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Language skills key to UK businesses

27 Jun 11

IFAs with the ability to speak a foreign language can achieve 45% more sales.

IFAs with the ability to speak a foreign language can achieve 45% more sales.

Howe said UK firms should ensure they do not restrict their growth to either just English speaking countries or British expatriates because of language or cultural barriers.

She cites a Chambers of Commerce study which found 11% of its members did not export to Europe because of language barriers while 5% said cultural barriers stop them from trying to access European markets. The same research found on average small businesses were losing £250,000 a year due to a lack of language skills.

To assist businesses wishing to take a more proactive approach to these barriers Comtec is offering a free one-hour review of their language communication requirements. Furthermore, firms will be able to download Comtec’s ‘Guide to using language in international business’ from its website www.comtectranslations.com.
 

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.