6 Keys to Expanding Your UK Business Into International Territory

When you have a business that is doing quite well locally, many times the next successive step is to expand into foreign lands. International expansion will require you to adjust the way you operate, at least in international markets. Your UK based business may be subject to international taxes and expenses, as well as different laws, rules, and fees. Here are the six most crucial things you need to have prepared before you can expand into any international territories.

1. Have a Budget for International Expansion Set

Before you opened your company in the UK, you had to have a rough idea of how much your start-up expenses would be. After all, no business plan or even business loan application is acceptable unless you have both a budget as well as a list of projected expenses. You must also calculate the expenses you will have related to expanding your company internationally. Estimate what it will cost to rent or purchase commercial real estate and business-related equipment internationally, as well as how much it will cost to acquire international employees.

2. Learning How International Markets Compare and Contrast to Local Consumer Groups

Selling to your target consumer groups might be easy when you’re comfortable at home, but when you take your show on the international road, you likely won’t know just what to expect. Products and services that are considered perfectly ordinary in the UK might be problematic in, for example, the United Arab Emirates, until some serious modifications are made. On the other hand, product varieties such as liquorice scented soap might be considered a hit in the UK and beyond. Learn about consumer demands and expectations in each individual international market to really have a good idea of how to go on.

3. Launch an International Marketing Campaign

Your company won’t be ready to have its international grand opening until you have had the chance to create interest. Via channels such as radio-based advertisements, the internet, and even street teams, you can inform international consumers about your company’s planned arrival. Get potential customers excited about choosing their country for the location of your next business expansion. Consider offering them discounts for becoming one of your company’s first loyal customers in each new market you go into with a great market strategy.

4. Fully Translated Website and Promotional Materials

In order to land consumers in international markets, they need access to the same materials your company offers shoppers locally. From instruction manuals and customer service contact information, to FAQ pages and shopping carts, translated versions of all company materials should be located on your website. Use professional website translation services to create foreign language versions of all your UK business’s company materials. Enable potential consumers to read all available information on your company in their native language so that they can be properly informed during expansion.

5. Prepare Your International Supply-Chain  

Whatever your company offers, are you fully prepared to do so in another part of the world? Sweaters and socks knitted in the UK would need to be shipped overseas if you are to service United States based shoppers. If your company already imports its products from China, India, or Nigeria, would you be able to setup a warehouse in Brazil, if that is where your next expansion will be? Figure out what the logistics of selling products and services abroad are for your business. There will be many figures and partners your company will have to deal with, but it is best to do the groundwork now rather than being unprepared in the future.

6. Don’t be Afraid to Alter Operations or Pause Your International Business Expansion

So, you have developed an impeccably detailed plan to expand your UK business into a market in a nearby country, but you learned a major national holiday will be taking place there. This would be a good time for you to pause your international business expansion plans, just so you can learn more and readjust properly. Remember, this is a new foray and you shouldn’t fault yourself for being cautious. Rather than risk upsetting an entire group of international customers, your business expansion plans should be paused or changed as needed.

Take a business trip to the country you want to expand into to learn about the culture and customers there. Making friends with international business owners also can’t help, as they will know all about the local supply-chain. You will want to see how people in other countries respond to advertising and marketing. Lastly, see that your products and services translate succinctly in all international markets.