Home Business News Expert explains we are officially in a recession, but there’s no need for businesses to panic and give into the scare mongering

Expert explains we are officially in a recession, but there’s no need for businesses to panic and give into the scare mongering

by LLB Finance Reporter
5th Jul 22 11:13 am

In recent months, the cost of living in the UK has risen and continues to increase. With everything becoming more and more costly, businesses are beginning to suffer, and it may not be long before the newspapers and media outlets broadcast that we are in a recession.

Although a recession can be scary for most, there’s no need for businesses to panic and give into the scare mongering that will be pushed. In fact, this is the perfect time to boost opportunities and take advantage. Sergio Afonso, CEO of Absolute Translations shares his expertise.

Across the globe

Despite the declining economy in the UK, markets throughout the world are thriving. Businesses expanding overseas may just save them from potential economic damage, allowing them to almost recession proof themselves.

Many UK businesses may not consider global expansion as an option; however, big and small business alike are starting to realise that ‘local’ doesn’t just mean ‘local’ anymore. Usually, brands may steer clear of reaching across the pond, but this is because they haven’t been given the right tools to thrive in those environments.

Utilising translation services can have a huge impact on how a business fares during this time and can help companies to take control of the direction they’re heading in. By translating their marketing, product information and more into as little as 12 languages, businesses can effectively interconnect and branch out to 80% of the globe, opening up a wider consumer market.

Planning

In such times of economic hardship, it is vital to plan before it is too late. Right now, we are ahead of the curve which can benefit businesses greatly.

This is the time to find amazing people to join teams, to win contracts that others may be pulling out of due to fear, and to even get special deals on supplies. In the coming weeks, it is important that businesses prepare themselves not only economically, but also mentally to ensure they go from strength to strength.

Staying focused on business goals and ignoring the whirlwind can make all the difference. Brands should be utilising translation companies to plan ahead and ensure they are able to effectively communicate with potential overseas partners.

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