The predominant economic environment is, without a doubt, challenging; however, businesses, their proprietors, and managers should not feel weak. Positive actions can be taken to ride out the most severe dips or even gain a competing advantage when the situation enhances.
But, first, some problematic facts.
Unless you have been left behind on a remote island in the past year, you will be aware that the UK is experiencing the most prolonged recession because of the Second World War. The USA’s economy has also taken a massive hit, contributing to the financial gloom over the English-speaking world. Despite Gordon Brown’s assurances that GREAT BRITAIN was better placed compared with most to ride the recession, recent economic figures have painted a rather distinct picture. While Japan, England, and Germany have already liked six months of recovery, the most up-to-date figures confirm that the British isle’s economy has suffered five straight quarters of suffering output. The UK is now the last significant financial system to claw its other option of recession.
Such designs have had an impact on the foreign currency markets. The Sterling has continued to fall against the euro and the Japanese yen. This is a design that is not expected to change quickly. Bank of England forecasts suggest inflation will undershoot the 2% target for CPI. As a result, interest rates are required to remain low through the year 2011. Analysts at Société Générale recently conjured images from the distant past when they released a note asking, “Is the united kingdom the sick man associated with Europe? ” Such an economic system has placed immense stress on SMEs, with UNITED KINGDOM businesses continuing to face doubt.
Reasons for Optimism
If anything at all is clear, it is that the worldwide recession is not playing away evenly. However, although The UK seems to be faring worse within this turn of events, it is not almost all doom and gloom. Financial recovery in Europe might offer some cause for confidence here in Britain. We reside in an increasingly globalized world — economies across the globe rely upon each other. Nowhere is this more obvious than in the fact that the inducement of this recession has been related to the problems in the US subprime home loan market of 2007. Company Secretary Lord Mandelson lately pointed out that an estimated 55% associated with UK trade is with European countries; economic recovery in European countries is, therefore, the good news about UK business.
In addition, the actual weak pound may help recovery. Although painful throughout the summer holidays, the state of the actual sterling currently makes GREAT BRITAIN products and services more attractive to worldwide consumers. Already we have viewed evidence of increasing demand for British isles goods in foreign niche categories. Monopolizing these tendencies could potentially help to speed monetary recovery in the UK.
The translation is a Business Survival Strategy.
Now, how might SMEs take advantage of American recovery? One such way of using the benefits proffered by an improving European market is by way of translation services. Translating brochures straight into French or German could open up new markets in business and offer the opportunity to tap into intercontinental markets that have not already been so badly hit. Similarly, the translation of websites may attract the attention of new prospective customers abroad, many of which will seek to take advantage of the weak pound. Monopolizing the strength of overseas markets in this way can offer a method for “recession proofing” your business.
FIGS: A popular as well as a sensible choice
The vast selection of possible translation services may initially be slightly overwhelming to SMEs hoping to expand into foreign markets. A popular starting place for European translation is described by the acronym FIGS – French, Italian, German born, Spanish.
Germany alone continues to be named the 5th biggest economy in the world. In 08, it had an estimated GDP of US$ 2 . 8 trillion – more than a quarter more than that of the UK. Likewise, England, Italy, and Spain are ranked 8th and 10th, along with the 12th largest world economic climates, respectively.
Once one thinks of other countries where FIGS are primary ancient languages, the figures grow to be even more staggering – Mexico, Argentina, Switzerland, Mexico, The us (in Quebec), Venezuela, and a few. In addition, there are large numbers of people who speak the FIGS languages as an overseas or second language. Practical factors also make FIGS interpretation a sensible choice. The FIG’s different languages use the Roman alphabet and therefore are relatively straightforward to include in various typefaces and on the internet. In summary, FIGS translation provides a simple way of busting into a diverse range of overseas markets.
Why use a professional?
Undoubtedly there will be certain costs active in the translation of brochures, sites, and other related documents even though these are often less than 1 might think. Even so, a few might be tempted to cut edges and bypass professionals throughout translation attempts; this would be unwise.
Many humorous stories abound on the internet on the pitfalls of less-than-specialized translation. Some are undoubtedly apocryphal, but many contain a grain involving truth, and they all warn how tiny or maybe colloquial errors in terminology can radically alter this means. An advertising campaign by Scandinavian vacuum makers Electrolux, headlined “Nothing Sucks Like an Electrolux”, was perhaps unsurprisingly rapidly withdrawn in the USA (although you will find a counter-claim that this was a
prepared joke by a GREAT BRITAIN agency). It’s reported in Parker Pen once sold a ballpoint pen throughout Mexico with the supposed mantra “It won’t leak in the pocket and embarrass you.” Still, the amateur translator concerned mistakenly thought the Spanish language word “embarazar” meant humiliate. The ads explained, “It won’t leak in the pocket and make you currently pregnant. ”
Early attempts by shopkeepers to advertise a well-known non-alcoholic drink in Chinese were branded as ‘Ke-kou-ke-la,’ based on the fact that that sounded similar to the English authentic (a method termed transliteration). Unfortunately, it later took place that ‘Ke-kou-ke-la’ actually designed ‘female horse stuffed with wax’ or ‘bite the feel tadpole,’ depending on the dialect. To save lots of embarrassment, the company has rectified this mistake, and a new translation (‘Ko-kou-ko-le’: more appropriately meaning ‘happiness in the mouth’) has been imposed.
These kinds of well-meaning but unhelpful tries at translation are not strictly amusing stories from the earlier. A multilingual emergency signal still in use on several Italian trains reads, “In the event of declenchement regarding audible alarm, evacuee the particular compartment without precipitation and also come into contact with the crew.” While in March 2009, Hillary Clinton put her diplomatic ft . in it by presenting the woman Russian counterpart with a mislabeled symbolic “reset” button ahead of the world’s press (the total story behind this can be entirely on WorldAccent Translation’s “Making Sense” blog).
The translation is a refined, far more complex process than literally translating word for word to the desired language. The aim would be to convey the meaning behind the language. Sometimes certain things will probably inevitably be ‘lost with translation’; professional translators can promise you that this loss is stored to a minimum. It is their employment to keep up to date with info, terminology, and colloquialisms all over a variety of subjects. Using a skilled will enable SMEs to avoid potentially embarrassing cases that can ruin the reputation of a small business in a new sector. Breaking into a new sector can be challenging – never let failure be up to poor translation.
Translation: A Substantial Investment
In summary, translation comes with a way of maintaining healthy corporation finances in the current economic climate. Many might argue it seems paradoxical to be spending more in a recession. Business strategist Rich Denny would usually argue: “When the going obtains tough, business owners should raise their sales and marketing activity as opposed to cut back.” Businesses can easily tap into many international market segments for a tiny increase in outlay. Businesses in the US can enjoy the weaker dollar. At the same time, the continuing weakness of the pound up against the euro and the yen symbolizes a massive opportunity for British SMEs. The effective use of English-to-Chinese translation can mean such an opportunity is just not wasted.