Explore Export – Germany
Ahead of UK Trade & Investment’s ExploreExport 2014 event at Newmarket Racecourses on November 11, Business Weekly spoke to James Scott to get his thoughts on how East of England firms can make the most of exploring the possibilities of doing business in Germany.
1) What would be your advice to UK businesses looking to do business in your market for the first time?
The key questions companies should ask themselves are:
• Do you have the capacity/resources and financial power to cope with export demands of a market like Germany? Know your strengths and weaknesses and then react accordingly, i.e. do you have a German speaker, web designer etc.
• Do a market potential analysis.
• Identify the kind of marketing you want to do.
• Define the key players in the market and compare your product.
• Visit trade fairs/invite key competition/ attend congresses.
• Invest in German brochures and website.
• Do not rush things – it needs time to do business in Germany.
2) Why is now a good time for UK firms to be looking to do business in your market?
• Germany is Europe’s largest domestic market with a population of 80.7 million and 16 Federal States.
• Reliable political and legal conditions are good for business.
• Highly developed infrastructure.
• Easy access from the UK with low cost flights from several UK regions.
• Situated in the heart of Europe, Germany provides access to markets in Western and Eastern Europe.
• Global leader in international trade fairs; around 160 annually, 180,823 exhibitors – more than half are non-German companies, over 10 million visitors.
3) What are the key opportunities for UK companies looking to approach your markets?
• As Germany is still a growing economy there are opportunities in most sectors. If the companies inform me in which sector they would like to export I will pass them on to the relevant trade officer.
4) For companies coming to explore your market what sort of support can you offer to help them develop their exports in your market?
• Provide companies with a comprehensive market overview including; pointers on standards and regulations, facts and figures, statistical data, comments on prospects and routes to market, competitors, events and trade magazines.
• Identify potential German business partners.
• Help you to organise receptions, seminars and product launches.
• Accompany companies to trade fairs visits and /or meetings with prospective clients or partners.
Email: contact.uktigermany [at] fco.gov.uk (contact.uktigermany [at] fco.gov.uk)
• Commercial Officers from British Embassies representing more than 60 global markets are visiting Newmarket on November 11 to share detailed export advice. They are highly experienced market specialists who provide valuable insights, direct routes to market and new business opportunities aimed specifically at East of England companies. For further information about ExploreExport visit www.exploreexport.ukti.gov.uk/Newmarket.aspx