Provide you want to get your business out of the survival mode and see it among the enterprises which are thriving in today’s trade-war-devastated world, all you have to do is to hire a lobbying firm. Such firms have the potential to take your business from its infancy and turn it into an impregnable force.
Therefore, whether you’re just starting your business in Africa – or have it already well-settled in one of the countries but want to expand its operations to the other nations – following are some of the ways lobbying firms help business in Africa.
1. Cut the red tape
According to research, federal regulations cost the US economy over $1.9million in 2017. Africa isn’t any different as here too bureaucratic regulations impede the growth of businesses. However, if you have a lobbying firm representing your interests, you can cut the red tape and get approvals, grants and licenses in no time.
Lobbyists can do that because they have the ear of policymakers. They use these connections to make sure that the interests of their client (your business) remain well-protected.
3. Get good publicity for your business
Regardless of how many ads you run promoting the products/services of your business, most people won’t trust them. That’s because consumers value third party opinion more than the word of the business owner.
That’s exactly what lobbying firms provide. They let your business get credibility by getting its message across via authentic, independent people who have no connection to it. Consequently, people are more likely to ‘buy’ their message and trust your enterprise.
3. Secure your business’s interests
As stated earlier, lobbyists have the ear of policymakers. These person craft policies which have the potential to either take your enterprise’s profits to the sky – or bury them in the ground. It means that you’d never want to be on their wrong side.
Luckily for your business, lobbying firms make sure of that. By projecting to the policymakers (who are elected politicians, in most cases) that your business is benefiting their voters directly (by providing jobs) and indirectly (by churning out quality products/services), lobbyists ensure that your business always remains in the good books of the policymakers.
4. Build a strong local network
No business can even think of thriving unless its owners know the successful practices its competitors have adopted to increase their profits. For that purpose, you need to be a part of a strong local network to make sure you remain updated on the times.
Lobbyists, with their deep-rooted local connections, know people who matter in your circle. As you hire them, lobbyists would make sure that those very people know you as well. You can use this help to build local connections which will prove beneficial for your business’s health in the long-term.
5. Help your business get credit on easy terms
Whether you want to start a new business or expand an existing one, you always need capital. In a developing continent like Africa, capital is in the hands of government-financed banks. Therefore, if you want to get credit on easy terms, you need to be on good terms with the government.
Even if you don’t ask for it, it’s the major part of a lobbyist’s job to ameliorate their client’s relations with the government. As they do that, you can leverage your newfound contacts with those in power to get easier access to capital – which you can then use to streamline your enterprise’s operations.
As the trade-wars rumble on, it is becoming increasingly difficult for businesses to expand their services in Africa or elsewhere. The only choice which enterprises have is to go back to the drawing board and implement strategies that have worked before. And lobbying is a strategy which has never backfired – which is why we recommend that you give it a go. Provide you can get yourself a professional firm, the results will exceed your expectations.