Addmaster Featured in Growing Business Report
Fear often seems to be the major issue holding entrepreneurs back from entering a new market. This is, of course, understandable, but overseas business is for the brave, so you’ll need to find a way to cast your worries aside.
Remember the thrill of starting up your first business? Consider this new period of growth in a similar vein.
“If I look back about 10 years, I think I was frightened about doing business abroad,” says Paul Morris, founder of Addmaster, which produces plastic additives. Its main product, Biomaster, makes plastics safer and more germ resistant, and the company outsources its manufacturing to businesses in the UK.
However, Morris has applied this hands-off approach to other parts of the company and this has enabled him to expand rapidly. “Entrepreneurs often want to be control freaks. By outsourcing our manufacturing, we have learned to take [a hands off] approach all through our business,” he says.
First, you need to assess whether you are really in a position to expand abroad, as it can be a risky and time-consuming venture. If your business is strong in the UK and your cash position is reasonably stable, then you are probably ready.
Typically, businesses that succeed overseas have done well at home first. Addmaster came to the attention of overseas clients, as it was already performing well in the UK and had major buyers, such as the NHS, on its books.
“We didn’t set up thinking about going further afield. We set up with a view to creating a range of products that would stand out in the UK market,” says Morris.
To view the full article click on the link below
Source - Growing Business
http://www.growingbusiness.co.uk/doing-business-overseas-2010.html
Addmaster is Europe's leading supplier of performance additives for a wide range of applications and industries. By working in partnership with its customers and focussing on research and development, highly innovative additives have been created and successfully introduced into many manufacturing environments. Addmaster's advanced products are being used by many of the world's industry leaders in the plastics, paper, paint, textile and coating industries.Addmaster, founded in the year 2000, sees its major objective as capitalising on the lack of innovation which exists in these industry sectors, and has won many business awards for innovations in product development and marketing.
