Scaling your business to an international level can seem daunting but can be incredibly rewarding. Not only can it increase sales and bring innovative ideas, but it can also boost competitiveness and motivate your workforce.
But why take this leap? What support is available, especially in this post-Brexit climate? At Scayl HQ, we've been exploring these questions.
In addition to the advantages mentioned, there are specific benefits to consider. Scaling internationally can help reduce the impact of seasonal fluctuations in your local market. For instance, a tea merchant with an increased brand awareness might see increased sales in colder weather instead of full time. But by going global, you can tailor your offerings to regions with different climates and weather patterns.
Only 1 in 10 UK businesses export their goods globally. This might be due to risks like increasing costs or trade barriers such as language and culture. However, the benefits outweigh the risks.
With only 10% of UK businesses selling globally, the market is less saturated. The USA, being the top export location, offers a great starting point due to its lack of language barriers and large population.
At Scayl, 50-70% of our sales are international, with customers from Kuwait, Finland, Ireland, and France this week alone.
Before diving into exports, consider whether your business is ready for such a commitment. Preparation is key. You might need to upskill your team or even hire new members. Consider partnering with a reliable courier or logistics company to handle shipping logistics.
Working with international representatives or distributors can also be beneficial. They can build strong client relationships, break language barriers, and assist with shipping logistics.
Market research is crucial into marketing segmentation, relevant content and forming a business plan. Third-party consultancy firms can help with this process and ease some of the pressure.
Funding is available in certain locations. For example, in Yorkshire, small businesses with under 250 employees can get match-funded grants of up to £9000 for market research or trade fair visits.
News:
Scaling your business to an international level involves various considerations, from local market research to business infrastructure. Here are some key factors:
- Market Research: Understand the market trends and preferences of your target audience.
- Scaling Your Business: Ensure your business infrastructure can handle the expansion.
- The Export Process: Navigate the complexities of exporting goods globally.
- Export Location: Choose suitable international markets for your products or services.
- Breaking Down Language Barriers: Address language differences to effectively communicate with international customers.
- The International Stage: Prepare your business for the challenges and opportunities of the global market.
What can we do? We offer a consultancy service here at Scayl, tapping into our large bank of resources to tailor market research, marketing plans and branding as well as so many other aspects that are vital when planning to scale your business.
Something of benefit for yourself? Click here to begin the process.