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Doing Business in Mexico - Trade Missions

International Business Opportunities

Doing business in Mexico - Trade missions

As part of your international business development and growth strategy, you may be looking at export business opportunities and Mexico is now on your radar and here’s just a few reasons why it’s on ours too:

  • One of the fastest growing economies, predicted to be the 7th largest in the World by 2050
  • More free international trade agreements with other countries than any other in the World
  • They speak Spanish … the bit we are good at!

You may (like us) be on the UKTI Passport to Export programme. The programme provides excellent value for money and a great way to gain insights into ‘import export business’. The insights allow you consider all angles so a rounded view is formed and before embarking on an implementation and roll out plan.

Having attended several workshops personally it gave an insight into how companies in emerging markets view things, especially when it comes to translation and localisation. What was surprising was the importance and sometimes non-importance they put on it … it was quite revealing (one of the guys in the office speaks such and such, so we have it covered or I use Google translate … that type of thing).

Remember: your web site regardless of how they find you, is more than likely ‘first contact’ so first impressions do count.

Export Communication Review

The Export Communication Review (ECR) (again recommended and endorsed by the UKTI) is a health check on whether your web site is ‘fit for purposes internationally’. It’s a professional expert third party take on things and is followed by a report detailing the points which need to be made good and helpful hints to maximise your potential. The do run promotions on ECR initiatives and the UKTI do (as we were able to benefit from it) a subsidy. Worth asking your ITA.

That all said …

UKTI Trade Missions

We (TLC UK) prior to commissioning a Mexican OMIS report were looking at exporting our business translation services with a view to exporting direct in-country.

An OMIS is an Overseas Marketing Intelligence Service report. It is compiled by commercial officers in-country and is devised through agreeing a brief on what information you specifically want to know.

We did it because we didn’t know too much about demand for translation services, what documents need translating, what the existing arrangements are, who the key players are etc. Working with the UKTI Commercial Officers in Mexico and several attempts at creating a water tight brief and clarity on what we wanted, we went for it. The report came back suggesting (that was our interpretation with our International Trade Advisor (ITA) that due to the existing low price point, a franchisee business opportunity/model was probably going to deliver a greater level of success (i.e. using local country resources under the TLC brand).

Our next step in our international trade development plan is to organise through the UKTI a trade mission to Mexico. Our local ITA has indicated there is one being planned in November this year. We hope to be on that plane and hope you will be too … Mexico as well as being an awesome country looks set to steal the show from the BRICs!

As with everything else, research is key and after having done the desktop bit and got an initial green light, the next step before fully committing foreign trading budgets is to explore the market, in market.

To us, finding out about a trade mission to ‘try before you buy’ (so to speak) is pretty much a no-brainer. So whatever your businesses in emerging markets happen to be … we wish you the greatest of success!

Some help:

If you are considering a trade mission and are stuck on what to do next, go through your ITA or contact the UKTI direct to get details of your local support network. There are grants and subsidies available.

Written by Darren Elliott.

Why the article? You’re not experts in this field.

True but we do strive to understand our client markets, so our clients benefit from a better level of service when it comes to translation and legalisation … www.tlcuk.biz.