Evolve UK – Construction Business Risk in Ireland & the UK post Brexit

Enterprise Ireland, Blake Morgan and LK Shields invite you to this unique Brexit webinar which will discuss the legal ramifications of Brexit for the UK and Irish construction markets.

The discussion will also include the economic and legal impacts of a “no deal” Brexit on the construction sector as well as commentary on the current state of negotiations.

The event will feature

Anne Corr, Construction Market Advisor for Enterprise Ireland.

Richard Wade, Partner & Head of Construction at UK law firm Blake Morgan

Jamie Ritchie, Partner in the Projects and Construction Team at Irish law firm LK Shields

 

Click below to register

Evolve UK  Report – Local Authority Investment Areas and the impact of Covid-19

The UK remains the largest export market for indigenous Irish companies. A new focus for Enterprise Ireland in the UK is to support Irish companies looking to enter the UK Local Authorities space.

This report, commissioned by Enterprise Ireland provides an overview of UK Local Authorities to help inform Irish companies of their structure and procurement processes.

Click the below image to view or download the complete report.

 

Evolve UK  Report – UK Local Authority Report: An Overview

The UK remains the largest export market for indigenous Irish companies.

A new focus for Enterprise Ireland in the UK is to support Irish companies looking to enter the UK Local Authorities space.

This report examines:

Where the requirements are

Who makes the decisions

What is the purchasing process

In short how do you sell to the local authority market. As with any sales process it starts with really knowing and understanding your customer. Read the below report to learn more.

 

Enterprise Ireland’s top tips for entering the Finnish and Nordic markets

 

Finland adds appeal to Irish businesses who want to scale, and develop a presence within their sector overseas.

If you are considering doing business in Finland, the ten tips below will help aid you entering the market, as will our Nordics Team – located in both Stockholm & Copenhagen.

  • Finland has an increasingly elderly population and is constantly looking for healthcare solutions, new talent & the creation of new jobs.
  • The highest areas for growth and innovation in Finland are, Healthcare, marine industry, bioeconomy, energy, cleantech and environmental solutions
  • Finland is almost 1,200 km long and only contains 5.5 million people, most of whom are in the South. Most headquarters are in the capital city region of Helsinki, Espoo & Vantaa. Other business hubs are Tampere and Turku.
  • Finland has a high level of English, but don’t be fooled – this isn’t because Finnish is similar to English. Finnish is one of the hardest languages to learn in the world so if your product or service needs to be translated you may require a local partner or a team of translators. Swedish is the second official language of Finland, so certain products, such as food items, may require both.

The Nordics are a highly advanced region which rewards high quality and innovative solutions. These countries are familiar with collaboration and partnerships and often look globally to ensure that they have the best innovations on offer.

  1. Nordic business culture is based on equality, efficiency, modesty and punctuality.
  2. The Nordics are a hub for innovation – with more and more unicorns coming from the Nordics every year, the Nordics are home to some of the largest ICT & MedTech hubs in Europe.
  3. Business decisions take longer – generally, the Nordic countries operate on a consensus approach to business decisions and have flat organizational structures.
  4. If you plan on being in the Nordics long term, setting up an office in-market is necessary – as is localizing offerings (e.g. offering in local language)
  5. The Nordics are a detail-oriented market – make sure that you have the required accreditations & certificates and all specs of your product memorised, as you will need answers ready for highly-detailed questions (including any worst-case scenarios).
  6. Wait for an answer – People in the Nordics think carefully about what they are going to say before they say it, giving them their reputation as being ‘reserved’. They are comfortable with long silences and often speak only when there’s something worth saying, meaning you must give them a longer time to respond.
  7. References are required – having customer stories from within the Nordic region or from the U.S. will help gain trust and credibility from potential customers.
  8. Long-lasting Relationships – while it is a long process to build a trusting relationship, Nordic companies are usually in it for ‘the long-haul’ and are unlikely to change provider unless necessary.
  9. Highly Regulated – regulations across all sectors are among the strictest in Europe and often have higher expectations than the European Union in general.
  10. The environmental impact of business – the Nordics is a very environmentally aware market and environmental impact is something that many companies consider when entering new relationships and may set you apart from the competition.

Sweden

  • As the 5th largest country in Europe, Sweden is drastically different in the North and South with different innovation hubs scattered throughout the country. Where is best for your offering is something that should be considered.
  • Many Swedes go on an extended holiday during July, meaning that generally no new business is conducted from the 21st of June (‘Midsommar’) until the middle of August.
  • Planning is essential to Swedes, so make sure to plan to meet before your arrangements for travelling.

Denmark

  • Denmark is home to Medicon Valley the largest Lifesciences hub in Europe – second only to Silicon Valley in the world.
  • Denmark is a world leader in Life sciences, cleantech and digitalization.
  • Denmark is a rich, modern and design-focused country with a highly educated and critical population who are amongst the fastest to adopt new products/technologies
  • The Nordics are known for high levels of employee protection, however, in Denmark, they operate on a ‘flexicurity’ model, where it is relatively easy to hire or fire someone, but they have a high level of social protection.

Norway

  • Norway is not a member of the European Union but is part of the Inner Market through the EEA agreement
  • Norwegians often disregard titles and symbols of power as they operate with flat structures and informal communication.
  • Family comes first so afternoons and Fridays are very difficult to get a meeting as even senior management cuts their days short if they need to pick up children or be with their family.
  • Most of the population is in Oslo, Bergen, Stavanger and Trondheim, with the North of Norway being sparsely populated.
  • Distributors and agents are the most popular entry method into Norway – one must be careful to ensure their distributor can give focus and dedication to your product/service.

Enterprise Ireland is committed to helping Irish firms succeed in global markets and have industry experts on hand, ready to help you access the Nordic markets.

Enterprise Ireland’s top tips for entering the Australian market

Australia has one of the strongest and most open economies in the world

If you are considering doing business in Australia, please explore our top tips to enter the market below and also be sure to reach out to our team in Australia.

  • Australia has one of the strongest, most competitive and open economies in the world. Historically seen as suffering from its remoteness from Europe, today Australia benefits from its strategic location on the doorstep of Asia.
  • As Australia’s economy has developed, it has put a greater emphasis on professional services and technology. Telecoms, financial services, education and scientific and technical services all constitute an increasing share of the Australian economy.
  • The Australian Government is developing a national Technology Investment Roadmap that will drive investment in low emissions technologies to strengthen the economy and support jobs and businesses. This is a key priority on the road to recovery from COVID-19 and provides opportunities for innovative offerings in the energy sector.
  • Australia is the third most popular destination in the world for foreign students enrolled in higher education and has the third-highest number of universities in the world’s top 100.
  • Significant infrastructural investments in telecommunications and transport infrastructure are underway by state and local government.
  • One of the biggest challenges for Irish companies is how to service customers 15,000 km away. In most cases, a local presence should be established, or partner secured, as directly servicing the market from Ireland is difficult in most industries. Companies should be prepared to invest time to come to the market to meet with possible partners before selecting a company which is the best fit.
  • Irish businesses should have little difficulty traversing cultural barriers in Australia.
  • The Australian egalitarian approach to life is reflected in its business culture and can be seen in both corporate structures and communication style. Australians can be quite direct and matter of fact in their tone and prefer if this approach is reciprocated
  • Hiring someone with industry knowledge can be an excellent way to build a presence. Companies should take a hands-on approach to onboarding and supporting their hire as the time difference can leave them isolated from the wider organisation.
  • Avoid visits to market from mid-December to the end of January as these are prime holiday times. Be aware the Australian financial year runs from 1st July to 30th June and therefore many key decisions are made between mid-May and mid-July.
  • Australia’s highly-skilled workforce and business-friendly policies have led to a growing tech ecosystem and is ranked 1st globally for technological readiness.
  • The Asia-Pacific region is the fastest-growing region in the world for financial technology with Sydney and Melbourne acting as financial hubs for the wider Asian-Pacific region. This makes Australia and attractive market for fintech businesses.

For more be sure to check out our Going Global Guide 

Key questions to ask at your UK Market Advisor meeting

Enterprise Ireland is playing a key role in supporting ambitious companies seeking opportunities in the UK.

If you are considering doing business in the UK, please be sure to reach out to our team in London.

  • What are the associations and organisations I should be speaking to in the UK?
  • Who are the key stakeholders in my sector in the UK?
  • What are the major considerations for buyers in my sector in the UK beyond price?
  • How do I need to present my company in the UK to challenge domestic competition in the market?
  • Who are the potential competitors for my business in the market? How strong is their foothold in the market?
  • What are the differences between how my sector operates in Ireland vs the UK?
  • What is the post-Brexit outlook in the sector?
  • How are Irish companies viewed in the UK?
  • What are the benefits of a UK based office? virtual or physical?
  • What do I need to do to set up a UK registered company?
  • What are the key sources of UK market information in my sector?
  • What supports can Enterprise Ireland UK provide in the market?

For more, please reach out to the MA here and be sure to check out our Going Global Guide

Key questions to ask at your Singaporean Market Advisor meeting

Singapore, the gateway to SE Asia, is the regional business hub for ASEAN and the wider Asia Pacific region, providing stability and highly educated workforce, making it the perfect location to create a base.

If you are considering doing business in Singapore, please be sure to explore our top tips to enter the market below and also be sure to reach out to our team in Singapore

  • What are the core sectors and what sectors should I avoid?
  • Will I need a local partner company?
  • What kind of obstacles should I expect when entering Singapore?
  • What local competitors are active in this market?
  • What social norms should I be cognizant of when engaging in meetings with local people?
  • Will I need to set up an office in the region?
  • Will I need to hire local staff?
  • Can I relocate Irish staff in this region?

For more, please reach out to the Singapore region MA here and be sure to check out our Going Global Guide 

If you would like to know what to prepare ahead of your first MA call, click the graphic below

Enterprise Ireland’s top tips for entering the Singaporean market

Singapore, the gateway to SE Asia, is the regional business hub for ASEAN and the wider Asia Pacific region, providing stability and highly educated workforce, making it the perfect location to create a base.

If you are considering doing business in Singapore, please be sure to explore our top tips to enter the market below and also be sure to reach out to our team in Singapore

  • Singapore’s English dominated business environment and business-friendly legal and tax systems give Irish companies at every stage of development the opportunity to establish a business presence in Singapore at relatively low risk.
  • Singapore’s highly-educated workforce, political stability, excellent air transport links, developed infrastructure, transparency in business operations and Western business practices mean that many companies adopt a “hub and spoke” approach, using Singapore as a base from which to access opportunities in neighbouring markets.
  • Singapore’s business language is English and it is spoken throughout the island among all ethnic groups.
  • Singapore has the highest per capita spend on healthcare in ASEAN, which averages 4% of GDP, and this is expected to increase annually as the Government seeks to invest in quality healthcare infrastructure and services making it an attractive market for medical device and life science companies.
  • Singapore is seeing increased activity in the Life science sector. There are opportunities for client companies currently selling into the pharma and medical device supply chain in Ireland as many of the same global multinationals also have strong presences in Singapore e.g. Roche, Pfizer, GSK.
  • Singapore is a top-three global financial centre and therefore a key market for companies involved in financial services and fintech. Key activities include FX, wealth management, commodities trading, hedge funds & treasury.
  • There are over 210 banks and approx 1200 Financial Institutions registered in Singapore. Notable changes in the financial sector include the liberalisation of the banking market with the awarding of five digital banking licences in December 2020; the launch of the Variable Capital Company as an entity for new investment funds in Singapore, and the embrace of fintech and automation by the sector in enhancing competitiveness and innovation.
  • Punctuality is a sign of respect in Singapore. It is best to inform your Singaporean counterpart if you will be late.
  • Modesty and humility are key values in Singapore, therefore it is important not to “oversell” during initial meetings with Singaporean counterparts.
  • The decision-making process in Singapore is done collectively and up through the hierarchy, and therefore it may take more time than you are used to.
  • Over 200 Irish firms are already active in this market thanks to EI assistance, contact the local MA here.

For more be sure to check out our Going Global Guide 

If you would like to know what to prepare ahead of your first MA call, click the graphic below

Key questions to ask at your Malaysian Market Advisor meeting

As Brexit plans progress, Irish businesses are exploring export options in sectors across the Eurozone markets, the USA and Canada and the APAC region.

Enterprise Ireland is playing a key role in supporting ambitious companies seeking opportunities in Malaysia’s IoT, telecoms and fintech sectors.

If you are considering doing business in Malaysia, please be sure to explore our tips to enter the market below and also be sure to reach out to our dedicated team.

  • When scheduling meetings in Malaysia it is best to do so at least four weeks in advance. Malaysian counterparts will want to know who they will be meeting, and you should provide such details as the titles, positions and responsibilities of all attendees in advance.
  • Due to its predominantly Muslim population, Friday is reserved for prayer and it is advised not to schedule meetings on this day.
  • Schedules are usually loose and flexible and meetings may start late. However, Malaysians generally expect foreign visitors to be punctual.
  • Developing trusting, personal relationships is fundamental to winning long-term business in Malaysia. For this reason, Irish companies must consider setting up a local presence at an early stage or engaging a local partner to manage relationships.
  • Malay-owned companies have historically been given preference in Malaysia by the Government for state contracts. Irish companies may need to consider joint venture structures in some sectors for this reason.
  • If you are planning to do business in Malaysia, it is essential to consult a lawyer. Government restrictions can hamper foreign involvement in several areas, including Government procurement contracts, financial, business and professional services and telecommunications. In most cases, it is imperative to have a local partner, usually a Bumiputera, (a local person) who has the ability to provide locally-based technical support.
  • Kuala Lumpur has the most developed financial sector in the Southeast Asia region, after Singapore. It is known as one of the world’s capitals for Islamic finance. The main opportunity for Irish companies is to deliver efficiencies and add capability to institutions in the form of payments, anti-money laundering, regulatory tech, distributed ledgers and analytics. There is also an opportunity to deliver direct financial services, such as foreign exchange and micro-lending.
  • Malaysia continues to evolve as one of the hubs for medical device manufacturing in the region with over 200 manufacturing companies based in the country. Design and construction projects for high-tech manufacturing facilities for medical instruments and devices is one of the key opportunities for Enterprise Ireland client companies in Malaysia.
  • Malaysia’s telecommunications sector is competitive with the three largest mobile networks operators – Digi, Celcom Axiata and Maxis –holding over 75% of the market. Operators are looking for vendor solutions to strengthen their digital Value Added Services (VAS) suite of services and mobile apps in order to accelerate their transformation as fully-fledged ‘Digital Service’ companies.
  • Over 130 Irish firms are already active in this market thanks to EI assistance, contact the local MA here (hyperlink) and make sure you have read our Key Questions to Prepare ahead of your Market Advisor Meeting (hyperlink) sister article

For more be sure to check out our Going Global Guide 

If you would like to know what to prepare ahead of your first MA call, click the graphic below

Enterprise Ireland’s top tips for entering the Malaysian market

As Brexit plans progress, Irish businesses are exploring export options in sectors across the Eurozone markets, the USA and Canada and the APAC region.

Enterprise Ireland is playing a key role in supporting ambitious companies seeking opportunities in Malaysia’s IoT, telecoms and fintech sectors.

If you are considering doing business in Malaysia, please be sure to explore our tips to enter the market below and also be sure to reach out to our dedicated team.

  • When scheduling meetings in Malaysia it is best to do so at least four weeks in advance. Malaysian counterparts will want to know who they will be meeting, and you should provide such details as the titles, positions and responsibilities of all attendees in advance.
  • Due to its predominantly Muslim population, Friday is reserved for prayer and it is advised not to schedule meetings on this day.
  • Schedules are usually loose and flexible and meetings may start late. However, Malaysians generally expect foreign visitors to be punctual.
  • Developing trusting, personal relationships is fundamental to winning long-term business in Malaysia. For this reason, Irish companies must consider setting up a local presence at an early stage or engaging a local partner to manage relationships.
  • Malay-owned companies have historically been given preference in Malaysia by the Government for state contracts. Irish companies may need to consider joint venture structures in some sectors for this reason.
  • If you are planning to do business in Malaysia, it is essential to consult a lawyer. Government restrictions can hamper foreign involvement in several areas, including Government procurement contracts, financial, business and professional services and telecommunications. In most cases, it is imperative to have a local partner, usually a Bumiputera, (a local person) who has the ability to provide locally-based technical support.
  • Kuala Lumpur has the most developed financial sector in the Southeast Asia region, after Singapore. It is known as one of the world’s capitals for Islamic finance. The main opportunity for Irish companies is to deliver efficiencies and add capability to institutions in the form of payments, anti-money laundering, regulatory tech, distributed ledgers and analytics. There is also an opportunity to deliver direct financial services, such as foreign exchange and micro-lending.
  • Malaysia continues to evolve as one of the hubs for medical device manufacturing in the region with over 200 manufacturing companies based in the country. Design and construction projects for high-tech manufacturing facilities for medical instruments and devices is one of the key opportunities for Enterprise Ireland client companies in Malaysia.
  • Malaysia’s telecommunications sector is competitive with the three largest mobile networks operators – Digi, Celcom Axiata and Maxis –holding over 75% of the market. Operators are looking for vendor solutions to strengthen their digital Value Added Services (VAS) suite of services and mobile apps in order to accelerate their transformation as fully-fledged ‘Digital Service’ companies.
  • Over 130 Irish firms are already active in this market thanks to EI assistance, contact the local MA here

For more be sure to check out our Going Global Guide 

If you would like to know what to prepare ahead of your first MA call, click the graphic below

Key questions to ask at your Spanish and Portuguese Market Advisor meeting

The combined population of Spain and Portugal is more than 10 times that of Ireland, while Iberia’s landmass is 7 times larger than Ireland’s.

If you are considering doing business in Spain or Portugal, your first step should be a call with our dedicated team.

  • What do you need from me to move this forward? Enterprise Ireland works with clients who have the potential to make an impact, by connecting with buyers and finding opportunities in the market. Irish client companies play a great role in this process too. To make the most of your opportunities in the Spanish and Portuguese market, ask your MA what you can do to move the process forward and ensure success.
  • What kind of timeline are we working with? Different markets work on different timelines. Winning business in this market requires dedication over time; developing your relationship with a buyer in Spain or Portugal is as important as any business negotiation. Ask your MA what kind of timeline you should expect when entering this market. That way you can be prepared for the different steps and milestones in the process.
  • What should our buyer persona look like? Knowing who you want to sell to in this market is very important. It is essential to understand the dynamics of your target market. With the help of your MA, decipher what your buyer persona looks like and work to adapt your pitch to that persona. While this can vary within the market (especially in Spain’s autonomous regions), legitimate and specified buyer personas can be useful in identifying who to approach in market first.

Enterprise Ireland is committed to helping Irish firms succeed in global markets and have industry experts on hand, ready to help you access the Spanish market.

Our Market Advisors are always available to support you and provide business expertise and on-the-ground knowledge.

For more, download our Going Global Guide

Enterprise Ireland’s top tips for entering the Spanis and Portuguese markets can be viewed by clicking the graphic below.

Enterprise Ireland’s top tips for entering the Spanish and Portuguese markets

Historically pillars of trade, the Iberian nations of Spain and Portugal offer exceptional export opportunities to Irish companies

Home to the international powerhouses of Inditex, Banco Santander, BBVA, Ferrovial, and TAP (Transportes Aereos Portugueses), the purchasing power in this market, along with the cordial nature of the population, makes it a highly attractive export region. The team in Enterprise Ireland’s Madrid office are here to support you in entering this dynamic and growing market.

  • Do your research. The Spanish and Portuguese populations combined amass to more than 10 times that of Ireland, while Iberia’s landmass is 7 times larger than Ireland’s. With more people, comes more business and innovation, and thus more competition. Really get to know the market you’re entering, and who you’ll be competing with.
  • Create a great elevator pitch. Spanish and Portuguese businesses are more hierarchal in nature, and they like to work on equal terms, so make sure you are bringing your best to the table, as you can presume they are. A good elevator pitch that clearly explains who you are, what you do, and what you can offer is a great way of proving your interest and significance. First impressions and personal relationships are important here.
  • Have a summarised value proposition. This is a highly price-sensitive market. Being price competitive will open the door to a consumer base of more than 50 million. However, having a good USP and a clear value proposition will help you to find a successful gap in the market. There is great purchasing power in Spain and Portugal, but you must find a way for your company to tap into it.
  • Be aware of your distribution channel. If you intend to export to, or scale in this market, know how you will make that happen. Consider the steps that must be taken between your product/service in Ireland and your customer in Spain or Portugal. Assess the potential hurdles in providing your good or service to this market.
  • You and/or your product need to speak the local language. Overcoming language barriers can be one of the most difficult aspects of exporting to this market. English levels vary significantly geographically and by sector. Having a trusted translator may be necessary for meetings and correspondence, which EI Madrid can help you with. More practically, your product itself must be accessible to the population you are selling to; an app that functions solely in English will not succeed in the wider population.
  • Assess your resources. How can you make the most of the human and financial capital that you have? With a good business team and the backing of Enterprise Ireland, at home and in market, there is great potential for success when entering the Spanish and Portuguese market. Know your weaknesses and seek help from EI to develop them into strengths. 

Enterprise Ireland is committed to helping Irish firms succeed in global markets and have experts on hand, ready to help you access the Spanish market.

Our Market Advisors are always available to support you and provide business expertise and on-the-ground knowledge.

For more, download our Going Global Guide

If you would like to know what to prepare ahead of your first MA call, click the graphic below