Global Commerce: Business across regions navigating the new era of International Trade
Our recent comprehensive survey conducted across South Yorkshire, Lincolnshire and the East Midlands has unveiled critical insights into how businesses are navigating the challenges posed by language and cultural barriers.
The findings reveal that a significant majority of businesses have encountered language barriers that adversely affected their operations and led to missed opportunities. Despite these challenges, businesses are actively seeking and utilising professional translation services and are unanimous in their recognition of the importance of language and cultural competencies.
A notable insight from the survey is the proactive approach businesses are taking towards multilingual communications and marketing materials, with many leveraging professional translation services and in-house resources. The desire for comprehensive services, including intercultural communication training and language skill development workshops, highlights the broader recognition of the need to effectively navigate cultural complexities.
The survey across diverse business sectors revealed consistent concerns and insights regarding language and cultural barriers in business operations. It showed:
- A significant majority of respondents have encountered language barriers in their business operations. 100% of participants from South Yorkshire and Lincolnshire, and 80% in the East Midlands survey indicated facing such barriers.
- There's a notable impact on business opportunities due to language barriers, with 100% in Doncaster, 67% in Lincolnshire, and 50% in the East Midlands survey reporting lost opportunities.
- Over 60% of respondents are actively exploring new tools and AI technology to overcome these barriers, with 100% expressing concerns regarding privacy, copyrights, accuracy, and the risk to reputation from translation discrepancies.
- All respondents engage in international trade, underscoring the importance of addressing language barriers for business growth and expansion.
- The majority of businesses have used professional translation services, indicating a proactive approach to overcoming language barriers.
The survey highlighted several aspects of cultural differences impacting business, including communication style, marketing strategies, and customer interactions, pointing to the complex nature of navigating global business environments.
More than 100 businesses responded to the survey, which was carried out between 20th January and 20th March 2024.
Whether you're taking initial steps towards international expansion or looking to strengthen your presence in existing markets, PAB SEMA4 is your partner in achieving seamless and successful global engagement.
When you’re are looking beyond national borders for new opportunities, we can assist you along the way.
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