Market Entry

RANDLA

In static markets, growth can be maintained and even accelerated through diversification, which in turn can come from one of two directions: sell new products to existing customers, or sell existing products to new customers. (The third option: selling new products to new customers - or total diversification - is generally not recommended).

(Geographical) Market entry is often, by definition, a step into the unknown. If you are a UK SME, how do you know that your products are suitable for the overseas markets you are considering? Which ones will you prioritise - both products and markets? Much help (often free) is available from UKTI and their associated delivery partners, but this is generally limited to local support and accurate if sometimes formulaic advice on routes to market. What they won’t help you with is focused development of an export strategy, without which your business is at risk.

For overseas companies wishing to enter the British market(s), local knowledge of distribution channels, demand generators, decision influencers is equally vital. Local requirements can often decide whether a product fails or wins - EN certification is not a guarantee of success.

RANDLA have many years experience in both export and setting up UK businesses for overseas firms. For an informal discussion about what’s best for your company, call us on +44 7929 121885 or click here to send us an inquiry.

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