Updated: Jan 30, 2019
Businesses in Iceland
There are many major Icelandic industries which have observed various changes in the last decades with the growing global interest in geothermal power and its opportunities. The country’s geographical location and significant natural resources have been supporting factors in the growth of new and more practical ways of controlling and using geothermal energy. The Icelandic fish has been examined the nations most valued asset for hundreds of years, and with new technology, this phase of Icelandic businesses has also improved though it remains managed and regulated to prevent overfishing.
Icelandic fish continues to be the top exported product, but another important source is the wool provided by the Icelandic sheep. Iceland's rough environment has given a unique breed of sheep which through the ages has produced some of the most excellent wool coatings noticed in colder climates. This wool is becoming a valuable character of the Icelandic economy as it is run into a myriad of wool garments and textiles.
Ultimately, Icelanders have recently become informed of the various business opportunities for tourism. Tourism in Iceland has since grown considerably with tour businesses offering tours to see Iceland's natural wonders with exceptional personal service. Here are you will get a list of companies in Iceland working in the country’s key companies: fishing and fish processing, hydro and geothermal power, Tourism and wool.
US-Icelandic Business Relations
The US has been one of Iceland´s very powerful trading partners. In 2006, the exports and imports to and from Iceland and the US considered for 8,4% and 9,3% respectively of total exports/imports. US investment in Iceland has regularly been increasing and amounted in 2004 to 31,4% of the total foreign investment.
Iceland's business environment is competing with leading nations in the industrial system. With its low tax arrangement, high learning levels and competitive prices for experienced labor, land, and power, Iceland is a strong competitor for businesses to short-list when seeking new places for international operations.
Translate Icelandic to English
Icelandic is a Germanic language bearing some relation to Norwegian, Danish, and Swedish. There are around 320,000 native speakers based in Iceland, and pockets of Icelandic speakers can also be found in the US, Canada, and Denmark.
Icelandic to English translation is required for everything from business documents to personal papers to academic reports. In a global economy, chances are you do business with English-speaking market or industry – or will soon. Business requires speed and responsiveness – your customers won’t wait too long before seeking out a competitor, so you need to translate Icelandic to English in a hurry.
Businesses Need to Translate Icelandic to English for the following reasons:
• Better communication with customers: If your Icelandic company calls for interacting directly with the global customers and clients then you must’ve faced a lot of people who do not speak Icelandic. You can market your products to a much broader spectrum of the audience if you could talk to them in their (English) language.
• Enhance brand visibility: A lot of abilities tests a company's brand potential. Reaching out to more people is one of them. You require crossing the barrier of language to create an image in the international market, and that is likely only with professional translation services.
• More job possibilities: Several people are excited about learning different languages. Nothing can be better if they can learn and earn at the same time. Any business, small or big, hires English translators and interpreters to not only facilitate their business communication with other nations but also for marketing and project coordination.
• Drafting legal documents: Understanding legal documents itself is an uphill task, and if it’s in the Icelandic language then it gets all the more complicated. One slip-off and the meaning of the sentence changes completely. Professional Icelandic English translators assure accurate and easy interpretation of legal documents aligned to the professional needs of lawyers, court stenographers, attorneys, judges, and other legal professionals.
Thus, to be successful and maintain that success consistently, it is essential to adhere to the ongoing trends internationally. The new trend suggests businesses incorporate translation services in all their dealings with different language areas be it domestic or abroad. It provides a strong base and is one of the reasons for the companies to achieve sky-rocketed profit rate.