has information on over 4 million companies in over 70 countries and is searchable by over 58,000 business headings.
Once you have established your business overseas you will also need to let the market know you are there. Kompass can also provide you with a comprehensive database of sales leads. Our online list builder easily allows you to target potential customers, view and download their information for your sales and marketing activity to ensure your product is promoted to businesses or consumers with a potential keen interest in the surrounding area.
If you are considering starting up overseas your first contact should be Kompass UK and we can give you a demonstration on how our database can assist you, to save you time and money.
Call us today on 0800 0185 882 or visit www.kompassinfo.co.uk for more information.