Three Vital Steps for UK SMEs Looking to Enter the German Market
With its resilient economy, strong domestic consumer market and the fact that it is just one hour from the UK by air, there are many reasons why UK businesses can benefit from trading in Germany.
However, as the largest economy in Europe and the fourth strongest economy in the world, the German market is extremely competitive and requires persistence and expert guidance if UK companies are to successfully achieve traction in this market.
Thim Werner, of Cologne-based Business Development Germany (BDG), specialises in helping foreign businesses to understand the different cultural nuances and negotiate the bureaucratic hurdles that are vital for companies attempting to win business in the country.
Thim says, “Starting a business in Germany is no easy task for a foreign company. Whilst Germany hosts 65% of the world’s international trade fairs, launching at these shows can prove to be an expensive and fruitless endeavour, as it’s extremely difficult to stand out from the competition at large scale events.
“As German market experts, we advise businesses of all sizes on how to successfully enter the Europe’s leading market. To share our expertise, here are three steps that must be taken by any UK business launching in Germany:”
- Planning and market research in advance is essential. Conduct a SWOT analysis of your product or service to assess its feasibility for success in the German market and prepare a market entry business-plan. Such a business-plan is mandatory when talking to banks or applying for benefits with German authorities.
- Develop a specific and strategic concept for the perfect implementation of your product or business idea. Pay heed to Germany’s distinctive business etiquette, this is crucial when trying to build a positive reputation and new business in the country.
- For long-term success, businesses must ensure continuous quality control. Our experts can help at all three of these stages, offering the know-how on how to break into and cater for the demands of the German market in order to achieve long-term success.
BDG supports companies with their entry into the German market and provides instant access to all the necessary know-how and expertise required to succeed in this attractive but demanding market.
BDG’s core focus is on the sales and marketing success of its clients and has a proven, pragmatic and success-oriented approach. Acting as a single point of contact for the German market, BDG coordinates all relevant measures and services on behalf of UK businesses. For further information call +49 (0) 221 64 00 90 80.