We’ve had our busiest January so far. Turnover and profits up 50% on January 2007! We’ve been particularly encouraged by business from new customers this month.
The month has ended with us attending valuable networking events including a very useful EMITA seminar on Importing. We learnt the interesting statistic that the average East Midlands company spends £2m per year on imports. “Not much relevance to a translation agency” I hear you say. Well, we actually source more than half our translators outside the UK. It isn’t an issue of cost, rather of having the right people to do the job.
In-country translators have some definite advantages in being up to date with terminology. We’re not quite at the £2m mark yet, but give us time. What is of real importance is things like movements in exchange rates, and ease of international payments. These issues are important to us and to our customers, as we seek to grow internationally.
Operating in a range of currencies
We already price for the US market in dollars, and can also charge in Euros or other leading currencies. Similarly we pay translators in a range of currencies including GB pounds, US dollars, Canadian Dollars and Euros.
Translations for importers
Another angle on importing, is that we can provide translation services to foreign companies needing their labels and packaging translated into English (both UK and US), and we can also facilitate trade negotiations by offering interpreting services, and a range of intermediary language services.