Are you enjoying your business’ profit run in your country? Is cross border expansion on the cards? Tapping into the European market place’s potential can strategically place you as the go-to brand here.
Here is our take on why you should internationalize in Europe.
If yours is a product-based company, Europe’s population of 740 million individuals can be your potential customers. The general mindset with Europeans is one that looks for quality over cost. Therefore, if you can promise an unmatched quality with your products and market it effectively, you can look forward to an exponential increase in sales.
Imports are an important part of how Europeans buy – so much so that imports were on a rise even during the Eurozone recession. With Europeans looking forward to improved growth during the next decade, the time is opportune for you to bring your product-based business to Europe.
Countries like Germany and others in the UK and Scandinavian region are projected to lead this demand for new and high-quality products, with Mediterranean countries like Spain and Italy also showing a piqued interest in imported products. Another promising group of countries that has tremendous potential is Poland, the Czech Republic and Hungary which are populated with a young workforce that will appreciate imported ware.
2. First move advantage
Countries in Eastern Europe are faced with a service-and-product gap that is otherwise well-used in the more developed parts of Europe. If your business manages to capitalize on this gap and make the first or best move to these zones, you will have a clear advantage over the latecomers as a trusted brand for a particular product or service.
3. Tech hubs
Europe’s tech scene is a thriving and exciting place to be in for startups with several companies raising the bar for innovation with newer and faster services. Clearly, the continent loves to embrace technology that makes life more convenient for them, especially if the development is in the healthcare and environmental sectors. In fact, tech companies in these spaces have special hubs in the Scandinavian capitals and cities in the Netherlands and Belgium. If you manage to navigate through the legislative complexities, you can enjoy a boost from Europe’s grants, workforce and tech hubs.
Europe’s VC growth is seeing unprecedented growth with strong investments coming in from all corners and well-developed incubators designed to help startups scale. If your market research shows a clear demand for your products or services in Europe, you can place a sure foot forward into a business landscape that will allow you to prosper. In fact, several startups in Europe have caught the eyes of tech giants the likes of Apple and Google to be acquired for millions of dollars.
Whether you are a startup or an already established company, entering the European business can be as rewarding as it can be challenging. This is where Markets and Partners come in. Our expertise lies in performing market research, business analytics, and several other consultation services that will propel your growth in the right direction without hindering it with legal complexities. Get in touch with us to know more about our services.