Market Entry title and businesswoman image

Export Journey: Step 5 – Market Entry

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Market Entry title and businesswoman image

Your next priority is for the execution of your company’s vision within new export markets. Key to this will be preparing the company for this change and subsequent increased demand from and servicing of new export markets.

Consideration for a successful market entry should include;

1.Identify and allocate adequate resources such as:

    • Financial resources i.e. cash required to sufficiently support overseas exports
    • Additional equipment or fixed assets needed to increase volume or backup global sales
    • People, including staff, suppliers or other valuable relationships in Ireland or overseas

2. Defining where your first sales will come from

Will your customers be a distributor which imports in larger quantities, or an overseas agenct or representative acting on your behalf or will it be a separate trading company of your own business?

3. Developing your lead generation strategy

Supports will need to be assigned to generate business leads. Will they be predominantly offline, online or a hybrid?

Offline: fairs, events, conferences, network meetings or

Online: website, social media, blogs etc.

You will need to qualify and validate the leads, managing them through a Customer Relationship Management (CMS) system such as Salesforce.

4. Marketing and communications

Implementing a successful marketing and communication plan is vital for sustained sales in export markets.

When developing a plan, it is important not to do a ‘copy and paste’ of the same marketing strategy from your domestic market as these are likely completely disparate territories. While it is logical that you should retain your company values and purpose, you will need to adapt your marketing and communications strategy to your new export market

5. Implementing a sales process

By implementing a sales process, you are creating a set of logical, repeatable steps that your sales team goes through to bring a potential buyer from an early stage of awareness to closing the sale. There are various stages that need to be considered in developing an effective sales process, such as;

a) How will your company cultivate your sales leads?

b) What preparation will you commit to in order to be ready to capture an overseas sale?

c) What will be your sales teams approach to a prospective buyer?

d) How will you adequately present or pitch your sales in an overseas market?

e) Is your team setup to deal with buyer objections or queries?

f) Have you experience in closing a sale in an overseas market?

g) What follow-up work will be done post buyer presentation?

6. Relationship building

Relationship building is a key factor in developing sustained sales in export markets. Any company considering to expand globally is undoubtedly looking for a return on their initial investment, and companies looking for better business returns are strongly encouraged to place an emphasis on relationship building.

Companies can quite often focus on the transactional, revenue generation portion before they consider relationship building. However, as is the case in much of the world, relationships based on mutual respect and trust outplay singular transactions. Relationships need to be worked on and require different approaches for different markets.

Take the next step in the Export Journey

Market Watch – South East Asia

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Overview

• Many countries in South East Asia have made a successful return to business
• Travel restrictions had posed problems for businesses selling into the region, but goods are moving again.
• Critical supply chain companies are ramping up production and capacity to meet increasing demand
• Opportunities are continuing to arise, particularly in Digital technologies, Life Sciences, Telehealth, and Industrial sectors
• Life is beginning to return to normal.

Every industry across the world has been impacted by the effects of Covid-19. But while there is undoubtedly still a long way to go, business is beginning to return to some sort of normality and Kevin Ryan, Director of ASEAN, says much of South East Asia has made a cautious, but successful return.

“Business is definitely getting back to some semblance of normality, but things are a little different,” says Ryan. “In Singapore, we are now in Phase 2 of the ‘Circuit-Breaker’ measures and most businesses are now allowed to return to office environments. But the message remains consistent and to work from home where possible.

“Politically there is a history of stability and longevity here with governments making long-term plans which are carried on by successive ruling parties and this is very beneficial to the economy of the region.”

With experience of the SARS epidemic in 2002-2004, the governments of SE Asia have been methodical in their management of the Covid outbreak and this has proved crucial in the successful reopening of business.

“During the phased approach, the return to work was carefully managed,” says Ryan. “And around the region, key markets are opening up and demonstrating strong ownership in managing business and movement of goods.”

So with the effects of Covid shaping how people work and interact, the ASEAN director says strong sectoral opportunities have emerged.

“The Future of Work and the Digital Workplace is a very interesting development and client companies see big potential across the Asia market,” he says. “Here you have huge centres of populations, with Banks, Insurers and Tech companies all requiring teams to work remotely and embrace innovative solutions.

“From the Life Sciences sector, there is significant interest and demand for services which offer innovative solutions to help eliminate the effects of Covid. And the crisis has shown how reliable technology can be and has forced governments to take a fresh look at implementing digital health solutions in their regions.

“Consumer Retail is also playing out strongly with the likes of Water Wipes and Pestle & Mortar being two good examples of clients gaining traction in Asia.”

But most businesses, regardless of sector, are focused on saving cost, generating additional ancillary revenue streams and using technology to help prevent Covid in the workplace.

“Businesses are very keen to understand how technology can help them combat the pandemic and keep staff safe,” says Ryan. “We’ve had strong engagement with companies who see the value proposition, most notably with the likes of Novaerus who have a proven air and surface disinfection device. While companies such as Combilift have proven capabilities in an industrial space, helping to eliminate waste and enabling companies think more efficiently.

“Our clients are constantly looking at new ways to offer unique solutions to companies, which are now struggling with their traditional business model. And we are seeing success and increased interest in companies such as Good Travel Software (GTS), which allows OEM car manufacturers and car companies opportunities to tap into additional ancillary revenue streams they wouldn’t have considered before.”

But one of the real strengths of Enterprise Ireland is its network overseas.

“We are the gatekeepers making sure clients are ready to make the leap,” says Ryan. “We also work with them to break down any barriers – geographically and culturally.

“So on a positive note, we’re definitely seeing greater availability and access. Prospective buyers in the region are realising that unless they open their minds and are willing to think innovatively, they will face the prospect of losing opportunities to their competitors, and in this climate that could prove fatal. Irish companies have a long history of being innovative and entrepreneurial and business in Asia is very responsive to this.”

The SE Asia region encompasses 10 countries with a population of circa. 650m people and Ryan says the market is very much open with he and his team engaging regularly with client companies to support a successful entry into the region.

“Ireland, in comparison to some parts of Asia, is small, and our team works extremely hard on selling a consistent Irish message,” he says. “We have strong success in opening doors and creating opportunities and our reputation across the globe is superb with Ireland’s expertise in Asia shining through from the perspective of innovation and quality.

“So there is light at the end of the tunnel, and we’re encouraging clients who have a product ready to go, to engage in Asia as we are laying the groundwork for opportunities to be realised in 2021 and beyond.”

Get key insights on the supports available from Enterprise Ireland.

Evolve UK Podcast – Digital Technologies – meet the team

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

Every month, we will be bringing you our ‘Meet the Team’ podcast segment. In these episodes, you will get to know our sector teams on a personable level and find out more about the clients and sub-sectors they work with.

This episode introduces our Digital Technologies team of Padraic Geraghty and Sarah McNabb.

 

 

 

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

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.

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.

Celebrating half a century in Belgium

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Established in 1971 as the Irish Trade and Technology Board Belgian department, the Enterprise Ireland office in Brussels is celebrating its fiftieth birthday. And while there have been many changes in the five decades since its opening, one thing has remained constant and that is the level of support and assistance Irish companies continue to receive as they enter and scale the Belgian markets.

There has long been a strong relationship between the two countries and Richard Engelkes, Interim Manager of Enterprise Ireland Benelux Region, says for Irish companies wanting to expand their portfolio into Europe, Belgium, with its large ports at Antwerp and Zeebrugge, is the gateway.

“Belgium is Ireland’s second largest trading partner globally (the first being the US), with a total of €17.8 billion in 2020,” says Engelkes.

“In fact, it goes both ways as imports of Belgian goods to Ireland was €2.4bn in 2020 – so there is a very good bilateral trade agreement between Ireland and Belgium.

“Equally important for Irish exporters, Belgium is the 4th largest export market in the Eurozone and the 8th largest globally. The EU, in particular the Eurozone, is of great importance to Irish exporters as its proximity, the single market and single currency, a large customer base, supply chain patterns and our longstanding relationship are just some of the reasons why the region is crucial.”

 

Location is key

And, according to Engelkes, thanks to its location at the heart of Europe, Belgium, is key.

“It boasts four ports, three airports, very good rail and road links and water connections, making it a gateway for markets all across the zone – it is also the headquarters of the European Union and NATO,” he says. “So continuing a strong business relationship with Brussels is very important for Irish companies.

“And despite the difficulties faced by every sector during the pandemic, the world is slowly rebuilding and there are many opportunities for Irish SMEs wanting to enter the market or scale their business in the Benelux countries and beyond. There is already an advantage for Irish companies as their reputation is good, with many firms well established in the pharma and life sciences sectors. There is also a lot of opportunity in the construction sector as well as engineering, precision engineering and packaging. Hydrogen is also a growing opportunity and there is a strong interest in building smart cities with an emphasis on sustainability, so innovative solutions will do well in the region.”

A reputation for innovation

The acting regional manager says innovation is something which Irish companies are known for, so this reputation is advantageous to firms who are looking to enter the market. They are also known for being flexible, reliable, and adaptable, qualities respected by Belgian companies.

“Irish firms have also shown a strong commitment to EU standards and regulations as well as being adept at solving complex technical challenges.” says Engelkes.

“But I would say that while for the most part, doing business in Belgium is similar to Ireland, the main difference is the language (with French, Dutch and German spoken). So Irish firms doing business here, should be aware that although most Belgians are highly proficient in English, it is advisable not to assume so and to at least attempt to learn a word or two – this will serve as an icebreaker and can be very helpful in building a relationship.”

 

Enterprise Ireland support

Irish companies which are already established in Belgium include RKD Architects, PM Group, Combilift, CXV Global PPI Adhesive, and DPS Engineering, to name a few – and the role of the Enterprise Ireland Office in Brussels is to assist companies like this in scaling their business but also to help others enter the market. This could involve market research, consultancy, getting involved with events (live or virtual), introductions and promotions or publicity – so if they have an idea, Richard and his colleagues can help with getting it into newspapers and online.

“We also work in conjunction with our Enterprise Ireland colleagues in Amsterdam and have strong relationships with the Embassy of Ireland in Belgium, the Embassy of Belgium in Ireland and the trade agency, Flanders Investment and Trade, as well as close cooperation with Belgian ports, such as the Port of Antwerp and Zeebrugge,” he says.  “In addition to this, Enterprise Ireland also supports expansion into the Eurozone with award-winning training courses, which are available to clients.

“Robert Troy, Minister for Trade Promotion, opened an Enterprise Ireland webinar in March, entitled ‘Belgian/Irish trade:  Maximising Trade Flows in a new European Union’. He also visited Antwerp in May which shows the Irish government’s dedication to fostering strong bilateral trade relations with Belgium.

“So, after 50 years in Brussels, the future for Irish businesses continues to look bright and we at the Enterprise Ireland office, are looking forward to continuing success for the next 50 years and beyond.”

Click here to learn more about trading in Belgium or download our Going Global guide.

Global Ambition – Industry Insights webinar series

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Enterprise Ireland will host a series of Global Ambition – Industry Insights sector focused webinars for clients, to deliver market intelligence on the evolving international export opportunities across global markets. The five sector market webinars will focus on:

  • Construction – 15th September, 9:30am – 10:45am

  • Lifesciences – 15th September, 2pm – 3pm

  • Travel Tech – 16th September, 3pm – 4pm

  • Agritech – 17th September, 11am – 12pm

  • Consumer Retail – 17th September, 2pm – 3pm

 

This webinar series will draw on Enterprise Ireland’s unique insight into key markets for Irish exporters lead by the Market Advisor in that sector and will explore crucial issues such as relationship strategies and the shift in consumer behaviour in the context of Covid-19.

You can register using this link. You can register for multiple webinars and all registrants will receive a copy of the webinar recording and slides.

Webinar – Opportunities in Human Pharma

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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