Business in UK ‘worthwhile’ for most

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.

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”.

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