Etikett: business

10 Tips for Going Global

Localization to another market isn’t very easy, and if done improperly, can be dangerous to your bottom line. This is especially true for translation. SDL International found that “eight out of 10 international businesses lose revenue, delay product launches, or pay fines for non-compliance because of translation errors.” We’re guessing that’s a majority you don’t want to be a part of when you are going global.

The Challenges of Going Global

There are many obstacles standing between your business and international success. Here are three of the trickiest:

  • Cultural Differences: People’s beliefs and preferences differ widely from culture to culture. For example, some societies prefer online shopping and others dislike buying anything without face-to-face contact. Payment method preferences also vary widely. While Japan feels safer making use of credit cards online, Germans often opt for bank wire transfers and direct debit. Before entering a new market, take time to research all the nuances of the people within it.
  • Differences in Communication Styles: The issues of communicating with international customers go far beyond language differences. Things like displaying dates, body languages, and color preferences also play a part in making a product launch successful. Learn everything you can about a country’s communication style before launching that advertising campaign.
  • The Complexity of Law and Logistics: Tariffs, duties, shipping prices, and tax laws can make stark difference to your firm’s finances. Not learning about them beforehand can also leave your company on the wrong side of an orange jumpsuit. Consult with a legal professional in your target market before finalizing any expansion plans.

Not handling these challenges effectively can land your company in a pot of hot water.

Ten Tips for Making Your Localization Efforts a Roaring Success

Knowing the nature of the localization beast better equips you to combat it. Here are seven things you can do to make going global easier:

  • Capitalize on Your Diverse Staff: Your staff all come from diverse cultures and unique backgrounds. Make use of that. Get their input on your internationalization plans. See how they feel about your ideas, translations, and localization efforts. You might be able to stop a PR disaster before it starts.
  • Find a Translation Partner That Knows Your Product: If you manufacture children’s toys, you need to find a translator who knows about the toy industry. This not only ensures you won’t run afoul of any obscure laws, but also gives you a partner who understands your product’s needs and target market.
  • Be Picky About Your Translator: Don’t just go for whoever is cheapest. And, for heaven’s sake, do not rely on free software like Google Translate! Your words are often the first thing a customer sees. Pay for a great translator and ensure that your first impression is a good one.
  • Make Sure Your Global Plan Is Solid: Going global should never be approached half-heartedly. Take the time you need to ensure your localization plan covers all your bases. Not doing so is just asking for a PR disaster.
  • Use Emotion to Transcend Cultural Lines: Happiness and sadness transcend artificial borders. If you’re having a tough time getting your message across, try bringing some emotion into your marketing.
  • Don’t Let Your Home Market Limit Your Creativity: Translation doesn’t have to be word for word, and your advertisements shouldn’t be cheap knock-offs of the originals. Always customize your marketing to meet the preferences of your target markets.
  • Familiarize Yourself with Local Laws: Failure to account for tariffs in shipping costs, can quickly derail your expansion plans. Always consult with an export professional before getting too far in your globalization efforts.

Otherwise, your firm might end up on the wrong side of the law.

Going Global With Swedish Translation

Any business looking to grow in this day and age must venture beyond their home markets. While not impossible, international expansion is never a task to be taken lightly. Keeping the tips above in mind, however, should make it a little bit easier.

If you are a company looking to make your mark on the Swedish market by going global, you can contact Swedish Translation Services for your translation and localization needs.

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5 “Odd” Features of Swedish Business Culture That Make Sense

This article explains 5 aspects of Swedish business culture with an Anglo perspective in mind.

Business Opportunities in Sweden: 4 Opportunities for Tech-Savvy U.S. Companies

Science and Technology Center

Science and Technology Center

Sweden is an advanced nation known for its high-tech market, so it should come as no surprise that business opportunities in Sweden are geared toward tech-savvy companies.

If your team has the knowledge and skills to stand proud alongside Swedish engineers and techies, keep reading to learn about 4 big opportunities for U.S. companies in Sweden.

1. Information Technology (IT)
Sweden is an IT superstar, consistently ranked among the top countries in the world in terms of networked readiness, global connectedness, and ability to use the Internet to improve people’s lives.

However, this doesn’t mean there’s no room left for U.S. companies. Providing IT solutions to growing industries like education, healthcare, and business infrastructure and services presents a huge opportunity for techies interested in the Swedish market.

2. Healthcare and the Life Sciences
The healthcare industry is one of the biggest and fastest-growing on the planet. Healthcare is an especially profitable field in highly-developed countries like Sweden, where advances in technology and an aging population present new opportunities to improve the human condition.

Better yet, Sweden enjoys the highest per capita expenditures on life science research in Europe, creating an enviable environment for pharmaceutical companies and other players in the healthcare field.

3. Renewable Energy
As illustrated by viral international news reports that that Sweden has run out of garbage, Sweden’s commitment to renewable energy and sustainable living is difficult to rival.

As the country continues to move toward an even “greener” future, business opportunities in Sweden are plentiful for companies interested in the following areas:

Bioenergy
Biofuels
Solar power
Wind power
Geothermal heating
Waste-to-energy systems
Sustainable wastewater treatment
Electric vehicles

4. Manufacturing and Materials Technology
With plentiful natural resources, highly-skilled engineers, and a network of R&D centers focused on materials, Sweden is an attractive location for many players in the industrial and engineering arenas, especially those who wish to develop and test new materials.

This is particularly true for companies interested in cutting-edge areas like nanomaterials, bionanotechnology, and nanoelectronics. American companies looking to enter the nanotech field may wish to begin by reviewing a listing of nanotechnology companies in Sweden.

As you can see, many of the leading business opportunities in Sweden for U.S. companies are in fields that are becoming increasingly important all over the world. That should also come as no surprise, since Sweden tends to be on the cutting edge of research and innovation.

One last thing before you go: I have a professional background in IT myself, so if you are interested in pursuing the first of the business opportunities in Sweden listed here, please stop by my software and website localization page to find out how I can become a valuable member of your team.

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Doing Business in Sweden: 9 Helpful Resources

Although Sweden offers an open business environment relatively free of bureaucratic red tape, doing business in Sweden can still be confusing if you don’t know where to turn for assistance.

This article will help by introducing you to 9 great resources that can get you started on the right path.

1. Sweden.se

Sweden’s official promotional website, Sweden.se provides a reliable resource for facts about Sweden. The information on this website is broken down into 6 main categories: society, culture, traditions, nature, business, and quick facts.

2. Europages.co.uk/companies/Sweden/Sweden.html

Europages is a portal for and directory of European companies intended to encourage business-to-business interactions. The link above provides a list of Swedish businesses; looking through it could be your first step to finding a local partner.

3. Startupoverseas.co.uk

Startup Overseas is a resource intended to help you launch or expand a business outside of the United Kingdom. There, you can find information about starting a business in or expanding a business to Sweden, buying a business or franchise in Sweden, and importing or exporting to Sweden, along with a list of experts ready to answer your questions about doing business in Sweden.

4. Business-Sweden.se

Jointly owned by the government of Sweden and Swedish private industry, respectively represented by the Ministry for Foreign Affairs and the Swedish Foreign Trade Association, Business Sweden facilitates foreign investment in Swedish organizations and international growth for Swedish companies. Business Sweden can provide strategic investment advice, matchmaking and introductions to public and private Swedish companies and organizations, meeting arrangements in Sweden, and much more.

5. Swedish Chamber of Commerce for the United Kingdom

The Swedish Chamber of Commerce for the United Kingdom is a non-profit organization that promotes the exchange of ideas and experiences, along with networking and trade, between Sweden and the U.K. This organization can help you with various aspects of doing business in Sweden, including setting up introductions, references, company visits, and study visits, along with providing event management services.

6. Swedish-American Chambers of Commerce

SACC-USA is grassroots nonprofit organization that facilitates and supports trade, commerce, and investment between the U.S. and Sweden. This organization’s offerings include the Business Accelerator Program, the Swedish-American Membership Directory, the Entrepreneurial Days trade and networking event, and a Trainee Program designed to provide U.S. companies with qualified trainees from Sweden.

7. Stockholm International Fairs and Congress Centre

The Stockholm International Fairs and Congress Centre, known in Sweden as Stockholmsmässan, but colloquially called Älvsjömässan, arranges trade fairs in Sweden’s capital city, Stockholm. Stockholmsmässan’s website is a great place to find information about upcoming exhibitions and events, as well as learn how to run your own.

8. Fairlink

A subsidiary of Scandinavian Survey Group, Fairlink strives to be a center of excellence serving the conference and exhibition industry. This organization provides extensive information about and training for Swedish trade fair organizers and presenters.

9. Svensk Handel

The Swedish Trade Federation, is an organization for Swedish employers that serves the entire commerce and trade sector. This organization offers commercial development and establishment advisory services within the retail trade sector.

Of course, I also hope that I can be a helpful resource to you as you begin the process of doing business in Sweden, both through the information provided on this blog and through my professional English to Swedish translation and localization services.

I wish you the best of luck!

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Interesting Facts on Doing Business in Sweden From SACC

As a Swedish translator I follow business news in Sweden, but particularly news from the Swedish American Chamber of Commerce (SACC). US and Sweden have a long history of thriving business relations with each other. Here are some interesting statistics about the Swedish business climate from SACC:

>> Sweden’s business sector is unique for its large number of multinational corporations in relation to the relative size of the national economy.

>> Sweden places third in economic competitiveness within the EU, after Switzerland and Denmark (Source: World Economic Forum, 2008-2009).

>> Sweden is ranked as number four in economic competitiveness (Source: World Economic Forum, 2009-2010).

>> Sweden is ranked number one when it comes to technological readiness (Source: World Economic Forum, 2009-2010)

>> In 2008, there were more than 12,800 foreign-owned companies employing a total of 620,000 Swedes. USA was the country with the most IT companies, 241 and almost 12,000 employees. (Source: Only in Swedish; Tillväxtanaly)

>> Sweden is foremost in innovation capability (Source: Global Summary Innovation Index; Trendchart, 2007).

>> The highest internet penetration in Europe; 80% (Source: Invest in Sweden Agency)

> Sweden was in 2008 ranked number 18 as one of the leading exporters and importers in world trade in commercial services. (Source: WTO)

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