Insider North West: International Trade Breakfast
7th February, 2020
Aaron & Partners were at a great event this morning run by Insider North West.
The North West International Trade Breakfast in Cheshire 2020 had a great range of speakers.
They have used a mixture of agents, distributors and international trade missions to grow sales abroad through local presence and market knowledge.
To break the barriers to exporting – keep aware of changes in markets, learn a bit of the language and culture and going for a beer (or gin) usually helps!
Sara Knowles, International Trade Team Leader at the Department for International Trade told us that the Word Bank’s Ease of Doing Business Index has New Zealand at the top & some African countries as the most difficult places to do business. Some Latin American countries are relatively easy to trade with but barriers exist due to different laws at state level in China and the US.
Whilst English is an international language only 6% of global population speak it fluently. Thinking about the local language is important as, to paraphrase, Nelson Mandela if you speak in a language someone understands it goes to their head but their own language goes to their heart.
The second panel on the stage at the event were Louise Bailey of Cygnet Texkimp, Ian Jolly from Wheelwash Ltd and Lynton Buxton from The TALL Group. Part of cultural differences may include payment terms and in some countries deposits are not paid and in others 50% might be paid up front.
On Brexit, customers from #EU countries have asked about what is going on and including clauses in contracts that the supplier picks up any increased costs. On cultural differences, google translate isn’t always the answer and relationships help you understand product tolerances in a given market.
Also flying the flag for Aaron & Partners recently were my colleagues Stuart Haynes and Jamie Hawley, who took part in the Insider’s #Overseas #Trade round table on “Why many companies are enjoying success in the US” which you can read about in the December 2019 edition
At Aaron & Partners, we are UK specialist lawyers listed on the Department for International Trade website
As part of IAG Global – an association of independent professional firms from around the world – we can help with inward and outward investment – if not directly then through our network of trusted advisers.
Check out our international site to find out more about Aarons International and how we can help you.