I’m not Theo Paphitis’ biggest fan, but his programme on BBC2 last night: Theo’s Adventure Capitalists I thought was excellent. The show highlights the benefits, and warns of the pitfalls, of doing business abroad.
Last night, Theo followed three companies as they tried to lock in deals in Vietnam. Some important lessons came out.
First, with the pound weakened and the British economy sluggish, now is an excellent time to do business in developing countries that are not suffering from the same downturn in growth. Vietnam is growing at a rate of 4-5 per cent in spite on the global recession.
Don’t get overexcited, though, Theo warns:
“Setting up shop on foreign soil is fraught with danger and can lead to expensive misunderstandings.”
Always do your homework before diving in. Here is a starter for 10 on what to remember if you’re thinking about investing in Vietnam:
Next week Theo will be in India. It’s worth a watch.
Conversis – The Professional Translation Service Agency
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