Foreign Markets Could Bring Recession Relief

With the UK economy not expected to start recovering until at least 2010, many UK businesses are shifting to a defensive stance in order to minimise risks and ensure their long-term prosperity. However, one man’s recession is another man’s opportunity, and UK businesses must recognise the wealth of opportunity that has emerged from the darkness of recession.

The IMF published some rather daunting statistics: the UK economy is expected to shrink by 2.8% in 2010, the Eurozone’s by 2.0%, and the US’ by 1.6%. In contrast, growth will continue in emerging and developing countries, albeit at a reduced rate. Rather than seeing this as bad news, it should be seen as an opportunity. Additionally, as the weak Sterling has caused UK export prices to fall by 20% in the Eurozone and 30% in the US, there has never been a better time to do business abroad.

The internet has made reaching new customers in overseas markets easier than ever before. According to ‘Internet World Stats’, English speakers make up only 29.4% of all internet users. Couple this with research that shows people are 10 times more likely to buy from a website that’s in their own language, it is clear to see how putting your site in other languages can open up a world of opportunity, and more importantly, potential customers.

A multilingual website is just one of the ways you can tap into foreign markets. With the right linguistic and cultural support you can get the edge over your competitors by developing a campaign to attract overseas customers and put your products and services on the international stage.

To find out how we can help localise your website content and marketing materials, contact the team.