In our current tricky economic situation it’s necessary to watch out and find an effective way to keeping your business safe and if possible, make it boom. Here are some examples of recent business initiatives:

Price cut. This is the most conventional route. Take Sainsbury’s for example, they now stock a mixture of high-end goods as well as produce at very competitive prices. Price cutting is an obvious choice but do remember that your customers (who share in these economic struggles) will still expect the same quality even if they are paying less.

Sell on demand. Take a look at Unbound’s novel idea in Britain. This system of raising funds to publish books aims at lowering the level of investment. Although the book business is still in demand, neither the editors nor the authors are making enough to cover their expenses and make a profit. As a result, no one is making money! Visitors enter their websites to pledge money for a book that is only part-written. The book then gets published based on the funds raised for the writer to complete the book, reducing the necessary level of investment.

Lateral thinking. The Summer season usually hits hard on domestic spending because the Brits love going abroad. This year is even worse with the faltering economy. Observe Selfridges, one of UK’s biggest department stores: it has taken the route of launching Christmas shopping during summer. You may grin at this but in fact summer is the peak season for visiting tourists and many find this amusing and amazing. Selfridges is expecting a growth in their sales by 10% this financial year.

At SanTranslate, we have worked with customers from different spectrums. Some are tight on budget, some are testing the water, others are seeking opportunities in risky periods much like the one we’re in. Whichever type you belong to, one thing for sure is that you will receive all the help you can get from SanTranslate, your professional translation provider.

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