Before beginning your export journey you must clearly identify your target market. You may have preferences based on previous experience, understanding of the language or culture or simply some connection with the market, though a good starting point it’s not enough of a reason to export to this market.
Market Research will form the backbone of your export strategy as you begin to validate your plans.
The key elements for consideration are:
What makes your product unique
Who are your competitors in your selected research market?
Who are the buyers in that market?
How does your product compare in terms of pricing?
How is the product sold in that market?
What are the local regulations, certification for selling your product and can you currently comply?
A clear understanding as to why you have selected this market as the potential first market.
What supports are available?
If your business is at an early development stage the Local Enterprise Office has the supports to help you plan, start and grow
If you are are already supported by Enterprise Ireland you can contact your Development Advisor here.
The Market Research Centre provides access to world class research databases to help client companies make better, more informed business decisions. Contact the Market Research Centre here.
Enterprise Ireland hosts events to assist companies’ growth plans – See ourevents calendar for details.
Your positioning strategy should set out what you will do to achieve a favourable perception in your new export market.
Typically companies will try to achieve the same brand positioning regardless of the market. A coherent positioning strategy can be hugely advantageous, so it’s important when reviewing the export potential of your products/goods or services to consider the following:
1. Customer profiles
What is your current USP and will this translate to your new foreign export markets ?
Do you understand your domestic customer profile? E.g. age profile, socio-economic grouping etc.
Are there other significant demographic patterns to your product or service’s usage?
Have you considered the need to modify your product/service to facilitate differences in language, culture and business environments?
How do you plan to deliver your services to foreign markets ? In person, via a local partner or using digital resources?
2. Market Pricing and Value Propostion
Consideration whether any necessary changes to make your product/service more appealing to foreign markets and customers?
If you’re exporting services, what makes them unique within global markets?
Have you benchmarked your services in a global context? Would they be considered to be world-class and stand up to stronger scrutiny?
Have you considered the cost implications of servicing overseas markets? Including FX rates and fluctuations?
Does your product have a shelf life and will this be impacted by time in transit?
Will your packaging have the same impact in a foreign market or can it be easily modified to satisfy new demands?
Are there any climatic or geographic factors that could affect the uptake of your product or service in other markets?
3. Route to Market
Do you need special export licensing or documentation to export? i.e. technical or regulatory requirements localised to the market?
Are there considerations for the safe transportation of your product to global markets ? i.e. specialized containers or packaging materials?
Would transportation costs make competitive pricing a problem?
How efficiently does your target market process incoming shipments?
4. Capacity to support
In the event that your domestic/export demand increases beyond current projections, will you still be able to look after both markets?
Will you be able to serve both your existing domestic customers and any new foreign clients?
5. Further considerations
Do you require a local presence or representation?
Will your products/service require local professional support or can this be done digitally?
Will after-sales service be required ? Can it be easily sourced locally or do you have to provide it? Does you have the resources to provide it?
Are there legal / IP implications to consider when entering global markets?
You are now successfully exporting to your first market. Now begin to build on this success and grow your exports.
You will now have built up a good relationship with the overseas market team and keeping up to date on buyer trends and external factors impacting these trends will enable you to stay competitive.
Factors to consider in your plans to scale exports:
1. Resources
Do you have the necessary resources both in terms of staff and finance to meet the demand of a new market?
2. Capacity
Do you have the manufacturing, packaging, logistics, linguistic capacity?
3. Environmental
Have you considered your carbon footprint; requirements of buyers?
4. Sustainable Growth
How will this impact your current financial standing? Will it strengthen or dilute your position in the market?
5. Adjacent Markets
Is there potential in the adjacent markets where buying patterns, pricing and local regulations may be similar?
How can Enterprise Ireland support your growth?
If you are are already supported by Enterprise Ireland you can contact your Development Advisor here.
The Market Research Centre provides access to world class research databases to help client companies make better, more informed business decisions. Contact the Market Research Centre here.
Enterprise Ireland hosts events to assist companies’ growth plans – See ourevents calendarfor details.
The next step is your export plan. You may have ideas but you need to clearly communicate them in writing so that your whole team is clear on their responsibilities. Having a plan laid out makes it easier to spot pitfalls, gaps and even additional opportunities!
The export plan is also key in seeking supports in term of financing or grants. Don’t overcomplicate it, keep it clear and simple.
The key elements of a successful export plan include:
1. The Vision
What you are going to do. How you are going to do it. What your expected outcome is.
2. Human Resources
Have you the staff, external support and expertise? Have you skills within your team to manage language and cultural differences?
3. Financial Resources
Budget, Sales targets and Pricing – Consider the additional costs involved in selling into the overseas market. Establish a target price for the end user, taking into consideration currency, payment terms, freight and carriage charges, import duties and taxes, commission to partners and competitors’ pricing.
4. Target Market
Why you have selected this market; who your buyers are.
5. Your Product
Your USP and how it translates internationally. Are there external factors which could impact production or sales?
6. Market Entry
Sales channels; marketing plan; regulations, language and local laws.
The Evolve UK webinar series highlights the opportunities for Irish companies interested in doing business with the UK.
This webinar examines how the establishment of a UK presence demonstrates long-term commitment to the market, providing customers and partners on the ground with the reassurance that your business is accessible at all times.
Hosted by Enterprise Ireland’s UK Manager, Deirdre McPartlin with insights from Gerry Collins, ECOVIS.
https://globalambition.ie/wp-content/uploads/2020/11/Evolve-UK-establishing-a-UK-presence-Main-Image.jpg500500Louise Cunninghamhttps://globalambition.ie/wp-content/uploads/2023/04/EI_Logo_Primary_1_300x74_RGB.pngLouise Cunningham2020-11-25 13:58:352023-09-05 15:16:15Evolve UK: Establishing a UK presence
The Covid-19 pandemic saw a rapid shift for many to virtual ways of doing work – and the recognition – finally – that remote and hybrid working is a very viable possibility in many industries. And, that offering flexible ways of working can actually give companies an edge when it comes to attracting talent. Unfortunately, however, with more flexibility comes a very real problem – the increased risk of cybercrime and cyberattacks. And the need for effective cybersecurity solutions is becoming more urgent by the day.
According to a study by McKinsey & Co, only 16% of executives felt that their organisations are well prepared to deal with cyber risk. Plus, the United Nations has warned that cybercrime increased by nearly 600% during the pandemic.
“Globally, there has never been a more challenging time for organisations in relation to cybersecurity,” says Pat O’Grady, Senior Business Advisor and Global Lead for Cybersecurity at Enterprise Ireland. “A higher level of cyber threats and attacks, security challenges linked to remote working, and increasingly sophisticated attacks on personal accounts have all put systems under immense pressure.”
Irish cybersecurity solutions
Ireland has long been a leader in technology innovation, with our advances in medtech, agritech, fintech and more in high demand across the globe. So it comes as no surprise that an increasing number of ambitious Irish companies is coming up with some very clever solutions to cybercrime. As an example, Cork-based Velona Systems has developed a solution that protects large call centres in the US against brute force call spam attacks, ghost calling and robocalling, a growing challenge in this sector.
Velona is just an example of our strength in the area, which is highlighted in the Enterprise Ireland Cybersecurity Innovation Series 2021, which this year is titled ‘Creating Innovative Solutions to New and Emerging Threats’. Taking place over six separate events in November and December, covering different world regions, the series features talks by leading cybersecurity experts, pitches by innovative Enterprise Ireland client companies, and opportunities for individual client-buyer meetings.
“All the participating Irish companies have identified the most urgent areas within cybersecurity and come up with intelligent solutions that potentially have a worldwide customer base,” says Pat. “For instance, one of the biggest issues now is the sharp rise in phishing emails. Cyber Risk Aware is an Irish business offering learning platforms that can build training programmes within Microsoft Office 365 to raise staff awareness regarding phishing and teach them how to spot a dangerous email. The company also offers a phishing simulation platform, which can build email templates and schedule simulation campaigns to test the level of awareness within the organisation and to offer additional focused learning for staff when required.”
Like all good responses to security threats, many solutions are based on prevention rather than cure – and with the cost of cyber crime rising sharply as the attacks get more sophisticated, this is sure to be a massive area of growth. “EdgeScan is leading the way in pen testing, or vulnerability scanning,” says Pat. “This includes scanning company IPs or carrying out pen tests on company websites or client portals to find any potential weaknesses – therefore stopping the threat before it happens.”
Remote working challenges
With remote and hybrid working looking likely to stay in the long term, many companies are looking for ways to boost their security with staff working on devices away from the office and even out on the road. “Remote working has brought with it many challenges; one issue is providing the same amount of security as in the office,” says Pat. “Web and email filtering identifies new malware sites and can block specific categories of websites, such as gambling sites. Galway-based TitanHQ offers advanced solutions for this issue, currently helping businesses in over 120 countries.”
A big issue for companies is our increasing reliance on mobile phones for work purposes – now a company has to look into protecting these as well as laptops and computers. “Many companies have introduced a controlled ‘Bring Your Own Device’, or BYOD, policy in which company apps are locked down or secured on the device, while others have restricted access to only corporate devices to allow for full control. And yes, there’s an Irish company involved in this area too: CWSI are experts in the field of mobile device management and offer guidance on both policy and the technical aspects of managing devices.”
It’s clear that Irish companies are leading the way in cybersecurity solutions. Many companies are finding it difficult to acquire and retain staff with skills in the areas of compliance, ISO certification, incident response, forensics and investigations – and, as Pat explains, there are several Irish companies in a great position to help. “Irish innovators such as Integrity360, SmartTech 24/7, Kontex and Evros are providing a solution to this issue by providing expert security consultant services. These companies’ Security Operations Centre (SOC service) offers uninterrupted monitoring of their clients‘ IT networks.”
Details of the Enterprise Ireland Cybersecurity Innovation Series 2021 can be found here.
https://globalambition.ie/wp-content/uploads/2021/11/GA-cybersecurity-tile-1.png600600Aoife Smithhttps://globalambition.ie/wp-content/uploads/2023/04/EI_Logo_Primary_1_300x74_RGB.pngAoife Smith2020-11-25 13:56:292023-09-06 10:16:34Cybersecurity solutions that address new and emerging threats
As the Brexit transition period comes to an end on 31 December 2020, Irish businesses trading with the UK will need to operate in a new business environment.
To assist Irish companies with their final preparations, Enterprise Ireland in partnership with the Local Enterprise Offices will host a series of webinar briefings to advise on logistics, freight, customs clearance and the critical steps needed to avoid trading disruption on Jan 1st.
The Evolve UK webinar series highlights the opportunities for Irish companies interested in doing business with the UK.
This webinar discuss how businesses are tackling customer communication and customer care during continued Brexit uncertainty with insights from:
Robert Rowlette, General Manager of Archway Products
Alan Croghan, Financial Director of EasyFix
https://globalambition.ie/wp-content/uploads/2020/09/Uk-customer-thumbnail.jpg500500Louise Cunninghamhttps://globalambition.ie/wp-content/uploads/2023/04/EI_Logo_Primary_1_300x74_RGB.pngLouise Cunningham2020-10-25 13:58:372023-09-06 07:06:23Evolve UK – Ready for Brexit: Meeting UK customer expectations
Finding the right person to represent your company internationally is one of the most important decisions you will make. Your company is judged not only by the products and services you offer but by the people who are offering them. Finding the right people to do this at an excellent level is a constant challenge at home and overseas.
Enterprise Ireland has developed this recruitment guide to provide Irish businesses with expert insights on executive search and selection from one the leading executive search companies in Germany and internationally, Signium.
Our team of Düsseldorf-based market advisors are available to help you grow your businesses within Germany, Austria and Switzerland and to advise on the vital process of international recruitment.
Recovery package which invests in Green economy, public transport, sustainable builds and digitisation could be of interest to Irish firms.
The impressive two-year stimulus plan announced in Paris last week puts business high on the priorities list. With the lion’s share going towards a tax cut for businesses, the goal is to spur economic growth and get back to 2019 levels by 2022.
With the global economy in the midst of the worst economic downturn in decades, governments are under pressure to outline individual recovery plans. France — feeling the sting of a 13% contraction — isn’t taking any chances, announcing one of the largest cash injections amongst bigger European countries.
The government’s spending strategy is heavily focused on boosting business to the tune of €34bn. Jobs, health and social programmes which aim to create at least 160,000 new jobs next year will see €36bn of the pot. Finally, €30bn will go towards green transition initiatives which will go a long way to help France meet climate goals without relying on carbon taxes.
The key measures outlined in the recovery plan are:
€20bn in production tax cuts for businesses
€11bn investment to improve transport networks, particularity railways
€7.5bn towards extending the furlough scheme, though limited to the worst-hit sectors and part-time subsidies
As France24’s Senior Business Editor Stephen Carroll notes, the plan has “a little something for everyone”.
The general sentiment among France’s business community is that it will open opportunities, triggering new and innovative projects.
Banking on consumer confidence
Central to the plan is boosting consumer confidence. France argues that incomes have largely been maintained and that households have continued saving during the two-month lockdown period. Encouraging consumers to spend their money, the government believes, will stem primarily from people having job security. They say the focus on business investment will provide that security by spurring and maintaining economic growth.
Green goals
The recovery investment presents the opportunity to make some serious headway on climate goals. Of the €30bn going towards the green transition, €2bn will be injected into the hydrogen energy industry — accelerating a move away from fossil fuels. Almost €7bn will be invested in making public and private buildings more energy-efficient, creating jobs in manufacturing and construction at the same time.
A 40/60 split
The money will come from two sources: 40% from the EU’s Recovery Fund and 60% in affordable loans from the European Central Bank. The government plans to repay loans by 2025 and insist they won’t implement tax increases to do so. The €100bn investment aims to create economic growth which in turn will reduce the debt burden, making repaying easier.
Opportunities for Irish companies
The emphasis on the green economy and digitalisation will undoubtedly trigger major investment projects. Enterprise Ireland Market Advisor for France, Jean-Charles Moczarski, says that Irish client companies with a current foothold in France are well-positioned to take advantage of such opportunities and that the potential is ripe for those yet to enter. “I think it will bring market opportunities within France; it certainly makes it even more worthwhile for client companies to put France on the list of priority export destinations.”
https://globalambition.ie/wp-content/uploads/2020/09/Paris.jpg13652048Louise Cunninghamhttps://globalambition.ie/wp-content/uploads/2023/04/EI_Logo_Primary_1_300x74_RGB.pngLouise Cunningham2020-09-25 13:59:042023-09-06 11:43:33French €100 billion recovery package puts business first
• Australia and New Zealand have amongst the lowest cases of Covid-19 in the world
• There have been some second wave cases and local lockdowns
• Most businesses still working remotely where possible
• Australia is experiencing its first recession in three decades and the New Zealand economy has also been affected, but plans have been put in place to mitigate this.
• Government stimuli put into effect in March will begin to be phased out over the coming months.
• There are business opportunities for Irish companies in the MedTech and Lifesciences sectors.
Nowhere has been left unscathed by the global pandemic but Australia and New Zealand have been fortunate to have some of the lowest case numbers in the world. However, regional Enterprise Ireland manager, David Eccles, says while the two countries have managed to escape the worst of the infections, there is still a note of caution about the future.
“Australia is 75th on W.H.O data table of cases and New Zealand is 153rd, but we are not out of the woods yet with some second wave cases across both countries,” he says. “Both countries have closed their borders to all except for citizens, residents and immediate family members and 14-day quarantine measures are strictly enforced.
“Australians had been slowly emerging from Covid-19 lockdowns since May but a recent second wave has seen the State of Victoria in stage 4 restrictions while the other seven States and Territories have lighter restrictions and there are some border closures between States, with each being in a very different position.
“And in New Zealand, which was COVID free for over 100 days, a recent wave had seen Auckland go into lockdown and Level 3 restrictions, but this week they have returned to Level 2 restrictions with the rest of the country. So, most companies are continuing to work remotely and enforce social distancing where possible.”
But while the cases of Covid-19 were noticeably less in the region, Eccles says economies in both countries have been affected.
“Australia is now experiencing its first recession in nearly 30 years, thanks to the economic fallout from coronavirus, bushfires and drought,” he says. “And the New Zealand economy is poised to contract severely for the first time in over a decade this year – again due to the coronavirus.
“In addition, they both also boast large tourism, hospitality, and education industries, and these have been severely impacted by the near elimination of international travel. But in other areas, business activity remains robust with construction and financial services leading the way.”
The area manager says Australian and New Zealand Governments invested in numerous cash-stimulus measures for business since March, but these will be withdrawn across three phases from September 2020 to March 2021.
And the Australian government has increased the instant asset write off from $30k to $150k for businesses making capital expenditures and this has given a boost to some Irish companies.
However he says, while there have certainly been an array of challenges and opportunities for exporters to the region, Irish companies have shown remarkable resilience and adaptability in the face of these challenges. And the Antipodean market is no exception.
“We have found multiple opportunities for Enterprise Ireland clients, as all sectors increase their digital transformation,” said Eccles. “In fact, some clients have brought forward their entry into our markets due to demand, particularly across digital health, EduTech and FinTech. And in MedTech and Lifesciences, Irish companies have scaled rapidly to meet new demand for product and have accelerated their market entry here.
“The most impactful of the COVID factors to our clients is the border closures and the cessation of international travel. The borders to international travellers will definitely not reopen this year but exemptions are possible, while very difficult to achieve.
“Interestingly, a key challenge for our clients in the past has been making the decision about when to invest in a local presence and the time and cost involved in flying to the region for important meetings – but with everyone now meeting virtually, this removes that pressure.”
Since March when the lockdown began, 20 Enterprise Ireland clients have established a presence in Australia and New Zealand, including WayFlyer, Vizor, Swoop and MagGrow and over 50 new contracts were won by Irish enterprises across Australia and New Zealand.
“This is as clear a sign as you can hope for, to show that Australia and New Zealand are still open for business, still the gateway into the wider AsiaPac region,” says Eccles. “And Irish companies are showing the strength, determination, adaptability and resilience to win business 17,000 kilometres from home.
“We, Enterprise Ireland Australia / New Zealand, have started new ideas and initiatives to try and help clients during the current situation. We have started a mentoring programme ‘Scale Up, Down Under’ with six companies taking part in a 6-month programme to accelerate their entry into market.
We have also run a series of sector specific Advisory Panels across Sydney, Melbourne and New Zealand, giving a range of Irish companies the opportunity to present their product to sector experts and often senior Irish diaspora in the market to seek guidance and advice.
“So there is light on the horizon for both companies doing business here currently and those planning their market entry.”
Anyone interested in learning more about Irish innovation and its application in the Australian market can visit www.irishadvantage.com.au
https://globalambition.ie/wp-content/uploads/2020/09/david-eccles.jpg9851013Louise Cunninghamhttps://globalambition.ie/wp-content/uploads/2023/04/EI_Logo_Primary_1_300x74_RGB.pngLouise Cunningham2020-08-25 13:59:092023-09-06 09:14:24Market Watch – Australia and New Zealand
You are now successfully exporting to your first market. Now begin to build on this success and grow your exports.
The UK’s decision to leave the EU will impact many aspects of business including Intellectual Property Rights (IPR).
