Business News

Tue Oct 10

What To Know About Doing Business In Europe

Written by News Feature Team

There are plenty of reasons to do business in Europe, but also unique intricacies to make sure you have a handle on before doing so. Some of the benefits of doing business in Europe, particularly if you’re a US or Australian-based business include the fact that language isn’t often an issue, many of the processes are similar in these locations, and the infrastructure is strong.

Of course, there are differences as well, and there are things you should keep in mind to ensure it goes smoothly.

The following are some things to know about doing business in Europe.

Choose the Right Expense Management Software

When you’re expanding your business to Europe, one of the first things you should do is find the right global expense management solutions.

You’ll need an expense management platform that can handle the tax complexities in Europe, language issues, and currency conversions. It’s best to look for a platform that automates all of these processes to make it as simple as possible. Also, when you’re operating across geographic borders you want to ensure everything is centralized and visibility is robust, and also that employees can track expenses from anywhere at any time.

Be Ready for Face-to-Face Interactions

Despite the widespread availability of digital communication tools, in Europe, face-to-face interactions are extremely valued and important. If you’re setting up shop at any scale in Europe, you should be prepared to meet this expectation.

You’ll of course also want to learn about local customers, cultural considerations, and business practices, but you need to go beyond considering the EU as a whole, and instead look at individual regions and countries because it can vary significantly even among countries that are part of the European Union.

Centralized Rules

While there are many localized rules and regulations for doing business in the EU, there are also centralized ones as well.

As an example, there’s a new one that goes into effect on May 25, 2018 called the General Data Protection Regulation or GDPR. This one is an extension of existing data protection regulations, and it’s going to put more stringent rules on how data is handled. It will dictate important rules on how businesses and organizations use and store personal information, and businesses operating in Europe will be required to create the right infrastructure and processes to adhere to what’s outlined by this.

Consider a Partnership

In Europe the concepts of bright new ideas, products, and services are welcome, and sometimes the best thing companies from abroad can do to break into Europe is create a partnership or merge with an existing company. Acquisitions can also be a good route. The European startup scene is currently booming, making it a great time to start exploring these opportunities.

If you’re a corporation that’s looking for international expansion, keep your ear to the ground regarding promising new European startups that could offer you a valuable opportunity. Right now it seems like the sectors to really watch include healthcare and environmental.

Fri Sep 29

6 ways to make sure that people remember your business

Written by News Feature Team

In the competitive world of business, it is vital that you stand out from the crowd. Your customers should be able to clearly identify your brand when they are evaluating their options. If your business exists in a particularly crowded area of the marketplace, you cannot afford to take the same approach as your competitors. Instead, you need to create a dynamic brand and offer a unique service. You will also have to work hard at maintaining contact with your clients. If you are wondering where to begin, you will need to read on. Below are six ways to make sure that people remember your business.

Invest in promotional items

One way for you to ensure that people remember your business is by investing in promotional items. Offering corporate gifts is a great way to appeal to your clients. The gift should act as an extension of your brand. That is why you need to make sure that you only provide quality products. You should also look out for products that people will want to keep. For instance, it is much more likely that your clients will keep useful items such as a pen or a notebook, than a cheap and tacky item that takes up a lot of space. If you are able to select a gift that will be kept in your client’s home, or work space, you will have ensured that they are faced with a constant reminder of your organisation. If you are hoping to boost the profile of your brand even more, you could also give corporate gifts to your employees and business contacts. This will lead to more people becoming aware of your business and the services it provides.

Manage your contact list

It is vital that you stay in regular contact with your clients. In order to do this, you will need to create a comprehensive email list. This is a great way for you to stay in touch with your clients on a regular basis. Make sure that you don’t bombard your clients with unnecessary emails, as this may lead to them blocking your messages or setting your address to spam. Instead, try to send emails that your clients will actually want to read. One option would be to send emails that alert them to your latest promotions and offer specific deals for people who are signed up to your mailing list. You should also set up a database that details all of your important business contacts. This should include the details of your investors and potential business partners. Keeping your contact information up to date, will remind you to nurture your relationships. You could even add a section for notes, where you can document the last time someone from your company reached out to a specific contact.

Communicate on a number of different platforms

In this digital age, your business needs to communicate with its clients both online and offline. Don’t just opt for a simple website. Instead, make sure that you have a strong presence on a number of different platforms. If you connect with your clients via all of their social media accounts, it will be difficult for them to forget your business. Make sure that there is a clear link between all of your different profiles. For instance, if you are on Twitter you could share a link to content that you just posted on your Facebook account. Ideally, you want your audience to have an incentive to connect with you in a number of different ways. Don’t forget to make your content interesting. You could try a one to three ratio, where only one in every three posts is strictly business. The other two posts should be relevant to your brand, but not overtly corporate.

Work hard on your customer service

Providing excellent levels of service will lead to people recommending your business to their loved ones and work colleagues. A mediocre organisation is unlikely to achieve a strong reputation for the right reasons. However, a business that offers outstanding customer service will stay in people’s minds. Try to encourage your staff to embrace the personal touch. They should always offer their names and adopt a friendly manner. Why not set up a training programme to ensure that all of your staff are highly skilled in dealing with the general public? You should also encourage your customers to provide feedback, as this will alert you to any improvements that need to be made. Once you are aware of these improvements, you should act immediately. This is the best way to show your clients that you care about their opinions and that you are truly grateful for their custom.

Update your branding

In order to maintain people’s interest, you will need to update the branding of your business on a regular basis. Make sure that you are always giving people something to talk about. You could make subtle changes with each season. Alternatively, you could plan a complete reinvention every few years. Whatever you do, just remember to keep your brand fresh and exciting. This will also be a fantastic way to draw people in to your business. When your potential clients are looking for a service, their first impression will come from your branding. You don’t want it to let you down!

Work on your USP

Every successful business has a unique selling point. This is one of the best ways to ensure that you stand out. If you offer a unique service, people will have no choice but to return to you. It is incredibly difficult to be original in a competitive market. However, even a small added extra could make a huge difference. For instance, if you run an online gift store, you could offer free gift wrapping. Or, if you run a graphic design company, you could offer a free consultation for every new project. This will give your customers an incentive to choose your business every time.