Doing business in Europe? 5 tips to do that like a pro!

May 20, 2024

Doing business in Europe? 5 tips to do that like a pro!

May 20, 2024

Are you ready to explore new markets? Expanding your business to Europe offers exciting opportunities and unique challenges. Europe’s landscape is characterised by varying regulatory environments, logistic challenges and consumer behaviours. To navigate these complexities successfully, you need to understand the local markets. Let’s explore the essential tips that will enhance your understanding of the market so your company is ready for business success in Europe.

Be aware of European business laws

Although European legislation is harmonised, every country in Europe implements its own regulations based on EU Directives. That means there can be specific differences between countries. To make sure you do everything right, it’s a good idea to work with legal experts in your destination market. They can help you avoid running into legal problems.

As a start, you can look into the buyer requirements studies that our Market Intelligence team has written for CBI – Centre for the Promotion of Imports from developing countries.

Embrace sustainability standards

Incorporating sustainability into your business operations is not only beneficial for the planet but increasingly a requirement for doing business in Europe. The European Union has implemented firm sustainability regulations as part of the EU Green Deal. To comply with these regulations, European businesses must focus on reducing carbon emissions, improving energy efficiency, utilising sustainable materials and move towards circularity models. European companies will transpose these requirements to their suppliers to mitigate sustainability risks in their supply chain. It’s therefore essential to conduct a thorough sustainability assessment of your supply chain and adapt your practices to meet the prevailing standards.

reuse reduce recycle

Embracing sustainability can also enhance your brand’s reputation and appeal to the growing number of European consumers who prioritise eco-friendly and responsibly produced products and services. Don’t forget it is not just a buyer’s requirement, it is a market opportunity! For more information, check out CBI’s market information section for tips on going green and tips on responsible business practices for a wide range of value chains.

Go digital

If you want to sell your products in Europe, being active online is crucial. Start by making a website that is mobile friendly and that is high listed in search engines like Google on keywords your targeted buyers use when searching for your kind of products. Be active on social media like LinkedIn where you can engage with European buyers and tell them about your products and company. Also, consider selling online through e-commerce platforms that are popular in Europe.

If you already have a website and you’d like to give it a boost, check out our blog on accessibility and SEO for your website. 

ecommerce

Adapt products and services to local needs

One size does not fit all. Tailoring your products and services to meet local tastes and preferences will significantly boost your market acceptance. This might mean adapting your product designs, adjusting your service offerings, or even changing your marketing strategies to ensure they resonate with the local audience.

So how do you get to understand local trends and consumer preferences? Regularly research and analyse market reports and consumer surveys. Attend industry conferences, webinars, and trade shows that focus on your target market. Follow local business news and connect with local business groups on social media to gain insights directly from the source.

Foster long-term partnerships

When you start doing business in a new place, it’s important to invest time and efforts in establishing partnerships with local companies, support agencies and other relevant stakeholders. These partners can support you and give you important advice to help you succeed in the local market. Always work with your partners in a way that benefits both sides and remember to treat everyone with respect.

In short, to succeed in Europe, you need to be aware of local business laws, embrace sustainability standards, go digital, and adapt your products and services to meet local requirements. Building strong, respectful partnerships with local stakeholders will greatly enhance your chances for success.

Follow these strategies to navigate the European markets effectively and position your business for sustainable growth and success.

 

Experience in and with emerging markets

Since 1995, Globally Cool has trained and coached thousands of professionals, in over 45 emerging markets. Want to know more about what Globally Cool can do for you? Check out our services and join us!