Ambitious start-ups have the business world at their feet in terms of opportunity. The key is tapping into it.
A domain name that can be recognised anywhere in the world, along with localised content are important ways to get there. And, for start-ups looking to conquer the world, there’s no time like the present.
International business
It may seem like exporting globally is risky, but there are lots of schemes and Fintech options now available to help companies reach their global potential. The UK is only 1/20th of the global economy, and widening your scope for business can only protect your business in the future.
Here are six ways to start making sales overseas right now:
- Get a domain name that has global reach
Making sure your website is optimised properly to work all over the world is vital. One of the most popular, and most recognised, domains in the world is .com, which was introduced back in 1985.
If you can secure a .com domain name, then it will help to improve the credibility of your business to users and customers anywhere in the world. Make your website address short, snappy and include key words.
- Sign up to a merchant account for trading overseas
It’s essential to have an online merchant account if you want to be successful internationally. It will open up new markets to your business, as you’ll be able to accept credit card payments and online transactions in many different currencies. It also helps to avoid higher fees that you would otherwise be charged when processing international payments.
There are lots of merchant account providers that operate internationally, so do some research and stick with a trusted brand that offers you the best deal for your business.
- Implement the correct currency strategy
When money is transferred across borders it can be subjected to currency rates that aren’t the most favourable. Unchecked, these can cause problems for your bottom line.
There are now lots of ways to avoid this kind of financial impact from cross-border currency fees. Various companies offer foreign exchange solutions that are easy to access and can help to control the volatility of currency exchanges. Always shop around to find the best service for your specific business needs.
- Localise website content
It’s essential to be able to communicate with people at a local level. This means offering translations for key markets and effectively localising content on your website.
Adapt the content to the culture and values of the target country and keep on top of it. If you don’t take these steps you risk losing money and potentially offending a whole swathe of customers.
- Update terms and conditions
There are legal implications for exporting overseas. You need to keep on top of your terms and conditions and make sure that they are updated to show the change in status of your business, as well as the kinds of goods you’re looking to trade.
Get legal advice to make sure you’re complying with UK and international laws, that the correct contracts are in place and that your products are suitably protected. If you don’t, you could be facing criminal prosecutions at worst and fines at best.
- Select a reliable shipping partner
One of the most important decisions you’ll make when you switch to exporting goods is which shipping partner you use. You need to consider various factors when choosing:
- Will they take your products? This will depend on the weight and size of your products, as many have restrictions in place.
- How fast are they? Some deliver faster than others. It’s usually best to offer the shortest possible shipping times to customers.
- How reliable are they? They will be representing your brand and how customers perceive you. It’s important that your products arrive swiftly and safely.
