Europe is a huge market. There is no company in the world that wouldn’t like to enter the European market. I said European and not EU market because there is plenty of Europe outside the EU. It is the truth that EU makes more of GDP than the USA for example. And that difference is significant, more than a trillion dollars. Do we need to mention another reason to move your business to Europe from i.e. the USA? Commercial opportunities in Europe are great for being such a large and also such a diversified market.
In case you forgot, Europe is not a country. Many countries make Europe. 44 of them. Imagine what advantage it is to offer your product to 44 different nations, cultures and systems of value, in such a small area. 28 countries members of the EU, developed economic, travelling and trading union, with a free passage of people and goods within the borders of them. That is a brilliant thing for Europeans and for the companies doing business there. In case you want to move your business to Europe, we made some tips to make it easier for you.
Basics about moving your business to Europe
- Europe is a continent of 44 countries– Make a use of European market by moving your commercial activity there. At least open a subsidiary there
- Get help from European experts– Who knows better how to do every job in Europe than Europeans? So should you get their advice regarding your business move to Europe?
- Partnership deal– Probably the best way to move your company to Europe, and enter European market is becoming partner with local business
The most sophisticated market in the world calls for your Europe business move!
-Cultural and national differences among European countries are perfect for diversifying your offer
44 countries, distinguished by language, culture, tradition, and whatever else you want. For a company looking for a new challenge, Europe is like heaven! Being that one of the economy’s most important postulates is diversify, or don’t keep all the eggs in the same basket, Europe is probably the best area for the basics of the economy to be implemented.
You don’t need to adjust your product or service to every of 44 countries. It is enough to adjust it just to those European markets the most important to you. And regardless to that if some of those markets you entered fail, you will still have the others to rely on. Because it could never happen that all the markets go down at the same time, and at the same level. Therefore, your business would be much more secure in Europe than in some other country, or even continent.
What might be a challenge is to actually achieve to enter that different markets of Europe. European nations are known for having high national awareness. That’s why the differences between markets in Europe could be that big to become unmatchable for the products or services of your company. Nevertheless, it is a great opportunity, so I would advise you to still at least try to move your business to Europe. Do the calculations, check if it fits for your kind of business. Europe offers great business opportunities for you. You may pick where you will place your products, the opportunities are so big. In a case of success, it would be something like dreams come true.
European domestic experts are the kind of ‘intruders’ you want to have on your side when considering to move your business to Europe
-Domestics know the culture, language, regulations, jurisdictions, how their compatriots feel about things etc. Do you really want to enter European market without that knowledge?
What we mentioned to be the top recommendation to move your business to Europe- the diversity of the nations, now has to be mentioned as a potential threat. Why? Because of differences in language, jurisdiction, special requests etc. We’re not saying this to discourage you. It is important to be aware of every single possible obstacle when it comes to relocating your commercial activity to Europe.
Although the English language is adopted by almost every nation in Europe, it is still recommended, in case you want to relocate your company to Europe, to employ one or more people from the country where you are moving to. Because it is the completely different situation when you have someone domestic working for you. That way you have healthy communication with the market, you get more detailed explanations of domestic regulations and jurisdictions, you are able to get to know the market closer etc.
When entering an unknown, or not known enough market, it is recommended to make partnership, rather than making a greenfield investment
-A home company has everything you need entering the European market. It has know-how, infrastructure and contact with the clients
Many countries of use incentives to attract companies to invest in Europe. These incentives are not inappreciable at all. However, when compared to the risk of greenfield investment, we recommend relocating your business to European market through a partnership deal. That way, you have your goods and services on the market as soon as you bring them there. Also, the reputation your partner has would make customers feel good about you. They would be eager to taste what your company has to offer.
And that is the first important thing when moving a company elsewhere, Europe in our situation. When customers start buying what you offer, and as the demand rises, your position will be better and better. Until you sit down and calculate if you still have a reason why to go on the market with the partner. Or would it be better to go by yourself? Until then, keep our advice and look for a good and reliable partner for your relocation of the company to Europe.