Scientific surveys have shown that a significant number of businesses of all types have developed globalization plans as part of their growth strategies. The preferred path tends to revolve around acquisitions, integration and the gradual use of knowledge on foreign markets and operations to strengthen a company’s international presence. Luckily, there are viable alternatives to this costly expansion model.
Many factors that increase an organization’s capacity to innovate are positively related to a higher level of globalization. And, because of its fast-spreading popularity, business globalization has stirred up great expectations among global influencers.
International expansion is seen as one of the most promising trends in today’s business world, and entrepreneurs increasingly seek to drive growth by tapping into global markets.
The following are some of the main reasons to consider expanding your business to other countries.
Market expansion and diversification
Naturally, products sold in more than one country enjoy greater visibility than similar products sold in the domestic market only. Overcoming cultural and language barriers is a crucial step in the effort to win over foreign consumers.
Combined with a good promotional strategy, properly positioning your company in international markets can lead to higher demand and improved sales for your products..
A saturated domestic market
Focusing on the domestic market only can lead to problems such as engaging in a tighter competition for sales, which can restrict expansion.
Another factor to consider is the result of policies adopted by the countries where you wish to expand. Like many other countries around the world, Brazil currently faces a severe recession that stemmed from bad decisions and corruption by its political class, making it a risky environment for all types of investments. Meanwhile, other countries have been able to emerge from their recessions and now offer good business opportunities.
Taking your brand global
By expanding your brand’s presence and visibility, the people within your organization will face new challenges, be exposed to new ideas and feel compelled to develop innovative solutions. Going global will make your company more valuable, at both the national and international levels.
As a way to encourage businesses to make the heavy investments that go along with global expansion, several countries offer tax exemptions and financial incentives, which can also attract companies looking to reduce costs.
Why hire a translation company?
The translation company is a key partner in the effort to adapt your content to the target audience in the new market where you want to operate, or in your communications with customers and other stakeholders.
If a small or medium-sized business is looking to expand and enter new markets, it must be able to influence purchase decisions when communicating with potential customers.
Prior to hiring a specialized language service provider, businesses need to make an accurate assessment of their needs and demands.
Translation companies offer a wide range of tools and methods to make sure that your documents are translated to a high standard for your target audience. In our eBook, we offer some guidelines that can help you choose the best translation service for your specific needs.
Hiring a specialized company to take care of your technical translations provides a long list of benefits to your business. The chances of keeping reliable and accurate content increase exponentially, while keeping mistakes to an absolute minimum.
As we have seen, hiring a specialized translation company is a must for any global expansion strategy. Do you feel more comfortable about investing in this essential service? Leave your comment and tell us more about it!