Useful information
For the ELAN report, commissioned by the European Commission in 2005, 200 SMEs which between them export to 29 European countries were asked about their strategy on foreign language knowledge and intercultural skills.
Their replies were compared to those of 30 multinational companies to see how their respective strategies differed.
It became clear that 11% of these SMEs risked losing out on business because of inadequate foreign language cover. The correlation between a good knowledge of foreign languages and business success was established. Furthermore, SMEs which export are for various reasons more productive than those which do not: their technical know-how is more up-to-date, they know their markets better, can cut costs and are more efficient.
To export successfully, four factors count:
- a strategic approach to multilingualism
- recruiting native speakers
- hiring staff with foreign language skills
- using translators and interpreters.
Doing the sums: a company investing in these four areas has a turnover 44.5% higher than one which does not.