Look overseas for opportunities in a recession

Natasha Askaroff | August 16, 2011

When the going gets tough, the tough…take advantage! So if the pessimists are right and the economy goes into full-blown recession, will you see it as a threat or an opportunity?

If you’re an optimist, you will view the rocky road ahead as a chance to manoeuvre your company into position ready to take advantage once the green shoots of recovery are evident.

Obviously the optimism needs to be tempered by a healthy dose of short-term pragmatism – a bit of fat trimming here and there may be unavoidable – but you should also be laying plans now that will enable you to steal a march on your competitors once calmer conditions return.

So rather than looking inwards, you should be eyeing what opportunities there may be for your company in overseas markets. If you’ve already established a presence in Europe, say, could America, the Middle East or Asia have potential for your products or services?

Just one additional successful export market could not only help you ride out the storm but also provide you with a platform for future growth.

With the right expertise, effort and commitment, international sales can provide significant and sustained business, whether you are selling a product or a service.

Not so long ago, we helped a client in the insurance sector break into their first international market. Contracts already signed will add £1.5m to turnover – not bad considering they didn’t even know there was a market there for them only 18 months previously.

Developing overseas sales needn’t be expensive. If you are fully committed and do things properly, sales generated in the first two years will easily cover the start-up costs and earn you a healthy profit. After that you can enjoy the full long-term, bottom line benefits.

Even if you are already exporting, a fresh pair of eyes and new skills can help develop the business. Since joining EMC in 2003, I have helped businesses across a range of sectors in different parts of the country to grow their overseas trade. As a result, they’re now much better placed to face the economic downturn in the UK.

Simon Partridge is an international sales & marketing consultant with Maidstone-based EMC Management Consultants If you are interested in exploring the possibility of international trade please contact him on 07830-296021.