Professional service firms (PSFs) from all sectors are increasingly looking at international markets for growth prospects and to take advantage of the ever growing free trade agreements between various countries. Whether these are PSFs from the West looking at Asia or vice versa, there is no doubting the importance of international trade to this industry group.

In line with, and in addition, to the full range of services we offer through our competitiveness consulting work (click here to learn more about our competitiveness services), we also offer specific services that facilitate the successful internationalization of PSFs which often involves the resources of our affiliated offices in over 50 countries worldwide (click here to see our worldwide office network).

Any type of internationalization presents risks due to the lack of local knowledge foreign firms have about a new market and in particular for PSF’s, the business and regulatory environment which can differ substantially from what a PSF is used to in their domestic market. Additionally, given the restrictions placed on law and accountancy firms especially, it is often necessary to find a local partner to be able to operate in a certain locale. This is one of the most problematic areas since research shows that over 50% of alliances are unsuccessful. With our affiliated office network, we have people on the ground who are familiar with the local business, regulatory and competitive conditions.

The services we offer in addition to our competitiveness services in this area include:

• Market profiling, assessment, and analysis
• Entry strategy and risk analysis
• Business environment analysis including key regulatory, economic and market conditions
• Partner identification, screening, and contact
• Alliance strategy, planning, and implementation
• Marketing strategy and planning
• New business development and launch
• On going growth support and practice development

Internationalization is one of the key ways PSFs (particularly small and medium sized practices-SMPs) can grow and prosper and most government bodies actively promote the expansion of SMPs through international marketing efforts because they realize that SMPs are the lifeblood of an economy and account for the majority of employment in the private sector. However, statistically speaking only a small number of SMPs are actively involved in some form of international marketing. Research by the United Nations and other similar bodies’ show that the 3 primary reasons that SMEs do not explore exporting and other forms of internationalization are:

1. Lack of entrepreneurial, managerial and marketing skills
2. Bureaucracy and red tape
3. Lack of accessibility to information and knowledge

While we help PSFs of all sizes explore international markets, our cost effective approach and worldwide office network is of particular value to the many SMPs.