IN THIS ISSUE...
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Do you need capital investment?
How does a $10 million turn-over company become a $100 million turn-over company and successfully internationalise itself?
Here I explore different avenues for attracting capital investment, some of which you may not have thought of. Read more...
C Beard
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Success in Asia roadshow highly valuable
ExportNZ teamed up with Victoria University in March-April, to help disseminate the results of two years of research, including interviews with 70 NZ companies exporting to India and China and some of their customers in those markets. The result is a rich source of information from exporters, pulled together into some useful findings by the academics on how to succeed in these two important markets.
My summary of the findings from the research project follows. Although there are similarities in tackling the markets, it came through loud and clear that they are also very different.
Key learnings in brief:
- Do your homework – understand the market and, very importantly, the culture – this takes some time.
- Develop relationships.
- Be in market – better if you can have a presence in market, distributors don’t work very well. Need to be close to customers, show you're serious in the market and there for the long haul.
- Be open to joint ventures and working with local companies already in the market. They are more receptive if it is a win/win for them as well.
- Use the diaspora of foreign students we have here to help in their home markets – but need to be sure they are from the right province etc and still have good networks.
- Big countries, both of them, so target a niche/segment.
- Try second-tier cities as they are not as daunting.
- Very important to have a unique selling proposition or point of difference – they are very competitive markets and all the large multinationals are already there.
- On balance, India is judged to be easier than China – mainly due to language, similar regulations and legal framework etc.
- Protecting IP is important and companies have different strategies – but one way is imbedding your IP into your offering, i.e. you are not just selling hardware, you are selling services to support the hardware – it's an integrated package. Another way is to keep innovating and stay ahead of the competition through constantly improving and changing your product – works well in high-tech areas where software is part of the mix.
- They are hard negotiators in both markets and NZ’ers can come across as not being tough enough and being a bit naïve.
- Need to enjoy the country, the people, the challenges and the “game of business” and if you have a positive and realistic attitude it will be easier.
Anyone who missed the 'Success in Asia' seminars can still download the full reports from Victoria University of Wellington's website.
As an added bonus, we also gleaned some top tips on doing business in India and China from exporters present.
Hear exporters' top tips here.
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In the absence of unified leadership on climate change by the world’s governments, consumers are driving change by demanding more sustainable products and services.
The London branch of NZ Trade & Enterprise has commissioned research to uncover what’s driving market demand and how New Zealand companies can best respond to it.
This research demonstrates how companies around the world are using sustainability to uniquely position themselves.
Sustainable BusinessNZ, in partnership with NZTE, is about to release this latest market information at two workshops to be held in Auckland and Wellington on 12 and 13 May.
Find out more
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If you want examples of how the manufacturing industry can use science to boost production, innovation, and lift its game on the global stage, there are some fantastic examples in Solutions - Industrial Research Limited's (IRL) flagship magazine.
In particular, the Autumn issue showcases examples of how IRL’s engaging with industry to expand the high-value manufacturing sector.
The other great thing about Solutions is it's free. You can read this and previous editions online at the IRL website and also subscribe to the publication, which is distributed nationally and internationally. More...
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World-class business know-how up for grabs
A golden opportunity to acquire the management skills needed to succeed in the globally competitive marketplace is being offered through the 2011 Prime Minister's Business Scholarships.
I highly encourage you to ask who in your organisation could benefit from this and apply now!
Last year's scholarship winners are now studying at Harvard, INSEAD, University of Sydney, the Wharton and London Business Schools, and others.
Don't miss this opportunity to grab some world-class learning for your business. Applications close 7 June 2011.
Find out more...
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Technology Transfer Voucher update
The Ministry of Science and Innovation has made it even easier to get one of its Technology Transfer Vouchers to help you get external expertise to carry out an R&D project.
Proposals are now accepted for R&D projects with a minimum value of $60,000. If awarded, the voucher would pay for half of the costs towards contracting one of the Ministry's accredited R&D Partners. Previously, the minimum value for an R&D project was $200,000, whereby your business had to pay half of the costs.
For 2010/2011, $5 million of funding is available for vouchers - which can range from $30,000 to $1 million (GST exclusive).
For more information go to www.technzvoucher.co.nz.
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There's more than $30,000 available to help you with your research, development and commercialisation.
Thanks to The University of Auckland and UniServices, you can find out how to best use this funding to boost your firm's development, get your questions answered and have your R&D needs translated. More...
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