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Lessons from abroad

Cover story

Consultants contacted by NCE pointed out that UK based companies have made their fair share of mistakes when moving into new countries. Based on this information, NCE has compiled a useful list of things to avoid when moving abroad:

Do not demand that all decisions are referred to your head office

Do not change contract terms and cut salaries

Do not fail to keep staff members in new acquisitions informed of changes in management structure

Do not demand that directors relocate and try to run their offices from head office

Do not go into a new market with a 'We know best attitude'

Do not assume client relationships are the same as they are at home

Do not attempt to charge similar fee rates to those at home without understanding the market

Do not make all decisions on a capital cost basis without understanding local drivers

Do not assume that the market is the same across a country

Do not fail to understand local politics

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