Doing business in the UK requires some cash and some knowledge of the local market, but most New Zealand businesses find it worthwhile, according to a NZ Trade and Enterprise report issued last week.
NZTE surveyed 32 executives who had established UK operations. The report says 84% are positive or very positive about the commercial experience they had gained, and 69% are enthusiastic about the return on investment.
Logistical issues should be expected and planned for, the report says, including the high cost of business premises, difficulties opening a bank account and establishing a UK credit rating.
More favourably, New Zealand businesses have a positive image and are often able to make good use of their antipodean resources outside UK working hours.NZTE recommends preparing a well-researched business plan, improved logistical planning and development of a “credibility strategy”.