Enterprise Ireland’s top tips for entering the German market

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Germany is Ireland’s second-largest market for services exports and its fourth-largest market for merchandise exports, offering the twin benefits of zero currency risk and close geographic proximity.

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

    • Expect 1-3 years’ timeline for market penetration in Germany
    • The transportation infrastructure in Germany is one of the best in the world and includes international freight arriving in the 3 biggest harbours, namely  Hamburg, Bremerhaven, Wilhelmshaven. Germany also boasts 16 international and 20 national airports, a well-established railway system, and a world-class road network.
    • “Me-too” products are difficult to get established in the German market. Innovative products are more likely to gain a market share
    • Innovative products with a focus on energy-saving and cost-saving for the automotive, life sciences, agri-tech, software and engineering services market will be attractive as Germany leads in these sectors.
    • Buyers in Germany tend to purchase goods and services from all over the world but prefer products offered in Germany; even if they are at a higher price. Customers trust homemade products and services more than those found abroad.
    • Import tax is “0” for goods imported from Ireland to Germany and sales taxes is at 19% on goods and services;  7% for food, hospitality etc.
      • (VAT will be reduced from 19 per cent to 16 per cent for six months starting in July as part of a stimulus package to speed up Germany’s recovery from the coronavirus shock. A lower VAT rate for hospitality would be cut by two points to 5 per cent over the same period.)
    • Germany is currently experiencing a shift in consumer demand for sustainable products, products from the region, health products.
    • Irish firms should invest in marketing, staff, legal and tax consultancy, language localization before entering the market
    • Meeting in person is important in Germany but you must first establish a formal exchange in writing. There are a range of social norms you should know about, always keeping in mind “the client is king”: 1) find out if the client contact is comfortable to hold the meeting in English or prefers  German (if needed have a German translator at side). 2) Use the formal salutation -3) Business first then if time allows and desired by the customer – small talk (but not too intimate).
    • 500 Irish firms are already active in the German market thanks to EI assistance, contact the local Manager Manus Rooney who will lead you to the sectoral market advisors in Germany.

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

    A person gathering market intelligence by analysing graphs and statistics on a sheet of paper

    Using market intelligence to inform your export plan

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    The saying that ‘knowledge is power’ is certainly true of successful exporting. Companies must use market intelligence to understand their customers’ requirements, cultural considerations, market trends and what competitors are doing, in order to succeed.

    Insights gained from high-quality market research are essential for good business decisions for companies with the ambition to grow, export and, indeed, survive. While successful products and services are built on sound market research, a continual process of keeping up-to-date with business intelligence is required, which can be time-consuming and costly.

     

    Market Research Centre

    That is one reason Enterprise Ireland’s Market Research Centre is such a valuable resource. It is the largest repository of business intelligence in Ireland and contains thousands of world-class market research insights, available to Enterprise Ireland supported companies.

    Reports include company, sector, market and country information, which help businesses to explore opportunities and compete in international markets. We use databases from blue-chip information providers such as Gartner, Frost & Sullivan, Mintel and others, which provide authoritative, verified information that is independent and reliable. Some of these reports cost tens of thousands of euro individually, so the value of accessing the service is immense.

     

    Using market intelligence to assess new markets

    The Market Research Centre is staffed by information specialists who help clients locate the most appropriate sources of knowledge for their requirements. The specialists can track down niche market intelligence that is not available through internet research and can also facilitate access to industry analysts to provide bespoke briefings that deep-dive into subject areas.

    While the UK and European markets remain vitally important for exporters, increasingly diversification into more distant markets is a strategic option. Critical to all such business decisions is access to authoritative market research.

     

    Using insights to make an impact

    An example of how the centre helps companies to explore opportunities in overseas markets is workforce travel company Roomex. Over the last two years, the company has targeted the UK and Germany and is now looking at the huge potential of the US market. Information specialists helped the company gain valuable insights by providing access to global company, country, market and sector data which helped the Roomex to analyse their target customer and competitor base.

    Enterprise Ireland’s research hub offers access to extensive predictive research on future trends, which is invaluable for companies interested in innovation. Knowledge of what might impact a market next provides an opportunity to develop new products or solutions. There are huge opportunities arising from disruptive technologies, such as driver-less cars, but also risks to companies which are not looking ahead.

     

    Growing your business using market intelligence

    Companies which are serious about exporting, growing and future-proofing their business should put continuous research at the heart of their strategy.

    If your company is considering expanding into new markets the Market Research Centre’s extensive resources and expertise should be your first port of call.

    Contact the Market Research Centre today.

    Sustainability – Sisk Talks Success with GreenPlus

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    The relationship between the construction industry and the built environment and consumption of natural resources on the one hand and sustainable development on the other is both complex and significant.

    Established back in 1859, John Sisk & Son – Building and Civil Engineering Design and Construction Services is one of Ireland’s most recognisable companies in the sector.  Headquartered in Ireland, with operations across the UK and Europe, the company places a strong emphasis on performance, quality, teamwork and a ‘hands-on’ management approach.

    Sisk were the first contractors / builders in Ireland and the UK to achieve ISO 50001 certification in energy management. Their decision to become involved with the Enterprise Ireland GreenPlus scheme “really opened our eyes to the whole scope of energy management in our industry which until then had been very much overlooked,” explains Sisk Group Energy Manager, Ian O’Connor, who is recognised as an international leader in construction sustainability and was named ‘Private Sector Energy Manager 2020 at the EMA (Energy Managers Association) awards.

     

    “It was very enlightening”

    “It started with ISO 50001 but we took our initial learnings from this, developed them further and expanded our scope to take a more forensic approach to monitoring our energy use.  This identified areas of significant energy savings.  We started to measure but realised we needed to know more. We needed to analyse our energy use – when it was used, how much was being used and which processes were using the energy.  It was very enlightening”.

     

    21 Targets Linked to the SDGs

    Last year Sisk launched their 2030 Sustainability Roadmap ‘Building Today, Caring for Tomorrow’.  Within that there are 21 clear and ambitious targets linked to the UN Sustainable Development Goals. “Industry collaboration is an important part of this. While we set these targets, we alone can’t achieve them.  We need the supply chain and our suppliers to come along on this journey with us. A rising tide lifts all boats and by doing this we hope to lead the way and we want people to join us on the journey.”

    Ian O’Connor is adamant that visibility and clear messaging of the Sisk vision is the way forward.  “We are very keen to demonstrate to all stakeholders of our business – clients, our employees, subcontractors, communities – what we are going to do to care for the environment in which we work.  We plan to be fully carbon neutral by 2030. By 2024 50% of our fleet will be electric and by 2030 there will be no combustion engines within the fleet”.

    The company also has some exciting and innovative ideas around digital technology, innovation and biodiversity.  In 2029 the business celebrates 170 years and to celebrate plans to plant a massive 1.7 million trees by 2030 in Ireland and the UK.  The first of those trees was planted in April this year.

    Advising other companies of the benefits of getting involved with the Enterprise Ireland GreenPlus programme he states:

    “I would say it’s really important to know where you are at the moment. Get a baseline and measure your impact on the environment, on energy use and on carbon emissions.  Set targets and then develop an action plan to start achieving those targets,” he recommends.

    Ian O’Connor acknowledges that in addition to the help from Enterprise Ireland GreenPlus, the achievements to date wouldn’t have been possible without everybody at Sisk.  “We wouldn’t have had the launch of our roadmap if support hadn’t come from the very top – from our shareholders to our forward thinking management team and the ‘boots on the ground’ and staff in the office.  Ultimately, most of the people that work at Sisk are based on construction sites these are the people that will have a huge contribution to our efforts” he said.  “We know that our targets are ambitious but there is a climate emergency and we hope Sisk can play a significant part in overcoming this challenge.”

     

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

    Life Scientific: Partnerships powering success in a highly-regulated sector

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    The story of Life Scientific is one of perseverance in a complex industry, ingenious methods to prove a novel concept, and a leader with the utmost respect for the process and the people involved.

    Nicola Mitchell is the founder and CEO of Life Scientific: a company that develops high-quality, off-patent crop protection products, giving farmers a speedier, cost-effective option.

    We spoke with her shortly after she was announced as an EY Entrepreneur of the Year finalist to learn about the woman at the helm, the remarkable story of Life Scientific, and how Enterprise Ireland supports helped the company along the way.

    “Samantha Power is actually my first cousin,” Mitchell says as she describes the strong women in her family as her major influences. “Samantha’s mother really influenced me when I was younger. She went to the States, and was the first woman in Ireland to get a high court ruling that she was allowed to bring her children with her.” Vera Delaney, the Irish-American academic, author and Democratic Party member’s mother was a nephrologist who, after tenaciously climbing the ranks in a male-dominated sector during the 1970’s and 1980’s, refused a top job in a Manhattan hospital because it would mean giving up the face time she had with her patients. Mitchell cites this integrity as powerfully influencing decisions she made throughout her career.

    She credits her collegiate and later employment choices to her father, whose footsteps she followed by studying chemistry. He cautioned her not to accept a post in a large multinational corporation, but instead get a job in which she could learn and eventually build her own business. “In Ireland, for chemists, it’s all about multinationals, you’re doing manufacturing but have no sight of warranty or business aspects; you don’t do global stuff.” Her father had been what she describes as ‘a cog in a wheel’ in large multinationals, and Mitchell decided that she didn’t want to miss out on being global. “Why can’t we build a multinational in Ireland where we get to be global, where we get to do the R&D, where we get to build the brands?” With Life Scientific, Mitchell would go on to disrupt the regulatory landscape for off-patent agrochemicals from the unique R&D base she had built in Ireland.

    After spending 10 years working in a generic agrochemical manufacturing company, absorbing everything she could, Mitchell set her sights on starting her business, knowing that it needed to manufacture something of true value. “I started Life Scientific in 1995 and from the get-go knew it couldn’t be a service business. If you really want to be big, you have to have products, that’s how you’ll scale, that’s how you’ll be exponential.”

    Building a company with an expert offering

    Two decades of learning the tricks of the trade from leading multinationals allowed Life Scientific to pinpoint precisely where it was strong, and where it could add the most value. “We knew that if we’d built the capability around regulation — a new field at the time — we could not just understand it, but know more than anyone else about a very complex, strategic area of the industry.”

    Mitchell was always drawn to complexity. It’s what led her to challenge her team to reverse engineer the Coca-Cola recipe; to prove that they could not only take apart and recreate it but that they could take a fresh view with their product offering. In proving the point, they showed that they could offer farmers an identical product at a lower cost, and get it to them sooner being first to market.

    Mitchell is quick to point out that it wasn’t just about capability; it was also about humility. “There’s a phenomenal level of innovation and professionalism in our industry, and it’s a privilege to be in it. So why would we think we could do anything better than the multinationals?”

    Changing the rule book

    Challenging the status quo meant more than having an impressive story to tell, it meant calling for the rules of the game to be changed, rules that to date, had been largely written by and for the big multinationals. The world is new; we have capabilities here we didn’t have before. We have an LC-MS [liquid chromatography-mass spectrometry] system that wouldn’t fit a room when I was growing up, that was almost prohibitive for a multinational or a university to have. Now, they sit on benchtops, and we can’t keep up with the capability. We had to take a fresh view.”

    With a value proposition that was impossible to contest, doors that were to-date slammed shut began to open. The multinationals could no longer deny the science or the methods, and the business side of things started to make sense. “They could see we were much more nimble, flexible, fast, and entrepreneurial. So we’ve got some very good contracts, and that allowed me to pivot the model.”

    Yet even with new contracts in place, Life Scientific felt the squeeze from the regulators. With the weight of a global brand and status behind them, the multinationals would attempt to get Life Scientific’s products withdrawn. “Multinationals are very clever, and they don’t want us really, we’re competitors.”

    With an identical product and a transparent business came a sort of freedom; an ability to operate by different rules. “Regulatory submissions are complex. Knowing how to communicate, giving them a sense of who you are, your integrity, that you want the best, that you believe in your role as being a competitive choice for the farmer. So we thought if we put in the identical product, they don’t have to do any evaluation. If we can get them to accept an identical item molecularly, aren’t we simplifying things?”

    Life Scientific ended its beginnings as a contract research organisation, offering services in product development and regulation, becoming an independent product company. “We got our first product authorised in France in 2012 and have gone from €2 million in revenue to €60 million today.”

    Not the average day-to-day

    Mitchell is proud of her EY Entrepreneur of the Year nomination and hopes that in entering the competition, she can raise the profile of Life Scientific and the innovative science they have developed.

    During these turbulent times, the company is lucky to be mostly unaffected by COVID-19. They are operating in a space with one selling season, and thankfully, that had come and gone by the time the pandemic hit. Mitchell tells us that it has given companies like Life Scientific the opportunity to be appreciated once again. “The link between science and nutritious, sustainable food got lost. But now it’s becoming valued again.” But she feels that culturally, the company is suffering and will continue to suffer until they can operate together again. “Normally, I just look at somebody, and we have 10 ideas. Now I can’t see them, and for the new people coming in, who would normally absorb the energy and mimic what they’re seeing, that’s gone.”

    Partnering for a successful future

    Mitchell continues to look confidently towards the future. Her focus is on nurturing close relationships with company partners: the customers, suppliers and regulators with whom she speaks daily. Keeping these relationships blooming allows her to set and realise big goals, work with the best, move fast and scale.

    “In the next five years, we’ll be at €250 million. We’ll be building capability, relationships and new markets. It’s quite a visible roadmap.”

    Life Scientific will build important relationships in the area of big distribution to open up new markets; specifically, North and South America, though with different strategic approaches.

    “We work with the best which will allow us to realise South America, which is rapidly growing and hugely exciting for us.”

    For distribution companies in the already-established North American region, Life Scientific is offering the technology and putting the choice of operating or failing in the distributor’s hands. “We’re offering mirror images of the multinationals’ latest and greatest products to do with them what they will, working on their side to empower them in the face of big multinational suppliers.”

    Supported by Enterprise Ireland at each step

    Along the road to success, Mitchell says that the support she received from EI has been indispensable. “They gave us our first R&D grant, they’ve helped us and believed in us since 2006.”

    As well as financial grants, Mitchell took part in EI’s Leadership 4 Growth Programme and International Selling Programme, which she says equipped her with the knowledge she needed at the time. “The programmes have been hugely influential, connecting with people who are at the top of their game can set you upright.”

    Currently, as well as working towards adopting Enterprise Ireland’s Agile Lean approach, Mitchell is thinking about what winning the EY Entrepreneur of the Year award would mean. She tells us that it would provide visibility for Life Scientific and for anyone like her who had no expectations at a young age. “I’d be an ambassador for girls like I was: if you see it, you can be it.”

    Click here to watch the opening of Enterprise Ireland’s International Markets Week 2020, featuring Nicola Mitchell.

    Enter the Eurozone

    How Enter the Eurozone is helping Irish companies just like yours to do just that

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    Companies all over Ireland are winning new business across Europe with the help of Enter the Eurozone, an innovative business development programme from Enterprise Ireland that provides tailored market entry support.

    The five-month programme was launched in 2019 and is currently on its fifth intake.

    To date 102 companies have come through it. Of these 37 have taken steps towards operating in European markets.

    “When you consider that typical business to business cycles take 18-months to complete, and that the bulk of participants have been on the programme during Covid, that’s a remarkable success rate,” says Paul Browne, Programme Manager International Partnering at Enterprise Ireland, who runs Enter the Eurozone.

     

    Opportunity on your doorstep

     

    The programme is designed to help Irish companies take advantage of the fact that one of the most dynamic, prosperous and stable markets in the world is on their doorstep.

    “As a region with a population in excess of 340 million, the opportunity the Eurozone presents to Irish business is enormous,” he adds.

    “Yet we are still merely scratching the surface. Despite the fact that the Eurozone has five times the population of the UK, it has less than two thirds of the exports from Irish companies.”

    Brexit has encouraged many businesses to see the Eurozone with fresh eyes, appreciative of the fact that it offers a single market, freedom of movement for people, goods and services, a single currency, regulatory alignment and zero customs barriers.

    “The Eurozone offers significant and untapped opportunities for Irish companies and Enterprise Ireland has developed a unique programme to help you take advantage of them,” says Browne.

     

    Market entry plan

     

    The five-month programme opens Europe’s doors to ambitious Irish exporters. It is delivered by ESMT European School of Management and Technology, Berlin, Germany’s number one business school.

    It is supported by IMS Marketing, seasoned providers of one-to-one business advice for those developing a European market entry plan.

    “In developing the programme, we recognised that while management teams know training is great, what they really want to know is what will it mean for their business,” says Browne.

    “So, at the end of this programme, each participant comes out with a clearly defined market entry plan bespoke to their business. It contains clear, practical steps which, if taken, will see them win contracts abroad.”

     

    Enterprise Ireland’s Eurozone team, based in market, then works with the client to help them to execute that plan, backed by its network of in-market expertise.

     

    Unique products and services sought

    Irish companies have unique products and services in an array of areas, including software, data centre systems, medical devices, and ag-tech.

    “We take for granted that our companies are exposed to US multinational companies without realising that it gives us enormous advantages in terms of experience, standards and service levels. Irish companies are already selling to the best in the world at home. That level of expertise and experience is sought all over Europe too,” he adds.

    Campion Pumps in Tipperary used the Enter the Eurozone programme to develop a market entry strategy for Italy.

    Its experience in pumping equipment led it to develop software that allows pumps to communicate with computers. It has hundreds of pumping station customers linked to its cloud-based server. What’s innovative about its solutions is that its software can work with anyone’s equipment, providing it with a valuable USP (unique selling point).

    Having a unique solution is hugely compelling, in any market, says Browne. “If I go to a potential customer in, say, the Netherlands, the first thing he or she will say to me is ‘Why should I buy from you, when I’ve five guys down the road I could go to? But when you go in pitching something that is innovative and unique, why wouldn’t they talk to you?”

    In Leitrim, Archway Products already had success working with local authorities in the UK, attracted by its highly innovative, cost effective and environmentally sound processes for fixing road defects.  The inventor of the Roadmaster Spray Injection Patching machine, which fixes all types of road defects, is now gaining traction in Germany too.

    Shamrock Farm Enterprises, a maker of equine and agricultural supplements, also in Tipperary, recently secured a distributor in France.

    Louth firm Aphix Software has developed an integrated suite of eCommerce and mobile ordering products.

    “Any solution that helps with stock control, and whose software helps you move online, is a pitch to which a lot of companies across the Eurozone are very open to now,” says Browne.

    Applied Concepts, Ireland’s sole manufacturer of CE approved blasting machines, has already developed an international presence, driven by innovations such as a compressed air machine that sits on a tractor and uses less carbon.

    “Ireland is already renowned for food, so if you are going to Europe and say your farm equipment is terrific too, people will listen,” says Browne.

     

    Start your export journey

    His message to innovative Irish businesses looking to start their export journey is clear.

    “Enterprise Ireland is very open to helping companies that want to export. We have a range of programmes and workshops to help, including Enter the Eurozone. Remember, it’s companies like yours that are doing this, so get in touch,” he adds.

     

    To find out how you could expand into the Eurozone, see our Enter the Eurozone Programme.

     

    A young man in a warehouse using his laptop to research his EORI number

    Customs – What is an EORI Number used for?

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    The Economic Operators Registration and Identification (EORI) number allows businesses to import or export with countries outside the European Union. It is a unique reference number recognised by all EU member states and is a requirement on all customs declarations.

    First introduced in 2009, the EORI number is a common reference number for interactions with the customs authorities in any EU Member State. All Irish numbers are prefaced with the prefix IE and contain eight characters. It is closely aligned to your VAT number but requires a separate EORI registration with Revenue.

     

    Register for your EORI number

    To obtain your number, companies can register directly through Revenue. If you are already registered on Revenue Online Service (ROS), you can register within a matter of minutes. Once the registration is complete, the number is active immediately.

    If you believe that you already have one, this can be verified by simply checking the EORI number validation service. Insert your VAT number prefixed by “IE” and select validate.

    Revenue has support for companies that have questions about their process. Visit Revenue’s website for the relevant contact details.

    Key questions to ask at your German Market Advisor meeting

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    Successfully selling into the German market earns you credibility internationally and can be a gateway to many other overseas markets.

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

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

      • What is the awareness of Ireland in Germany?
      • 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 the German market?
      • What local competitors are active in Germany?
      • What taxes, charges or hidden costs should I be aware of?
      • Are there any social/political instabilities in Germany that could affect my business here?
      • Are there any environmental instabilities in Germany that could affect my business here?
      • What social norms should I be cognizant of when engaging in meetings with local people?
      • Will I need to set up an office in Germany?
      • Will I need to hire local staff?
      • Can I relocate Irish staff in this region?

      Set up a call with our team in Germany today

      For more, download our Going Global Guide 

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

      Market Watch Industry Bulletin – Automotive

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      The spread of the coronavirus led to an unprecedented collapse of many important car markets in terms of producers, their suppliers and the distribution channels across the globe . Work came to a standstill in almost all countries. But as severe as the slump was initially, the return of production is currently giving the industry hope. A large number of vehicle manufacturers and their suppliers were able to resume operations, albeit only to a limited extent. In addition, stabilization strategies and aid packages have been developed in recent months.

      In this latest industry bulletin, Enterprise Ireland has primarily surveyed leading market experts and industry leaders, and collected their views, gathering specific recommendations for companies, to stabilize, reset and recover from the current situation.

      Read the full report here.

      Stryve makes strides in Poland

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      Poland has made huge progress in recent years to become a regional ICT powerhouse. Its economy has been growing for decades, even after the financial crisis, and large educated population attracted investments in new sectors such as global business services that in turn drove growth of ICT skills and infrastructure. Exports of ICT services have been steadily increasing from €3.2bn 2014 to€7.7bn EUR in 2019.

      Growth of the ICT sector will be accelerated even more with news from Google and Microsoft announcing that they will build hyperscale data centres in Poland, their first in CEE region. Microsoft’s $1bn investment in the data centre in Poland will also cover creating critical skills and learning opportunities for an estimated 150,000 employees, partners and students. The skills development program will include training, e-learning programs, workshops and hackathons on cloud computing, developing with AI and machine learning technologies, big data and the Internet of Things (IoT). Since Google is planning similar scale of activity in utilizing its data centre, this creates huge opportunities for Irish companies such as Stryve, which as certified experts in Cloud Computing & Data Security has the expertise and products in cloud technologies and cybersecurity that will be essential  for the digital transformation of Polish and international businesses operating in the region.

       

      International Expansion

      While Stryve already had a presence in Poland, the company availed of support from Enterprise Ireland, leveraging their market expertise and local network to gain introductions to enterprise customers and ICT decision makers to drive opportunities for their cloud and cybersecurity products.

      “Poland has established itself as a significant centre for science and technology”. says Andrew Tobin, CEO of Stryve

      “It is a known hub of research and development in the EU, with many companies engaged in information technology and business process outsourcing. Poland in recent years has had one of the fastest growing economies in Europe and has increased demand for cloud services. It is the digital heart of CEE. ”

      Tobin adds “With this in mind, Poland makes an ideal strategic location for Stryve to continue our international expansion.”

       

      Digital Transformation

      2021 is a time of challenge and opportunity for small businesses who want to prioritize their digital transformation journeys. Fortunately, tools that weren’t seen as feasible for small businesses due to costs and resources are now becoming the norm for SMEs, integration of their workflows with cybersecurity is certainly one of them.

      Stryve understands that protecting data is more important than ever with backup literally becoming recognised as the last line of defence for data protection, especially given the increase in ransomware and hack attacks.  The company also recognises and communicates the importance of having a disaster recovery solution in place. Disaster recovery is often mistaken for something that is needed only in the most exceptional circumstances, when something goes wrong or misfortune strikes. In reality, a disaster recovery solution needs to be implemented during ordinary times so that when you truly need it, it can step up to the task and ensure that in the midst of a high pressure situation, losing data is one less thing you and your organisation need to worry about.

      For more information about doing business in Poland download our Going Global guide for Poland.

       

       

       

      Global Recovery. Irish Opportunity

      International Markets Week 2021: Green agenda and digitalisation key areas for growth  

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      Global Recovery - Irish Opportunity

      It’s been said many times that exports are crucial to Ireland’s recovery in the post-pandemic world – and Enterprise Ireland is committed to ensuring that Irish companies take advantage of the many opportunities around the world to increase their business and bolster our economy as a result.

      A crucial event in the Enterprise Ireland year is International Markets Week, and this year, for the second year running, it was held as a virtual event over five busy days in October 2021.

      “When Covid hit, we decided that the event was too important to miss, particularly in the context of a global pandemic,” explains Anne Lanigan, Regional Director, Eurozone, at Enterprise Ireland. “This is a time when it’s even more important for our clients to keep their exports going, so we decided to go onto a virtual platform, with our market advisors available for a full week.

      “The market advisors are the boots on the floor, the people who can introduce client companies to potential buyers, so it’s a very practical week for people who want to do business.”

      This year, the theme of the event was Global Recovery. Irish Opportunity, recognising that the global economy is experiencing significant disruption – but while this disruption brings challenges, there are also significant opportunities.

      “Enterprise Ireland client companies enjoyed excellent overall export growth in 2019 of 8%,  with particularly strong growth in the Eurozone and North America of 15% and 16% respectively,” says Anne

       “In 2020, these figures stabilised, which was a very good result in the context of a global pandemic, but now we need to get back to 2019 levels of growth.”

      Opportunities for Irish companies lie in many areas, including the green agenda and digitisation. Throughout the world, companies are investing in green and digital strategies and governments are putting stimulus packages in place to drive a recovery based on a green and digital future. This investment represents huge opportunity for innovative Irish companies.

      “The current disruption in global supply chains also poses significant opportunity,” says Anne. “The drive by manufacturers in developed economies, in particular, to strengthen the reliability of their supply chains so that they are more easily accessed from a geographic and an administrative perspective, creates the opportunity for Ireland to embed themselves in these new supply chains. Ireland’s location on the edge of Europe puts us in a key position to capitalise on this move towards regionalisation of supply chains.”

       

      Finding opportunities

      It’s clear from this year’s International Markets Week that Enterprise Ireland client companies have recognised the importance of building a robust strategy to take advantage of these growth opportunities. A total of 710 Enterprise Ireland client companies registered for the event, booking a total of 1,663 meetings with market advisors from across the world.

      To get an indication of how companies were faring as the world’s economy recovers from the challenges of Brexit and the Covid-19 pandemic, Enterprise Ireland conducted a survey of the participants ahead of the event. The results were positive: 56% of businesses indicated that they have seen an increase in exports in 2021 compared to 2020, with only 11% reporting a decrease. And, 91% of companies expect sales to increase again in 2022. In terms of trends, the survey revealed that 80% of businesses viewed digitalisation as vital over the next 12 months, while 63% said that advancing their sustainability agenda was a priority.

      These results proved accurate throughout the event, which was officially launched by Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, and Enterprise Ireland CEO Leo Clancy. Lydia Rogers, country manager for Enterprise Ireland in Canada, reported a real hunger in Irish companies to take advantage of the many opportunities out there. “I met many client companies at various stages of their export journey, from those accelerating their international growth and diversifying into new global markets to ambitious start-ups keen to explore the export opportunities in Canada. The week proved that Canada is a very attractive market for Irish companies in many sectors, including cleantech, consumer retail, engineering, life sciences, fintech and BPO, and a large proportion of digital technologies companies.

      “In addition, Canada was also identified by many client companies as an entry point and as a lower-cost gateway into the wider North America market.”

      And, as predicted, the green agenda and digitalisation opportunities were noted by Lydia as strong trends for Irish companies looking to Canada for growth. “Our team met many companies with innovative digitalisation solutions across travel tech, retail tech, ed tech, digital health, fintech, HR & talent tech, and IoT. There were also many SMEs with innovative solutions in areas including cleantech, mobility, smart energy and environment. Consumer retail was also a significant area of interest – a sector that experienced growth in 2020 despite the challenges of Covid-19. All in all, it was clear from this year’s International Markets Week that Irish companies have recognised Ireland and Canada make great business partners and are ready to reap the rewards from this vibrant and welcoming country.”

       

      View the virtual launch event from Enterprise Ireland’s International Markets Week 2021 below:

       

       

       

       

       

      Key questions to ask at your Italian Market Advisor meeting

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      Italy is the third-largest economy in the Eurozone and the fifth largest market in Europe for Irish exports.

      To help you prepare, take a look at our suggestions of questions to ask your Market Advisor.

        • What is the awareness of Ireland in Italy and how is Ireland perceived?
        • What are the core sectors and what sectors should I avoid?
        • Will I need a local partner company?
        • Will I need one or more distributors/dealers if I want to cover the whole of Italy?
        • What kind of obstacles should I expect when entering this market?
        • What is the business culture in Italy? Is it different from Ireland and if so, in what ways?
        • How easy is it to communicate in English? Do I need to speak/understand Italian?  Do I need to have an Italian speaker in the company?
        • 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 the help of a local expert to follow all the procedures?
        • Will I need to hire local staff? If so, how flexible is the labour market?
        • Can I relocate Irish staff in this region?

        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 Italian market can be viewed by clicking the graphic below.

        Ready for a New World: How Modubuild grew during the Covid-19 crisis 

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        Never has there been more need for advice, guidance, reassurance and fresh ideas for Irish companies facing the unprecedented challenges that 2020 has brought, which is why the theme for Enterprise Ireland’s International Markets Week (IMW) 2020 was“Ready for a New World”.

        One of the keynote speakers at this year’s IMW event was Kevin Brennan, the co-founder and managing director at Modubuild, a company that has enjoyed phenomenal growth thanks to large-scale projects throughout Northern Europe. Understandably, the company has faced project delays and postponements thanks to the effects of the Covid-19 pandemic but is still expecting strong growth this year.

        “The way we look at it is that Covid has been a problem but it’s just one of the many problems that you encounter as an international business on a day-to-day or year-to-year basis,” says Kevin. “Our main message would be to remain positive, communicate with your people and continue to service your clients. We don’t see Covid as an excuse not to deliver. It may be more difficult but the world continues on.”

        From small beginnings to big contracts

        Modubuild was set up initially as a small company by Kevin and his business partner John Comerford to take advantage of an opportunity around modular construction, specifically in the area of specialist fire and explosion protection. Clients included Dublin Airport and Limerick Tunnel, as well as some pharmaceutical companies like Eli Lilly, Pfizer & Amgen. The company quickly became specialists in this area and were well poised to deliver solutions for the burgeoning data centre industry that experienced strong growth in the last decade.

        Our first data centre job in Ireland was around 2012, and in 2015, we won our first big international contract, an €8 million contract for a data centre in the Netherlands for the same client. At the time, it was one of the biggest data centre projects in Europe. From then on, the company has skyrocketed in growth, averaging 60% year on year since then. Current year revenue will be somewhere north of €34 million, so all going well, we’d be expecting to go past the €50 million mark next year.”

        Throughout their growth, Modubuild has been supported by Enterprise Ireland, both in terms of grants and advice as they expanded into new countries. “Enterprise Ireland helped us out a lot since we initially branched out into the Netherlands, leading us through issues like tax compliance and putting us in contact with local suppliers, opportunities etc. We also received two rounds of funding to help recruit people. We’ve found them really beneficial in terms of PR; our first office outside Ireland was in Amsterdam, and Enterprise Ireland arranged for Kevin Kelly, Ireland’s ambassador to the Netherlands, to open the office, which attracted a significant amount of PR. The fact that you have an entity like Enterprise Ireland promoting us as an international company alongside some other very successful companies can only be beneficial in raising our profile.”

        Today, the company is headquartered in Kilkenny City, with a manufacturing plant in Castlecomer and offices in Amsterdam, Brussels, Manchester, Stockholm and Helsinki. “Our business is mostly in North Europe, following our clients as they require our services. Lots of data centre activity is located in Northern Europe – our clients tend to roll out different projects across Europe and ask us to come on the journey with them. We’re in the process of setting up in Spain in the next year because data centre activity is increasing there and we are also looking at opportunities in other countries.”

        The plant in Castlecomer is another side to the business. “In Castlecomer, we design and manufacture high-tech modular buildings and can then ship them throughout the world. For example, we’ve just delivered a large turn-key design and build vaccine laboratory for a Global BioPharma customer. We designed, built and tested the entire facility in our factory, while the client was getting planning and preparing the site. We then shipped it to site in large modules and re-assembled the building on site in 10 days, this means our client can have a lifesaving vaccine ready for market around one year earlier than it would normally take.”

        Tackling 2020’s challenges

        Modubuild was in a strong position coming into 2020, which helped the company navigate the two major challenges of 2020 – Brexit and Covid. Brexit, explains Kevin, was something they had prepared for well in advance. “One of the things we did when Brexit first came on the scene was to set up a separate company that operated within the UK. We also took the foot off the pedal somewhat in the UK as it’s a very competitive market and instead focused our attentions elsewhere in Europe – and it’s been a very successful strategy for us.”

        Covid, on the other hand, was a different story. “Covid was something that nobody saw coming. For us, we had seen huge growth coming into the crisis, and we were extremely busy with almost full order books. The biggest impact probably was the temporary closure of some projects, particularly in Ireland because of lockdowns, and that hit our Q2 turnover probably to the tune of 25%. But overall, we’re still projecting strong growth this year, perhaps not at the same level as before Covid, but possibly somewhere north of 30%.

        “We’re lucky that the sectors we work in are all seen as essential – for instance, many of our clients are looking to develop vaccines for Covid and need rapid delivery of vaccine laboratories, which we can build in Castlecomer. Then the data centre industry is continuing its growth at pace, if anything, Covid has meant there is an even greater need for data centres due to video conferencing, remote working etc.”

        Like most other companies, remote working and staying in contact with employees during lockdowns have been challenging. “A lot of our people are mobile and working in different locations so we were well used to communicating through video chat etc, but probably our biggest challenge was missing the interaction of working and collaborating in an office environment. We’ve tried to keep people connected by having regular Town Hall meetings online and doing various other activities online to keep people involved, virtual coffee meetings etc. There was huge uncertainty back in March/April, we noticed many people and businesses around us were panicking, so one of the first things we did as a company was to send a clear out a clear message to our people that we were in a strong position, peoples jobs were secure and we weren’t going to put people on reduced hours, furlough, forced holidays etc. In fact, we stated that we were going to keep recruiting – and that’s what we’ve done, we have continued to grow team significantly to ensure we were ready to take on new and larger projects.”

        In addition, having boots on the ground in Europe has proved beneficial. “We had a couple of hundred people located on projects throughout Europe, and most of them made the decision to stay in those countries during the pandemic rather than travelling back to Ireland every week or two weeks as they would have done pre-Covid. This meant that all our projects stayed operational throughout the crisis, in fact, we actually started a couple of new projects in Europe right in the middle of the pandemic.”

         

        Click here to watch the opening of Enterprise Ireland’s International Markets Week 2020, featuring Kevin Brennan.