Evolve UK Podcast – Local Authorities – UK Public Sector

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Enterprise Ireland’s Evolve UK podcast series shares market insights to help Irish businesses identify opportunities across the UK.

Kevin Fennelly and Laura Brocklebank of Enterprise Ireland UK are joined by Nick Kilby former London councillor and CEO of Cratus communications to discuss how COVID-19 has accelerated change across the UK Public sector, how devolution will affect public sector suppliers going forward and the opportunities for Irish companies looking at the sector.

 

 

 

Opportunities in the UK Cybersecurity industry

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This webinar explores the current state of the cybersecurity sector in the UK.

Enterprise Ireland‘s Sarah McNabb, Market Advisor in the UK was joined by Thom Langford, founder of TL(2) Security, former global CISO of Publicis Groupe and award winning security blogger to discuss:

  • UK Cybersecurity Current State of Play

  • Impact of Covid and Brexit on the sector

  • Future opportunities/trends and growth areas

  • In the mind of a CISO- how to successfully sell to a UK senior cyber buyer

  • Interactive discussion and Q&A

For more UK Digital Technologies insights click here.

 

Webinar – The state of play in UK retail

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This webinar featured Allyson Stephen of Enterprise Ireland UK and retail expert, Brian Roberts an experienced retail & shopper insights professional, previously working with Kantar, Mintel and tcc Global.

This webinar will provide a unique insight into UK retail with discussion on:

  • Pre Covid strategies, performance and dynamics

  • impact of Covid-19 on the sector

  • Likely consumer sentiment and behaviours post-lockdown

Offshore WInd farm

For SMEs in the marine sector, the world is their oyster

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The Marine Ireland Industry Network (MIIN) is made up of companies and key stakeholders across this very broad sector. And coordinator, Liam Curran who is also a Senior Technologist with Enterprise Ireland and specialist in the industry, says despite the current global situation, the future for SMEs in this area is bright as development and investment continues.

“The ocean economy in Ireland is resilient and where there are challenges there are also a wealth of opportunities,” says Curran. “This has been recognised by the current government which has made a commitment to develop a new integrated marine sustainable development plan, focusing on all aspects of the marine, with a greater focus on sustainability and stakeholder engagement.

“One key area Enterprise Ireland is specifically interested in is the role of technology and SMEs and how we can collectively position Irish enterprises at the forefront of a digital revolution in the marine/blue economy.” says Curran 

“This goes across all marine sectors, but Enterprise Ireland views the emerging Offshore Renewables sector as a key area of opportunity for Irish marine industry capability – and this sector, particularly Offshore Wind, will play a critical role in Ireland’s decarbonisation agenda.”

 

A rapidly growing sector

The MIIN co-ordinator says the industry as a whole has been growing steadily for a number of years and work has also focused on strengthening established marine industries such as fisheries, aquaculture, and tourism and the marinisation of existing industries such as ICT, food, clean/green and finance into a range of marine related markets.

“There are some great examples of Irish companies identifying and targeting these opportunities, including Bio-Marine Ingredients in Monaghan who extract high value lipid and protein products from Blue Whiting, a fish which was previously considered low value by the seafood processing industry,” he says. “The production of high-end bio products from marine biological materials is an emerging growth area in the Blue Economy.

Wicklow-based Voyager IP specialise in providing high end connectivity solutions to the superyacht industry, while Vilicom provide communications systems for the Offshore Wind industry. And because of Ireland’s location at the edge of the North Atlantic, we can benefit from one of the best offshore renewable energy resources in Europe.”

 

A focus on sustainability

According to the marine expert, developing this in a sustainable manner is going to be key in supporting our clean energy transition.

“It has the potential to make a significant contribution to the decarbonisation of the Irish electricity system, as well as the potential for providing employment in small coastal communities which are unlikely to attract foreign direct investment,” he says.

“Examples of MIIN companies in this area are Gavin and Doherty Geosolutions, who work globally for the offshore wind industry, while Inland and Coastal Marina Systems fabricate and install pontoon systems for harbours and have been winning work in the UK installing mooring systems for Crew Transfer Vessels.

“Currently, the development of the offshore renewables sector in Ireland is high on the government’s agenda and much care is being put into developing the National Marine Planning Framework and new consenting regime to ensure this is done in a fair and sustainable way.”

 

Ample opportunities

Curran says that in order to take advantage of this, companies in the sector should consider how they might pivot capability to meet the needs of the offshore wind industry.

“This is a huge area of opportunity for Irish marine SMEs, both at home and in export markets,” he says. “Galway based Bluewise Marine have done exactly that, offering experience in areas such as marine and fisheries science, engineering, health & safety management, and community engagement, as well as a range of technical and operational project management supports to assist companies to select and develop offshore renewable energy sites, coordinate marine surveys, engage with the local supply chain, and manage stakeholder relationships.

“In Killybegs, the marine engineering capability has been built up around the pelagic fishing industry but is now also looking at how skillsets could be applied to the offshore wind sector – and marine fabrication companies like MMG Welding and Seaquest Systems, amongst others, have the capability to be part of this rapidly growing industry.”

 

Research is vital

The senior technologist recommends that companies which may be interested in entering this sector should join MIIN and attend events (currently online) to meet the best industry innovators – but says it is also important to research the sector beforehand.

“The marine sector is very unforgiving of products or services which haven’t been properly ‘marinised’ and built to withstand everything the North Atlantic winter will throw at them,” he says.

Curran confirms “We are fortunate to have a suite of testing facilities available for companies to trial and validate their products or services” 

“These includethe Lir National Ocean Test Facility at UCC and the Galway Bay Marine & Renewable Energy Test Site. We also have an excellent maritime training facility at the National Maritime College of Ireland.

“In addition, the marine research ecosystem in this country is very active nationally and internationally, while SFI has supported research centres, like MaREI, to help Ireland stay at the forefront of marine research.

“So any SMEs who are interested should log onto the Marine Ireland website to get an insight into the vibrant marine ecosystem which exists in Ireland.”

Post-Brexit Construction in Ireland & the UK

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Chaired by Anne Corr, Construction Market Advisor for Enterprise Ireland and joined by a panel of leading construction lawyers, this Evolve UK webinar examines the legal ramifications on how Brexit has impacted:

– Labour and Resourcing

– Goods and Materials

– Standards and Regulations

– Opportunities and Risks

 

With insights from

Dominic Jones, Partner at UK law firm Blake Morgan,

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

Lisa Boyd, Director and Head of Procurement Law at Northern Ireland law firm Cleaver Fulton Rankin

 

New Frontiers: Turning great ideas into promising businesses

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Great ideas are in the Irish DNA, but turning these ideas into viable businesses takes time, ambition, hard work and support.

To help entrepreneurs turn their ideas into promising businesses, Ireland has built up a solid network of supports for early stage start-ups, with a high level of connectivity to ensure that businesses can access the right support at the right time.

Many entrepreneurs begin their business journey at the Local Enterprise Office (LEO), which offers a wide range of experience, skills and services.

Typical supports offered by the LEOs include training and mentoring programmes, access to financial support and microfinance loans, general business advice and help with business planning.  and with 31 LEOs nationwide, entrepreneurs don’t have to travel far to find business support.

The LEOs are also the front door into other support services such as the local authorities, Enterprise Ireland and State agencies, including the Department of Social Protection, Skillnets, Education and Training Boards, Microfinance Ireland, Revenue and Fáilte Ireland.

“The beauty of the structure is that it’s inter-connected,” explains Teri Smith, manager at Enterprise Ireland’s High Potential Start-Up (HPSU) division. 

“At the HPSU, we would communicate with the LEOs and other starter programmes like New Frontiers, so a suitable business can very readily come onto our radar if they’re going through those channels, which allows us to transition them at the right time.” 

“From an Enterprise Ireland point of view, a lot of entrepreneurs would have started out with LEO supports or New Frontiers; when they have their business plan, their prototype and their market opportunities mapped out, and ready to raise seed investment, that’s generally when they transition to Enterprise Ireland.”

 

New Frontiers

The highly regarded New Frontiers programme is a popular starting point for many entrepreneurs. Like the LEO supports, New Frontiers is available nationwide and is delivered on behalf of Enterprise Ireland by Institutes of Technology and Technological Universities in 16 locations around Ireland. Since Enterprise Ireland began managing the programme in 2012, 4,700 individuals have participated in New Frontiers, with 1,430 going on to the immersive Phase 2 of the programme.

“New Frontiers is a good starting point,” says Teri. “Phase 1 can be done while you’re still in your day job, so you don’t have to go ‘all in’ to progress your idea and see if it has the potential to turn into a business.” 

The programme is aimed at early-stage entrepreneurs with business ideas from across all sectors including food & consumer products; information & communication technology; engineering & electronics; medical devices; biotechnology; pharma, digital media; cleantech/renewable energy;

They could also be developing new solutions that would have export potential, or an innovative alternative to what is mainstream in the marketplace. Entrepreneurs would have to have qualified that there is market potential for their product in order to be eligible for a place on the programme.

New Frontiers is delivered in three phases. Currently offered online due to the ongoing Covid-19 situation, Phase I consists of weekend and evening workshops to research and test the market potential of the idea. By the end of this phase, participants should have a good idea as to whether their idea can become a viable business – and be confident enough to leave their job or take a career break to immerse themselves in their fledgling business.

Entrepreneurs who have successfully completed Phase 1 can apply for Phase 2, which is a full-time intensive programme that focuses on developing and validating the business proposition. Participants are supported throughout this phase with workshops, mentoring, regular milestone reviews, a free co-working space and guidance from the programme team.

In addition, a tax-free stipend of €15,000 is paid directly to the entrepreneur over a six-month period, along with web hosting and support worth $15,000 from Amazon.  No equity is taken in your business in exchange for this support package.

Upon successful completed of Phase 2, participants can also apply For Phase 3, which focuses on bringing the product/service to market and preparing to acquire further funding.

Many New Frontiers participants have progressed on to Enterprise Ireland supports such as the Competitive Start Fund and the High Potential Start-Up Fund; these include Wellola, Video Sherpa, Swyft Energy, Snapfix, Examfly, LiveCosts, Positive Carbon and Safecility. And from there, great things can be achieved.

For instance, Immersive VR Education in Waterford, one of the 2016 participants, raised €6.75 million following a successful IPO in 2018. In 2020, Cork ed-tech company and New Frontiers graduate TeachKloud raised €750,000, with investment led by Frontline Ventures and ed-tech investor Sean Tai. And in terms of creating employment, 2017 participants Xerotech has established an R&D centre in Claregalway with space for 40 engineers.

The highly connected nature of Ireland’s supports for early-stage entrepreneurs means that the sky really is the limit for ambitious innovators. Great ideas with huge potential are quickly identified and given the right support to bring them as far as possible, furthering our island’s reputation as a hotbed of promising start-ups.

For more information on New Frontiers, including a calendar of starting dates across the country, visit www.newfrontiers.ie

Image of Mo Harvey

 The future looks regulated – regtech report

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Photo of Mo Harvey, fintech advisor

The Irish fintech sector has long been dominated by the payments industry but the regtech (regulatory technology) sector in particular has been quietly achieving great heights globally and without much fanfare, until now.

Mo Harvey, Financial Services & FinTech Advisor, Hong Kong, says the sector is often overlooked as it is not consumer-facing, but in fact regtech has been steadily growing in sophistication and applicability.

“There are varying definitions out there (as to what regtech is) but, at its core, it is the use of new technologies by institutions, banks, insurance companies or any regulated entity to meet regulatory compliance challenges in a more efficient way,” she explains. “It transforms risk management and compliance functions and enables companies to strategise and grow while complying with even the most complex regulations.

“Ireland is an important centre for international financial services with a high-quality talent pool working in legal, risk and compliance functions – currently, regtech is the largest indigenous fintech sub-sector and it is bubbling with promise.” says Harvey. 

 

Global Regtech Market

According to Harvey, regtech is the ‘unsung hero’ of the fintech sector and the Asia-Pacific region is ripe for Irish firms within in the sector.

“Pre-pandemic, the global regtech market was predicted to grow from USD$6.3 billion in 2020 to USD$16.0 billion by 2025, a rate of over 20% per year, with Asia-Pacific accounting for the highest growth rate over this period,” she says.  “However, COVID-19 caused an acceleration in adoption in tandem with a fintech boom so the market could hit as high as USD$30 billion by 2025.

“Market and industry drivers such as the 2008 financial crisis, increasing regulatory enforcement actions and fines, proactive regulators encouraging regtech adoption, digital banks, payments and lending, virtual assets and remote onboarding are just some of the contributing factors which have created opportunity for specialised solutions.

“Regtech adoption is mature in Europe and the USA, but Asia-Pacific presents an interesting opportunity for regtech companies. It is a uniquely fragmented region of developed and developing markets, with a number of sophisticated financial ecosystems and complex regulatory environments.” confirms Harvey. 

 

Expanding the Irish Regtech Footprint

Enterprise Ireland began its Asia-Pacific wide regtech initiative over three years ago and has just released its ground-breaking report on The State of RegTech in APAC, and Mo Harvey says the report has even garnered support from all the key fintech ecosystem players throwing their weight behind it, from the APAC RegTech Network and The Regtech Association of Australia to the FinTech Associations of Singapore, Hong Kong, Japan, and Malaysia.

“We could see an increasing number of regtech companies coming out of Ireland and an alignment in terms of potential and opportunity in Asia-Pacific,” she says. “What started as an exclusive market research for Irish regtech companies to help them understand the nuances of the region, has now become the authority on regtech in Asia-Pacific.

“Consequently, people are starting to take note of what Irish regtechs have to offer out here.”

 

Plenty of opportunity for Irish firms

Covid 19 may have caused many problems for industry in every sector across the globe but the fintech expert says it has brought about some positivity for companies in the regtech sector.

Right now, we have a perfect storm of opportunity,” says Harvey. “Regtech adoption in Australia is well-advanced but it is at a relatively early stage in the Asian banking market with opportunities for further growth.

“While many banks have started using regtech, most commonly in financial crime, regtech is employed in a low percentage of risk management and regulatory compliance activities.

“The breadth of regtech adoption is expected to increase over the next year, especially in the areas of conduct, customer protection, regulatory and tax reporting, and regulatory compliance obligations.” says Harvey. 

“In addition, we are seeing regulators in key markets such as Australia, Singapore, Hong Kong, and Japan, all encouraging the adoption of regtech (some regulators going as far as incentivising banks to buy regtech solutions). So now is a good time for regtechs to start building at least one Asia-Pacific market into their expansion strategy.”

 

 Ireland’s Regtech Cluster of Excellence

In outposts around the world, Enterprise Ireland is working hard on behalf of Irish businesses and its strategy with regard to regtech is to help the sector cluster in Ireland to be synonymous with excellence.

“There are a number of Irish companies already enjoying global success,” says Mo Harvey. “These include Fenergo, Vizor, Daon, MyComplianceOffice and Know Your Customer, while AQMetrics, Cerebreon, Sedicii and DX Compliance are gaining international traction. Hopefully more can follow in their footsteps.

“Marrying Europe’s position as a global leader in regulatory and compliance standards with Enterprise Ireland’s investment in innovative technology-driven companies, has provided fertile soil for Ireland to have a world-class regtech cluster and support the imminent global regtech boom.”

 

To learn more download our State of Regtech APAC report.

The Future of UK Ports – Overview, trends and opportunities

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As the UK ports industry enters a time of significant transformation, we hear from leading market experts on the latest trends and opportunities for Irish suppliers in the sector.

This webinar examines:

  • Ports for offshore wind

  • Freeports

  • Port decarbonisation

  • Smart ports and digitalisation

 

Contact our UK Cleantech Market Executive or gain key business insights with our on-demand UK webinar series.

    Wyeth Nutrition and Water – Achieving the Highest Standard in the World

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    As climate change exacerbates water challenges across the globe, the importance of water conservation and water stewardship has come to the fore now like never before.  In driving environmental efficiencies, it’s now essential that water in its wider context is now front and centre in the pursuit of sustainable corporate practices.

    At Nestlé’s Wyeth Nutrition, there’s always been a pioneering and innovative spirit when it comes to pursuing progress.  Supported through GreenPlus, the factory has now become the first manufacturing site in Ireland to earn the global top standard of a Platinum certificate under the rigorous Alliance for Water Stewardship (AWS) standard.

    While water is still taken for granted by many, it’s predicted that almost half the world’s population will be living in areas of high water stress by 2030.  Water use has been growing globally at more than twice the rate of population increase in the last century and climate change and bio-energy demands are also expected to amplify the already complex relationship between world development and water demand.

    As part of Nestlé, the largest nutrition, health and wellness company in the world, Wyeth Nutrition supplies infant and maternal nutrition products to markets across the globe. The experienced workforce at the world-class factory at Askeaton, Co. Limerick are constantly aware of their responsibility to the current generation but also the generations to come.

     

    Quality assurance

    Gaining the top award from the Alliance for Water Stewardship (AWS) has been a noteworthy achievement for the company.  “Fresh, clean water is essential for our production here and to ensure the highest quality product.  Our journey to safeguard and improve our water usage involved extensive engagement with stakeholders in our immediate water catchment area and across Ireland.” explains Ian Ryan, who headed up the project.

    “GreenPlus helped us to achieve what is the highest possible standard and deliver what we wanted to ultimately achieve to be an exemplar in the area of water stewardship”,  says Ryan, Energy and Utilities Manager

    “We are privileged in Ireland in relation to access to water, but around the world some of the statistics around water are of concern.  Goal 6 targets in the UN Sustainable Development Goals are clear in relation to water-use efficiency across all sectors by 2030 and everybody has to play their part.”

    Wyeth Nutrition took a practical approach and their project objectives were to implement a water stewardship strategy, principles and procedures at the Askeaton site.  Their credentials are now clear and they have become elite performers. Having done a gap analysis report, new water stewardship practices and procedures have now been implemented, standardised and externally validated via the newly developed Site Water Stewardship Manual and the company has achieved the highly-covetable AWS standard.

    “GreenPlus enabled this journey for us”

    One of the most positive things about the process for Wyeth is that the company is now set to bring this information further out in to the community and get more and more people trained up with the aim of creating a vibrant, collaborative, stakeholder-inclusive process. “We had a very high level objective to achieve and we want to maintain it. GreenPlus enabled that journey for us. The application process was clear, the funding stream was there and we also gained access to the people that we needed. It gave us the framework to map out our tasks”.

    “The task ahead of us all is still enormous and really the work is only starting”, points out Ian.  “We all need to work together to ensure the sustainability of this vital resource on which we all depend.”

    As the world’s largest food producer, Nestlé has committed to taking action to address water sustainability across its business:

    • In the period 2010-2019, Nestlé has reduced its direct water withdrawals globally by 31%, with a 37% reduction in the nutrition and healthcare category.
    • Nestlé has certified 32 of its factories worldwide to the AWS standard to date and with a commitment to certification of all Nestlé Waters plants by 2025.
    • On the wider issue of sustainability, Nestlé set out a detailed and time-bound plan to halve greenhouse gas emissions by 2030 and be net zero by 2050.

     

    To get your business ready for a green future visit Climate Enterprise Action Fund or contact the Climate Action Team

    Online Retail Scheme: Helping Irish retailers compete on a global scale

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    Online shopping has been growing steadily in popularity over the last decade, with many more retailers setting up websites and the shopping experience becoming ever-more convenient, fast and cost-effective. However, thanks to Covid-19, this evolution has accelerated, with many businesses reporting huge increases in online sales and more consumers discovering the advantages of shopping online.

    “Many retailers would have had a very small investment online, but an intention to do more in the future; then Covid-19 turned online from a “nice to have” into a “need to have” in order to survive,” says Ross O’Colmain, Enterprise Ireland’s manager for the construction, cleantech, timber and consumer sectors

    “The flip side of this is that there’s now an opportunity for retailers to evolve in a positive sense. By investing online, you can tap into that consumer demand for online goods and into a wider consumer base. Online also potentially opens up your business on a global scale.”

    Enterprise Ireland’s Online Retail Scheme was devised originally in 2019 in recognition that consumer behaviour was shifting gradually to online buying. After a successful pilot scheme, the initiative was launched in 2020 as the Covid-19 Online Retail Scheme, when it became clear that having a presence online was now a case of survival for many Irish retailers. A total of 330 retailers were approved €11.8 million via two rounds of the scheme in 2020, with the average grant per business in the second round being €36,700.

    A further €5 million funding was announced for the scheme in 2021, recognising once again that a sophisticated web presence is now a must-have for Irish retailers. “The scheme is for companies with more than 10 employees that have some sort of web presence already, even perhaps a simple e-commerce site or social media presence,” explains Ross. “The scheme is really for those companies that recognise that online will be a major part of their business in the future. It allows for companies to bring in consultants to implement and execute their online strategy as well as contribute to the technology needed for that strategy, for example a platform that allows for the integration of stock levels.”

    Investing in the best expertise and sophisticated online technology can be expensive, and possibly beyond the budget for many retailers that have been recently closed for months at a time; recognising this, the Online Retail Scheme offers a very generous grant rate.

    “We offer grant aid of up to 80% of the project’s cost,” says Ross. “In other words, if you come to us with a €50k project, we can support €40k of that. It’s not just about the funding, however, it’s about doing the research and having a very smart plan that matches your offering to the people, so you get the best possible conversion rate.”

    Enterprise Ireland is committed to helping as many retailers as possible strengthen their online presence to compete both nationally and internationally; with this in mind, we’ve outlined five important things you need to know when applying for the Online Retail Scheme this year, along with some great advice from previous successful applicants.

    Explain your project as clearly and succinctly as possible

    “You need to assume we know nothing about your business, so you have to tell us in very basic form what your current online position is, your target market, what internal skills you have,” says Ross. “You need to have a really clear idea of the project’s objectives, and make these simple to understand. Basically speaking, the better researched your project, the better chance you have of success with the application.”

    “We spent a long time on the application as it was a really serious project for us,” says Sarah Gill, managing director at Seagreen. “We had an online presence, but I didn’t believe our online store reflected the look and feel of our bricks and mortar shops. It’s basic, it’s functional but it’s absolutely not what our customers would expect from us. We compete on an international scale, selling labels that are available on Saks 5th Avenue and Net-a-Porter, so if you were looking for a particular item, as it stands, you wouldn’t go to Seagreen over those sites, because it’s a little local-looking and clunky.

    “The main aspect of the project we put forward to Enterprise Ireland was engaging a consultant, an outside vendor who can direct and implement a strategy, really important things such as stock management, and then training the team.” says Sarah Gill, managing director of Seagreen

    “We also have someone dedicated to online, which is a big step for us. Another key consideration was making the site more international in feel to help increase our international customer base.”

     

    Outline what you want to achieve with the project

    “Identify how the project will impact your business – your sales, your customer acquisition and the future of your business,” says Ross. “Identify why you need to invest in a better online platform. Think about your marketing strategy and the preferences of your target customers. Describe the best case scenario for your business following implementation.”

    “In our case we had a well-established website but it just wasn’t where we wanted it to be,” says Maeve Ryan, managing director at The Book Centre. “We didn’t have the skills inhouse and so we wanted to engage external experts to assess the site, work on our SEO and customer retention and identify where we could improve. We also wanted our site to reflect the ethos of our stores, which is based on good customer service. I spent about a month researching the project, educating myself on where we wanted the site to go and talking to potential service providers. In the end we went with a company that was able to explain clearly what they could do, and how their research and recommendations would pay off in terms of increased business and profits online.”

     

    Engage early with a suitable consultant/service provider

    “As early as possible, identify the consultant or service provider that you want to work with,” says Ross. “There are many that know how the scheme works and have the knowledge and ability to execute. This will influence your application. Retailers can choose any service provider they want; however, it’s important to remember that we will be assessing the quality of the plan, the experience of the chosen consultant and their ability to execute your plan.”

    “When the scheme was announced, we began engaging with Enterprise Ireland at the same time as we were consulting with a service provider,” says John Smith, managing director at Best Menswear. “Luckily the people we picked had a proven track record in driving profitable online sales and we were confident that they could bring us to where we wanted to be. We went from signing papers in May to going live in September, which was quite an achievement. This was greatly helped and facilitated by the grant from Enterprise Ireland.”

     

    Show you have thought about international opportunities

    “We meet retailers at all stages of their journey to internationalise,” says Ross. “We simply want you to consider how your online presence could open up global markets for you – your competition abroad, any potential technology issues, marketing etc.”

     

    “For us, there’s great potential in the international market,” says John Smith from Best Menswear. “We’ve already managed to sell to approximately 23 countries, including Canada, Australia and Japan, without even targeting specifically to them. One of the reasons we went with the company we did is because they have a very international outlook and were only interested in working with us if we were intending to target abroad.”

     

    Ask for help and guidance if you need it

    “Look carefully at the application and how it is divided up in terms of scoring,” says Ross. “Make sure you’ve answered everything. If you need any help, we have a specific email address which deals with hundreds of queries and there’s a very fast turnaround on answers. We will also be hosting several webinars that take you through the process.”

    “The process is incredibly doable,” says Derek Moody, director at Great Outdoors. “The guys in Enterprise Ireland could not have been more helpful. They encouraged us, they advised us, they looked over our plans as we developed them, they were there for us every step of the way. The result has put our online business three years beyond where we had initially planned it, especially in terms of targeting international markets, particularly Europe, which poses significant opportunity thanks in part to Brexit. We’re testing in France and Denmark at the moment and we’ve definitely had a few sales trickling through – this is without officially launching.”

    Learn how the Covid-19 Online Retail Scheme can support your retail business online growth.

     

    Enterprise Ireland administers the Online Retail Scheme on behalf of the Department for Enterprise, Trade and Employment.

    Enterprise Ireland’s top tips for entering the French market

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    France will be Ireland’s closest geographical neighbour in the European Union after Brexit. As both countries are members of the EU, trade between France and Ireland is greatly facilitated by a common currency, free movement of goods and services, and regulatory alignment.

    France is the world’s 7th largest economy and home to many internationally renowned businesses, from telecommunications giant Orange, to international pioneer in aerospace Airbus, and leaders in luxury consumer goods like the LVMH group.   For Irish businesses with the ambition to go global, the French market boasts many opportunities- if you follow our top tips!  

     

    • Build trust

    It is important to remember that when approaching a French partner or buyer, you are completely unknown. Reassuring your targets that you are serious and that you have valuable ways to fill gaps and solve their problems should be your number one priority. Approaching your targets in the correct way i.e. through being introduced through other contacts or EI Market Advisors and having a strong value proposition and case studies prepared in advance is key to appearing credible to a potential customer.

    Gaining the trust of your customers means you will also receive it. It is often said that the French are reluctant to break their supply chains for new products and services and disrupt existing relationships, which presents a hurdle to Irish businesses entering the market. However, once you do secure a French customer and gain their trust, you will find them to be very loyal. Going forward, they will tend to work with you to resolve issues rather than go straight to your rival.

     

    • A strong value proposition is vital.

    This reluctance to change suppliers means that ‘me too’ products are unlikely to succeed in the market. Before approaching decision-makers, it is vital to have done extensive research and competitor analysis and have a strong value proposition for your product. Remember that in France, improvements on products or processes are not enough to be considered innovative. The French tend to look for new ways of doing things, or entirely new approaches, to consider something an ‘innovation’.

     

    • Know your customer

    Carrying out extensive market research through Enterprise Ireland’s Market Research Centre and by talking to the Market Advisors is vital before approaching any potential prospects.  As well as validating the market opportunity for your value proposition, this will help you identify the best targets (for example, French businesses in France rather than multinational firms in France that do not have power over buying decisions), and the correct people to target within organisations.

    French business culture is very hierarchical and understanding the organizational structure of the types of companies you wish to target is also very important. There may be several people to go through before reaching the Purchasing Manager or Director of Procurement. Don’t eliminate anyone as not being influential in the purchasing process, however, the final decisions will be made at the top level.

     

    • Pay attention to detail.

    France loves detail. French buyers will expect to see great attention to detail both in your product and service offering and in the way you do business. Small mistakes are a big deal and could cost you a sale.

    Getting your product or service to market in France will require lots of work in terms of compliance, respecting regulation and red tape. While these might sound like barriers to entry, they are there to establish and protect quality. In fact, they ensure a level playing field amongst all competitors.

     

    • Don’t (always) take no for an answer.

    When doing business in France, one of the most common words heard in meetings will be “Non”. This is not a negative but the first step on the road to “Oui”. “Non” forms the basis of a discussion with your intended partner or client that will deal heavily with specifics and navigating French regulatory compliance. In France, an argument is usually the precursor to a discussion.

    Therefore, it is so important to have a strong value proposition and understanding of why your product is the best one for the buyer, before entering discussions.  

     

    • French language skills.

    While many French businesspeople have excellent English, communicating in French is preferred and having a native French speaker sends a very strong signal of your intent. Hire an interpreter for your initial meetings in the French market. Make the effort to have marketing and web material accurately translated, preferably by a native French speaker. It is also very important to be cognizant and respectful of your use of language with potential customers- always use formal language and never address anyone using their first name unless invited.

    The only exception to this rule is in the Digital Technologies sector, where most business is conducted through English.

     

    • Be patient.

    If you intend to do business in France, you must be patient. Deals take time, partnerships need to be nurtured, and even the most routine meetings need to be set up well in advance. Rushing things will be perceived poorly in France. 

    French business culture takes time because of its approach to detail, and the value it places on evidence-based decision making. This patience pays off, as once a decision is made, it is usually not revisited.

    If you are considering doing business in France be sure to reach out to our teams in Paris and Lyon and read our Going Global Guide for more information.

     

    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 Japanese Market Advisor meeting

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    Japan is an affluent, vibrant economy with opportunities for Irish businesses across a range of sectors.

    If you are considering doing business in Japan, your first step should be a call with our team in Tokyo.

      The questions below were designed to help Irish businesses get the best out of their first Market Advisor call

      • What is the business environment like in Japan?
      • Where can I conduct research on the niche I am operating in?
      • What are the experiences of other Irish companies exporting to Japan?
      • What is the typical route to market?
      • Will I need a local partner company?
      • What kind of obstacles should I expect when entering this market?
      • What local competitors are active in this market?
      • What taxes or costs of entry should I be aware of?
      • What is the regulatory environment like for my offering?

      Set up a call with our team in Japan today 

       

      Enterprise Ireland’s top tips for entering the Japanese market can be viewed by clicking the graphic below.