Seoul, Korea

Great opportunities on the Eastern horizon

This year marks the 10th anniversary of the EU-South Korea Free Trade Agreement (FTA) which was provisionally in place since 2011 and formally ratified in 2015. And although it is a decade old, Taewon Um, Director of Korea at Enterprise Ireland, says it continues to be beneficial to Irish businesses.

“As with any free trade agreement, this one aims to further liberalise trade between South Korea and the EU by eliminating or reducing customs duties on industrial goods and agricultural products,” he says. “For example, South Korea’s average tariff rate was 8% but the FTA removed all tariffs on industrial goods heading into South Korea within the first five years of its implementation.

“Fundamentally, the FTA has made it easier and better for Irish and European businesses trading in South Korea. This means Irish exporters under the FTA won’t need to pay the customs duties, which vary depending on items and products gaining a price advantage or cost benefit.” says Um.

 

Supporting Irish business

The Korean market is the fourth largest in Asia, so it has great potential for Irish firms – and the area director says one of his main remits is to help Irish businesses to gain a footing in this market and also to support existing companies in scaling their exports.

“I provide market research and advisory support to help formulate market entry and scale strategy,” he says. “I also make introductions to Korean buyers and partners and introduce innovative Irish solutions and capabilities to potential Korean partners and stakeholders.

“Since its onset, the FTA has been very beneficial in making this happen as it also addresses non-trade barriers (NTBs) in key sectors such as pharmaceuticals, medical devices, automotive and more. This makes it easier for businesses to comply with the regulatory elements by recognising the other party’s standards or waiving certain regulatory or certification burdens.

 

Common traits

“In fact, a report by Copenhagen Economics finds that the EU-South Korea FTA had already resulted in an increase of €273m or 31% in Irish exports to South Korea in 2015.”

But the market expert says it is important to note that the agreement doesn’t provide all the intended benefits automatically, so he would advise Irish businesses to attain approved exporter status and analyse how best it can use the FTA to save costs and minimise administrative burdens.

He says the Irish businesses doing well in the Korean market all seem to have the same ethos.

“They tend to share certain commonalities in that they are all highly innovative and have industry-leading technologies or solutions which fit the market, have trusted in-market partners, and put resources on the ground to serve customers and partners,” says Um.

“South Korea has strong ambitions to lead the biopharma industry, and Ireland’s expertise in this sector is widely recognised and highly regarded. Also, Ireland is South Korea’s sixth largest source of medical devices – and as digital health is an area where South Korea wishes to develop, Ireland can add strong value given its strong position and expertise in both this area and in innovative biotech.”

 

Cross sectoral opportunities

The digital technology sector is another area where Ireland has strong potential in Korea as AR, VR, IoT-enabled solutions, system chips for sensors, as well as data processing tech, are actively sought after by Korean businesses – and both fintech and RegTech are also presenting good opportunities for Irish firms.

Looking ahead, agri-machinery and agri-tech seem likely to be areas with strong future potential as the South Korean government has been working to increase agricultural productivity, and Irish Agri-machinery is well recognised and received by consumers in the Asian country. In fact, the government’s push for smart farming is also in line with Ireland’s agri-tech offering.

 

Irish companies successfully trading

According to the area director, the Irish companies doing well in Korea at the moment, include Novaerus, Kastus, Ding, InnaLabs and Skillsoft – and he believes that there is an Irish advantage which should be considered in the context of local markets as each market has comparative advantages and disadvantages.

“Overall, the Irish businesses which are doing well in Korea, invest time and resources and visit their partners and customers regularly,” he advises. “Obviously, travel has been difficult due to Covid-19, but in-person meetings and connections are still very important when it comes to building trust and relationships here. And although there is more acceptance among Korean businesses for initial virtual engagement than there may have been pre-Covid-19, this cannot replace the fundamental importance of in-person interaction.

“However, going forward, I am hopeful that once the world opens up fully, there will be plenty of opportunities for Irish businesses in Korea.”

 

Doing Business in South Korea webinar

Enterprise Ireland aims to boost the number of Irish businesses benefiting from the free trade agreements with these countries and recently hosted a webinar on Doing Business in South Korea.

The webinar brought together experts on the topic to provide knowledge and insights on key elements of the FTA, and to enable Irish businesses to make use of the FTA to its fullest in doing business in South Korea.

Register to watch the on-demand Doing Business in South Korea webinar.

Net Zero UK – The UK Energy Market & the Net Zero Challenge – Webinar

 

 

This webinar explores the major changes both underway and planned as the UK seeks to transition to a fully decarbonised energy system.

From the increasing role of renewable energy, to the decarbonisation of the heating and transport sectors, this Enterprise Ireland UK webinar invites experts and industry leaders to understand the timelines, technologies and innovation required for the UK energy system to achieve net zero.

Speakers:

  • Andrew Lever, Director of Programmes & Innovation, The Carbon Trust

  • Cian McLeavey Reville, Market Strategy Manager, National Grid ESO

  • Jon Slowe, Founding Director, Delta EE

    Gain key business insights with our on-demand UK webinar series

      Net Zero UK – Nine key steps towards a net zero construction business – Webinar

      The net zero challenge facing the UK will reform the ways in which business is done. This webinar focuses on the construction sector and examines the nine key steps towards a net zero construction business. Industry leaders from the UK and Ireland gave their insights and participated discussed their decarbonisation experiences.

      Speakers:

      • Isabel McAllister, Responsible Business Director, Mace

      • Dr. Matt Kennedy, Associate Director, Arup

      • Jo-Ann Garbutt, Director Sustainability, Mercury

      • Ché McGann, Sustainability Strategy & ESG Reporting Lead at Clearstream Solutions

      Gain key business insights with our on-demand UK webinar series

        Pricing Excellence – Pricing Study 2021 Webinar

        This Pricing Study was conducted by Enterprise Ireland in collaboration with Simon-Kucher & Partners.

        The study recorded nearly 500 responses with strong representation across all sectors demonstrating that the topic remains a high priority for businesses.

        This webinar presents the results of the survey along with guidance on how to develop and implement a price increase process.

         

        Gain key business insights with our on-demand UK webinar series

        Net Zero webinar - How, When & Why

        Net Zero UK – Why, When and How – Webinar

        The net zero challenge facing the UK will reform the ways in which business is done. To help Irish exporters understand how these changes will affect their sector and growth, Enterprise Ireland UK and UK net zero experts hosted the webinar Net Zero UK Overview, Why, When and How? 

        The webinar examines

        • The major industry and policy drivers that will accelerate the UK economy towards net zero emissions

        • The impact of the UK’S Sixth Carbon Budget, Green Industrial Strategy and individual corporate net zero plans

        • Key sectoral updates

        • Enterprise Ireland’s organisational climate action strategy

        • Green initiatives such as the €10 million Climate Enterprise Action Fund

        Gain key business insights with our on-demand UK webinar series

         

        Webinar – Opportunities in Human Pharma

        Enterprise Ireland has undertaken an extensive study in the Human Pharma space across four markets; France/Belgium/UK/Switzerland.

        The findings form the basis of our webinar ‘Opportunites in Human Pharma’ which provides an overview of the sector with key insights from industry experts on the the latest trends and opportunities to help inform Irish companies looking to grow in this space.

        Chaired by Deirdre Glenn, Enterprise Ireland’s head of life sciences with insights from:

        • Suzanne Coles, CEO & Founder of Tech Novia Solutions

        • Enca Martin-Rendon Phd, Senior Consultant Baehl Innovation

        • Jeanne Françoise, Founder of Williamson Biotech Solutions

        Designing the workplace of the future – A new guide for all employers

          The world of work was shaken to its core in March 2020 when the Covid-19 pandemic hit Ireland and hundreds of thousands of Irish workers had to suddenly work from home.

          The slow and steady drive towards digitalisation accelerated sharply, and virtual meeting programmes such as Zoom and Microsoft Teams became commonplace. Now, 15 months on, and with the vaccination programme well underway, employers can begin to think about a return to the workplace – hopefully permanently. But the many lessons learned during the pandemic has had both employers and employees thinking about the future workplace – will we ever go back to the way it was? And do we want to?

          Enterprise Ireland has produced a new guide, ‘Emerging Through Covid-19 – The future of work, which aims to help business owners think about the positives and negatives from the last 15 months and to use these to build a sustainable business model for the future. With many employees welcoming the idea of remote working into the future, either full-time or for part of the week, is it time for employers to recognise the positives of remote working and tie it into their company policy on a permanent basis? And if so, how can they make it sustainable?

          “This is a follow-on from last year’s Covid-19 employer guide; last year we looked at the health and safety aspects of returning to work, while the theme of this year’s guide is around the future of work,” explains Karen Hernández, Senior Executive, Client Management Development at Enterprise Ireland. “During Covid, the workplace has changed, the nature of work has changed for a lot of people, and what employees expect from their employers has changed. Our aim is for all companies to be prepared to put in place the right structures and practices that suit their business needs and also the needs of their employees.

          “A large portion of our client base experienced the need to rush into remote working when Covid-19 hit Ireland in 2020. There have been some advantages and opportunities associated with this; some businesses found they’re as productive, if not more productive when working remotely. This guide aims to help companies take what’s worked well over the last 15 months and create some sustainable practices and processes that work for everybody.”

          The guide was developed in partnership with Fredericka Sheppard and Joyce Rigby-Jones of Voltedge, a highly regarded HR consultancy based in Dublin. “The objective with the guide is that it gives you a framework to start developing your own plan for the return to the office,” explains Fredericka. “All organisations are going to have their own dynamic, their own set of circumstances, so there is no one-size-fits-all solution to this. Our aim was to identify key pillars for organisations to use to develop structure and a suitable framework for their business.”

           

          The importance of asking questions

          A huge emphasis is placed on the need for communication with employees when making these decisions. “Employers need to engage with and actively listen to their employees, while also driving their business forward,” says Joyce. “This is intended as a broad guide, where employers can pick and choose the relevant pieces to them.”

          “It’s very important that employees feel that they’re being heard,” adds Fredericka. “However, decisions need to be made based on a number of factors, and employee input is just one of those factors. Obviously it’s really important to manage expectations and sometimes it’s just down to how you ask the questions. Give them some context from a business point of view. It’s not just about the employees’ wish-list, it’s also about creating a sustainable workplace for the future.”

           

          Managing remote workers

          Many employers are looking at keeping some sort of remote or flexible working practices in place – and offering this flexibility can be very positive when it comes to attracting talent. “Almost two-thirds of our client base are saying they find it hard to attract, engage and retain talent,” says Karen. “Companies need to consult and stay close to their employees and ask them what they want – and include aspects like flexibility as part of a value proposition to attract candidates.

          “Many companies that we are working with are looking at some sort of hybrid model, where employees combine time working in the office and time spent working remotely, at home or in co-working spaces. There are huge upsides, such as accessing skills from different parts of the country that they never would have before – offering remote, flexible or hybrid working is attractive to employees.

          However, this can be difficult to manage, and companies need to consider what works for the team as a whole as well as what’s right for individuals within those teams.”

          “There’s a big need for management support and training, especially for middle and line managers and supervisors who are dealing with a remote workforce,” explains Joyce. “It’s difficult for them, but it’s important that they get it right. Ensuring your managers are confident in what they do, and in their engagement with their teams. We are hearing that companies are looking to bring their employees into the office more, but it’s about getting that blend right between remote working and the office. One aspect that we emphasised in the guide is the need to make sure you are not discriminating against employees who are not in the office environment.”

          Identifying and managing issues such as burn-out and isolation is essential if companies are to offer some sort of remote working policy. “Companies that have regular check-ins and meetings with staff and use different methods of communication, such as video calls, emails and direct messaging are more likely to keep employees engaged when working remotely.  It’s also important for employees to have individual focus time, where they are able to detach from colleagues and concentrate on getting their work done without interruption”, says Karen.  “Long term, we don’t know enough about hybrid working for a definite ‘best practice’ but instead companies should pilot different ways of working – for instance, we have some companies who are trialling a ‘team days’ concept – having the whole team in for certain days of the week, then for the rest of the week, they’re working from home.”

           

          Piloting the new workplace

          The aim of the guide is to pose those broad questions that will help employers in every sector decide on the right workplace for the future of their business – but there is no need to rush into a decision. “The biggest challenge for employers is making the decision as to how you’re going to handle this working environment,” says Joyce. “Are you going to fully return, are you going for a hybrid, can you facilitate a full return in the workspace that you have? Employers need to make very big decisions, and very strategic, long-term decisions, so we’re suggesting that they talk to their employees about what they want and then piloting whatever they plan to do before they make any strategic decisions that will impact on the business going forward.”

          Covid-19 has had a huge effect on how we work – but now is the time to use what we have learned since March 2020 to create a more inclusive, sustainable business model, one that pushes the business forward while creating a culture that values employees and their health and wellbeing more than ever before. This can only be a positive thing.

           

          To download Enterprise Ireland’s new guide, ‘Emerging Through Covid-19 – The future of work’, click here.

          Emerging Through Covid-19: The future of work

           

          In partnership with Voltedge, Enterprise Ireland hosted the webinar ‘Emerging Through Covid-19: The future of workand developed a guide of the same name.

          The webinar aims to assist companies as they prepare to embark on a new era of work post-Covid-19 and examines:

          • What the future of work look like for your business.
          • How Covid-19 has impacted the world of work.
          • How the introduction of hybrid or fully remote teams might change the way you do business.
          • What new skills will you need to attract, motivate and engage your employees.

          Speakers:

            • Karen Hernandez, Senior Executive, Client Management Development, Enterprise Ireland
            • Fredericka Sheppard, Joint Managing Director, Voltedge Management Ltd.
            • Joyce Rigby Jones, Joint Managing Director, Voltedge Management Ltd.

          Both the guide and webinar slides are availabe to download; Guide / Webinar slides.

          fintech

          Mexican market ripe for Irish fintech firms seeking to expand

          With an underbanked population and skyrocketing use of mobile tech, Mexico offers an open door to growth for Irish financial technology firms seeking new opportunities in the global market. This is a market with a real need for innovative financial services.

          “Mexico is in the early stages of a financial technology (or fintech) revolution, with start-ups focusing particularly on flexible, low-cost, accessible services,” says Sara Hill, SVP Southern US and Mexico at Enterprise Ireland. “It is the Latin American hub for the sector and local start-ups flourishing in the wake of local pioneers such as Kubo, Financiero and Conekta, all peer-to-peer payments firms which first emerged in 2011.”

          Partly driven by the same social distancing regulations and decrease in the use of cash seen everywhere because of the pandemic, use of mobile banking is soaring in Mexico, up 113 per cent between 2018 and 2020.

           

          Lending and payments lead the way

          Across the board, the financial services market in the country remains underserved, but local consumers and businesses are keen to see new services in this area and new financial companies don’t have to compete with legacy institutions as much as they might have to elsewhere.

          “Only 47% of the population in Mexico has a bank account,” explains Sara. “That’s why we’re seeing lending and payments as the top two areas in which fintech start-ups are operating. There continues to be huge demand and extensive room for growth in this area.”

          Start-ups are also active in Mexico in categories such as blockchain, crowdfunding, cryptocurrencies, digital banking, enterprise financial management, personal financial management, remittances and foreign exchange, scoring, identity and fraud, and wealth management.

          “In the Austin, Texas office of Enterprise Ireland, we not only support Irish businesses seeking to break into nine southern states of the US, but also those who want to enter the Mexican market,” says Sara. “We help them evaluate the opportunity there for their business and also offer in-market support such as introductions to buyers, partners and decision-makers.”

           

          Irish businesses soaring in Mexico

          Fintech businesses in Ireland considering this step will be in good company, with Irish tech firms already thriving in Mexico including Workhuman, Adaptive Mobile and Daon.

          Other Irish businesses also active in Mexico include Ornua (Kerrygold’s parent company), mobile recharge provider Ding, forklift firm Combilift, food packaging manufacturer Fispak, GM Steel Fabricators, and pharmaceutical engineering firm Prodieco. Overall in 2019, Irish exports to Mexico were worth €83m, up 36 per cent on the previous year.

           

          A growing market for fintech

          When it comes to fintech, Mexico is currently ranked 30th in the Global Fintech Ranking, with Brazil ranking 19. Mexico has over twice as many adults that use digital banking, however, compared with Brazil, Colombia and Argentina.

          The Mexican fintech is worth 68.4 billion pesos (around €2.8 billion), with about 4.7 million users out of a total population of 127.6 million. For context, the global fintech market was valued at US$127.66 billion (€105.9 billion) in 2018, with expected growth of 24.8% by the end of 2022.

           

          Understanding market challenges

          Rapidly developing markets like this one undoubtedly present challenges to potential new entrants. With a troubled history of corruption in the past, some lingering distrust of financial institutions remains, but the introduction of a stringent fintech law in 2018 has helped.

           

          “This law regulates which financial entities are legally allowed to operate and offer financial services in Mexico,” explains Sara. “So you have to make sure that your business is going to meet the criteria. The law was introduced to protect users and consumers, to prevent money laundering and to help foster an environment of trust.”

          Geography can also be a challenge for companies expanding in Mexico, with many rural areas having no banks or ATMs, meaning people are less likely to have bank accounts. While this presents a great opportunity for digital payments, internet and mobile service can be poor in some locations. As a result, fintech firms tend to be based in urban areas, with more than half of the 700 or so start-ups in the sector based in Mexico City.

          Other factors inhibiting financial inclusion in Mexico include income, education and even gender. That gender gap should close quickly, however, as men and women are equally likely to use mobile tech and social media.

           

          Building lasting relationships

          When it comes to exporting, understanding the nuance of any new market is vital. Firms must remember to localise products and messaging properly, for example, as Mexican Spanish is different to that spoken in Spain.

          On-the-ground agents or partners are also crucial when it comes to navigating the local business environment and building customer relationships.

          “People in Mexico want to do business with those they know and trust,” says Sara. “You’ll need to make multiple visits to build relationships or to have a strong partner on the ground who can represent your business.”

          For Irish fintech firms seeking to expand overseas, Mexico undoubtedly presents a real opportunity to build a user base quickly in a rapidly developing and dynamic market.

          Get advice and insight into local market conditions and practices in Enterprise Ireland’s Exporting to Mexico guide.

           

          UK Super Deduction: How it affects your UK customers

          As part of the 2021 UK budget, the British government has introduced the largest tax incentive on plant and equipment capital investments in their history.

          This incentive, known as the super deduction, allows UK companies to claim 130% capital allowances on qualifying plant and machinery investments. This is an increase on the 18% ordinary relief prior and came into effect on 1st April 2021 running until the end of March 2023.

          Alongside the super deduction, the UK government also introduced a 50% first year allowance (FYA) on for special rate assets until 31 March, up from a 6% allowance previously. These changes make the UK capital allowance regime more internationally competitive, lifting the net present value of UK plant and machinery allowances from 30th to 1st in the OECD.

          What does this mean for you and your UK customers?

          This incentive reduces the effective cost of equipment for UK manufacturers, thus making plant and machinery investments more attractive.

          For example, under current rules, if a company invests £100,000 in a piece of equipment they can write off the cost of that equipment against their tax bill. i.e. Since 19% of £100,000 is £19,000, the effective cost of their equipment is £81,000.

          With the new super deduction, you can write off 130% of your investment in “plant and machinery” against your tax bill. i.e. 130% of £100,000 is £130,000, which at the 19% corporate tax rate allows you to write off £24,700. This means the effective cost of your equipment is now £75,300. Therefore, companies are incentivised to move forward or make additional capital investments.

          This is necessary as investment has dropped significantly due to the pandemic in the UK which was on top of historically low business investment relative to the UK’s peers. Chancellor Rishi Sunak reiterated this need for increased investment “With the lowest corporation tax in the G7, we need to do even more to encourage businesses to invest – for decades we have lagged behind our international peers”.

          It is expected that these incentives should act as a catalyst to the return of capital investment in the UK post pandemic with Stephen Phipson of MAKE UK (The UK manufacturer’s association) stating that the super deduction should “turbocharge investment”.

          For many manufacturers in the UK investment cycles have stalled or been delayed due to Covid-19 and Brexit and may now be looking at capital investments for the first time in several years. According to a MAKE UK survey following the budget announcement, almost a quarter (22.6%) of manufacturers stated plans to increase investments in response to the super deduction. Furthermore, 28.1% of those surveyed said they will bring forward planned investments in response.

          This indicates the impact that these incentives will have on investments in 2021 and beyond, potentially making your customer base more receptive to your offering.

          This is one of the first major supports brought in for manufacturers since the UK industrial strategy was axed earlier this year and it is expected that there is further supports to come for UK manufacturers. There has been calls for an overarching plan for business to replace the industrial strategy, bringing together policies around sustainability, skills and trade, but it is uncertain whether such a plan will be put in place.

          Nevertheless, the introduction of incentives like the super deduction are sure to be welcomed by manufacturers in the UK and Irish companies should ensure they are up to date with any supports their customers may be receiving for their product/service. To learn more about Tax super deduction visit www.gov.uk.

          Stay up to date with Enterprise Ireland UK on LinkedIn or get in touch here.

          UK Net Zero Construction Report

          This report is a guide for Enterprise Ireland clients targeting or operating within the UK construction sector to inform and support their navigation to the start line of a journey that leads to net zero carbon emissions.

          A key focus of this report is to prioritise the key factors that address the question of

          • Why focus on emissions? e.g making the business case.

          • What? e.g. what a decarbonisation journey could look like.

          In addition, we feature interviews with some of the UK’s most influential property and construction companies including, British Land, Mercury Engineering, Mace Group, Arup and Willmott Dixon.

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

           

          The eCommerce boom in Germany

          Germany has always been a nation of online shoppers, but Covid-19 has seen eCommerce become even more deeply rooted in society – with 65 million people, or 80% of the German population, now purchasing online on a regular basis.

          And as the country has the largest economy and consumer market in the Eurozone, Cathy O’Shea, Market Executive for Trade Development, Germany, at Enterprise Ireland says it couldn’t be more important to Irish companies.

           Popularity of online shopping to continue

          Huge German digital retailers like Zalando will be familiar to fashion-forward Irish consumers, or those who work in their Dublin offices, as the multi-national mega-retailer took in profits of nearly €8 billion in 2020 alone,” she says. “But this is only the tip of the iceberg in the German eCommerce boom, as store closures due to the Covid-19 pandemic didn’t just create a new wave of online shoppers, it also activated a new wave of online shops. So while stationary retailers were forced to close their doors amid varying levels of lockdown, this has made the eTail environment more competitive than ever.”

          This, she says, is reflected across the whole Eurozone, which saw record-breaking eCommerce sales of €717 billion last year – and highlights the Eurozone opportunities on our doorstep and the benefits of accessing the biggest free trading area globally with little friction.

           

          Irish businesses successfully trading in Germany

          The market expert says virtual selling and digital networking are not going anywhere fast. So if you’re missing a virtual sales capability, you have a skills gap. But there are a number of Irish companies with very successful business relationships in Germany.

          “Increased competition means that eCommerce retailers need to pay critical attention to every customer touchpoint and focus on excellence behind the scenes to stand out from the crowd,” she says. “So there is a clear demand for innovative solutions which help connect online retailers to their customers.

          “Over the last year, we’ve really seen eCommerce and Retail Tech innovations out of Ireland grow their business in the DACH region, one example being Luzern – a leading eCommerce platform and related services provider, specialised in delivering innovative strategies for Amazon Marketplaces.

          “Nowadays, up to 70% of product searches begin on Amazon, making it the largest search engine for eCommerce. Essentially, if you are a growing brand, Amazon is a must for getting discovered by new customers and this is where Luzern comes in – they help companies to reimagine their Amazon strategy and find new ways to protect their brand, while also increasing their online revenue.”

          Opportunities for innovative Irish firms

          According to O’Shea, Luzern isn’t the only Irish company making its presence felt in the German market.

          ChannelSight is another great example and is one of the fastest growing Irish start-ups in 2021,” she says. “Their software is used by hundreds of brands across 65 countries, and they have experienced particularly rapid growth over the last year as the explosion of online retail has prompted brands to invest in eCommerce technology.

          “In the DACH region, it works with multinational brands such as BSH, one of the global sector leaders in home appliances, and Tado, an emerging technology company and European leader in intelligent home climate management. So it is great to see German retailers embracing Irish solutions and seeing significant growth as a result – and these are just two companies of many. For any other businesses wishing to avail of eCommerce opportunities in the Eurozone region, Enterprise Ireland can support them in accessing the market.

          “And in Germany, Austria, and Switzerland, there are distinct pros for Irish companies looking to export as Irish SMEs are tech savvy, and digitisation is on top of the political agenda in German-speaking markets. As well as that, Irish companies react fast, deliver on time and are quick to pivot when hardship strikes – this reactivity and reliability goes a long way when doing business in the DACH region.”

           

          Research is vital

          But despite the fact that there is an Irish advantage in the region, the market executive says that buyers have high standards and Irish companies need to be able to show their commitment to the market and come prepared if they are to win business.

          “The value proposition needs to be clear, well-defined, and specific in order to make an impression,” she advises. “And as a Market Executive in Enterprise Ireland’s Düsseldorf office, my role involves supporting Irish client companies to access market opportunities in the DACH region – so market research, buyer introductions and in-market connections are all areas that we can assist with across the whole Eurozone – even in the virtual environment, securing some face time with the right decision maker can go a long way.

          “This is why we built a virtual 1:1 networking into our digital Consumer-Centric eCommerce event which took place on June 10th. The event was all about the German perspective on the eCommerce market right now, looking at the trends, pain points and opportunities the future will bring in this area. It’s an exciting time to be selling online and it’s going to ignite some big conversations and we wanted to accommodate that.”

          Enterprise Ireland’s Market Research Centre offers world class market research reports to help inform market strategy. To find out more about doing business in Germany, visit our German Market page.