Travelling light

Fancy expanding beyond your home market? No problem. Just ask your research department to prepare a comprehensive report on the market and possible acquisition targets, get finance, legal and compliance to investigate local regulations and the money side, and send someone from business development out on a three-month scouting mission to build contacts in the region – your admin support can organise visas and make travel arrangements. But hang on – what if your company doesn’t have a research department, a business development function or large teams of support services, or indeed the cash to make foreign acquisitions? What might be a major undertaking for a large firm can sound impossibly daunting to a smaller one. But there are compelling reasons to take the plunge anyway: UK Trade & Investment says that 90% of the firms it works with fall into the SME category and that, on average, they go on to win £100,000 of new sales within 18 months. In this article for Modus, the magazine of the RICS, I spoke to small surveying practices that have managed to successfully expand abroad and found out how they did it.