Massive business opportunities are increasingly being missed as a result of reluctance by Midlands firms to convey with potential customers in almost any language except English.
As the economy starts to strengthen, businesses are better placed to seek new business abroad, especially in new, emerging markets. But many are failing to do so, seemingly put off by the language barrier.
So suppose that barrier was removed? Wouldn’t a chance to converse with foreign customers in their language hugely increase the odds of winning business with these?
As a traditionally insular nation having a historical reluctance to speak other languages, it’s usually inevitable that this language barrier gets concerning so many opportunities.
So, although there are potential opportunities in markets like Russia for sure engineering components – not to mention a thirst for UK skills and know-how – the text barrier may be the initial thing to put people off.
It’s not only the different language that puts people off but also the unfamiliar cultures available in prime emerging markets like Chile, Brazil or Malaysia. It’s perhaps the case with countries closer to the West including Turkey or Poland, where we ought to perhaps have a better understanding.
Talking to business leaders across a variety of networking events we have met many individuals from firms who will be willing to expand but neglect to consider foreign contracts as a result of language difficulties.
Add to this particular, deficiency of knowledge many business leaders have concerning emerging markets, remodel which will the reluctance to place a toe in the water is understandable.
However, a good amount of guidance is available through agencies including UK Trade & Investment (UKTI or perhaps the Midlands World Trade Forum. Each has experienced advisors, affordable market reports and real individuals to talk to with extensive experience with …