Africa, Worth Investing But With Proper Strategy

invest-africaAfrica is a goldmine for foreign investors and there are massive growth opportunities for companies in the region. The whole continent needs development projects to be initiated, infra-structure to be built and training programs to be organized for more skilled labors. But if compared with other countries, Africa’s share of manufactured goods in the global markets is just an 11% compared to a 31% for east Asia, which is quite low. According to Carlos Lopes, the executive secretary of the United Nation Economic Commission for Africa (ECA), this global share of manufactured goods from Africa can be increased up to a 20% of GDP. With its developing economy, Africa has the room for any number of foreign investors. In the past few years, after the recent oil discoveries in many African countries, a hundred thousand jobs have been created in the region. The boom in industrial zone has also raised the demand for French translators, Portuguese translators and Chinese translators. 

It is not easy to set up a new business anywhere. But to do so in a foreign environment is even more difficult. Foreign investors often show haste in setting up their companies in Africa which results in disaster and a huge financial setback. They witness other companies thriving in the region and presume that due to its development needs, any new business will flourish in Africa. But this is not true. A few factors must be kept in mind before an investor decides about investing in Africa. You must begin by contacting a qualified translation agency which would help you bridge the language barriers you are going to face in a new country. Several good translation companies are doing a remarkable job in negotiable rates. Houston translation service company and New York translation services company are among those few reputable translation firms.

Tips on how to make your business flourish in Africa

When you enter a new market, you must know that the tips and strategies which you followed to establish your company in your own country, could not prove to be useful in a foreign atmosphere, with a few exceptions. African people work with those whom they can trust and the key to run a successful enterprise in the region is to develop business relationships with proper planning. The business community in Africa is of the view that conducting business in Africa might prove to be an arduous task. For good business relationships in the African community, collaboration with local partners is necessary. Your local partners would know the “ins and outs” of running a company in their own country and would likely have the proper connections which you would need as a new investor in the market. Here again comes the necessity of hiring the services of a good translation company which would arrange translators for you according to your need. Usually French, Arabic, Portuguese and English are the official languages in African countries. The translation company you would hire will arrange the translators/interpreters according to your needs.

Inaccurate data is also another factor which leads to the failure of a business. It is not prudent to rely on others to collect data for you or to depend on figures available on the internet. Before initiating anything, you must survey the country yourself and the potential it has, for satisfactory growth of a company. It may feel costly to run an initial market research, but it is going to save a lot of trouble and will minimize the percentage of risk.

It is also very important to set up a website of your company on the internet with key features of the company mentioned. The site should also mention the names and contact numbers of the executives of the company. Business cards can go a long way in establishing a relationship of trust and good rapport with the local community. The top officials of the company should always be available for face to face interactions. All channels for communication should be used, including phone, internet, fax and postal services. You must understand that people like to do business dealings with those, whom they can trust and rely upon. All communication should be done with a consideration for the local customs and traditions of the public. Constant communication would be fruitful only if both parties would be able to understand each other. To hire translators should be among your top priorities when setting up business. Any investment should be done with the intention of improving the situation of the local African man and to create job opportunities for him, in order to keep the interest of the local community intact in your company.

Globalization, Cultural Conflicts and Language Translators

Global-Village-World-PeaceGlobalization has been defined from economic, political and social perspectives by different scholars. It generally means “available goods and services, or social and cultural influences, gradually becoming similar in all parts of the world.” Cultural exchanges have taken place over the past, as a result of cross-cultural interactions. Spices, tea and herbal concoctions found their way to Europe from China and Asia. Similarly Westerners introduced modern weaponry, modern medicine and things as mundane as bread, cheese and chocolates to the Far East on their voyages. But due to the advancement in technology, cultural interdependency is increasing day by day and the future holds a promise of even greater cultural connectivity. The world has now become a “Global Village” where societies rely on professional translation services and cannot live in isolation. Their mutual interests bring them together. The question arises: Why societies are interconnected more so than ever and what brings them in close contact with each other? Many factors have contributed to develop this cultural interdependency. Fastest means of traveling, expansion of world trade, multitudes of international companies and improvements in telecommunication have resulted in what we call “Globalization.”

How to avoid cultural conflicts

The increasing inter-connectivity of cultures being established, it is now important to understand its ramifications. Dealing with people belonging to other cultures is bound to arise some conflicts. Confucius thinks that human beings have a common nature universally but “habits and customs keep them apart.”  As human beings, it is hard to accept other people’s customs and beliefs because they appear alien to us. This reaction is quite natural. But a global citizen needs to be more open and accepting than the people of the past. In our educational institutions, at our workplaces, in markets and other social settings, we run into people belonging to other cultures,speaking different languages and having different social etiquette than ours. Our first reaction is to become judgmental. Anything which is alien is unacceptable for human nature. To have a surface level knowledge of other cultures is important for every individual in the world. But people who have cross-cultural dealings on a regular basis need to have a deep knowledge of the customs of other cultures,which would develop an attitude of acceptance towards others in them.

Integrated efforts—a step towards the solution of Global Threats

In the modern world, different nations not only have mutual political and economic interests with each other, they are also facing common threats like international terrorism, environmental changes and rapid increase in world population. Epidemics when break out in one part of the world become a threat for other countries as well, not to mention fatal diseases caused by viruses like AIDS and Hepatitis-C.  Combating against these threats requires coordinated efforts and mutually devised strategies. These huge challenges faced by humanity cannot be overcome by individual efforts of nations. In today’s world human beings need to set aside cultural differences. Working together on a global scale, can be the first step towards resolving these magnanimous issues.

Role of language translators in the modern world

Language translators working for various translation companies such as The Marketing Analysts Translation Service, interact with different people across the border. Their job requires a high level of tolerance for other cultures. Developing amiable work relationships can help create an atmosphere of mutual respect and tolerance across the world. Translators and interpreters can serve as links between different cultures. Whenever international companies set themselves up in foreign cultures, they require the aid of translators to communicate with the local populace. This has increased the demand for translators tenfold. French translators, German translators, Arabic, Spanish and Portuguese translators are needed to interact in the oil producing African countries which used to be French, Portuguese and Spanish colonies. This need has arisen due to the ever-increasing interest in the exploration of new resources.

It is our responsibility as peace-loving inhabitants of this planet, to play our role collectively in making this world a better and safer place to live in. The key to this goal is to cast away our cultural differences. Resisting the cultural interdependency of today’s world can lead to disaster.