The Global Growth Institute, a leadership development organisation based in Paddington, has won a new contract with the Mongolian higher education organisation, the Guren Graduate Institute, with the support of the Department for International Trade (DIT).
The business runs a series of training courses to help develop businesses, skills, people management and teamwork, and the new contract will see them providing training courses for over 1000 managers in Mongolia.
The win is set to increase annual turnover by 25%. As a result of the latest contract, the firm now has plans to explore other overseas markets including Turkey, Hong Kong, India, the United States and South Africa.
Wayne Clarke, founding partner, The Global Growth Institute, said: “We now operate in 18 countries, focusing our export strategy on economies where there is not only a thirst, but a need. Mongolia is a great example of such a market. Having a population of three million spread over a landmass six times that of the UK, bringing people to together to run a training course is near impossible. We saw the opportunity, and went for it.
“Our ambition is to make an impact across entire economies, and use skills development as a way to influence countries’ GDP through improvements to how teams work, from small, local companies to larger companies with multinational operating models.
“Exporting has given us the opportunity to achieve these ambitions and grow and develop our business, and our experience so far has only been positive. The guidance we received from our International Trade Adviser at DIT and the introduction to the UK’s Ambassador to Mongolia were instrumental to our success in this country. If we can make these ambitions a reality, so can other firms looking to work with organisations overseas.
“My top tip to those thinking about exporting is to keep an open mind, as the most obvious markets might not be the easiest to crack, or the most successful for your business. Ultimately, be brave, and do it now!”
Parveen Thornhill, Regional Director for London at the Department for International Trade, said: “As the world becomes ever more globalised and digital, the potential for businesses to reach out to new customers and lucrative new markets beyond the UK has never been greater. Mongolia’s government currently has a particular focus on growing the financial services sector, creating the need to invest in the development of companies in this field.”