Are you considering taking your business internationally? You may have previously worked in Germany, have identified collaboration opportunities with German companies or spotted a gap in the market? These could be just some of the reasons that have made you consider Germany as your new business destination. So let me tell you a little bit more about Germany’s business world and whether Germany is a suitable market for your products or services.
Germany is a great export destination for UK businesses, particularly if you are in STEM (science, technology, engineering, and manufacturing). For example, Germany has a particularly strong demand for products and services that address artificial intelligence and big data*, also one of the UK’s Grand Challenges. If you are a scientific business then you may also want to consider exporting Germany due to its strategic location*. Whatever size and type of businesses, it is important to explore the market opportunities first before getting into the detail of logistics and marketing.
Here are a few starting points to explore your market opportunities:
Google’s Market Finder
To get started I would recommend exploring Google’s Market Finder. The Market Finder recommends markets for your business based on your website keywords, monthly searches on Google, ease of doing business index and household net disposable income. Understanding these factors is particularly useful if you are considering creating an eCommerce website that sells to customers based in Germany.
Department of International Trade
Department of Internation Trade has a great initiative called Exporting Is Great. I have found talking to their experienced Trade Advisors invaluable because they give an unbiased view on the feasibility of starting your export journey and the types of new customers that you may be able to reach. I think that thinking about feasibility is crucial because will you come across hurdles that you have not experienced in business before. The DIT can help businesses in a number of ways from creating an export plan to export finance and funding to identifying your route to market. I would recommend reading their Exporting to Germany guide to help you get more of a detailed insight into the German market.
Exporting can be a daunting process, but it helps your business grow in a number of ways. For example, I have found that the exporting journey helps to refine your business purpose and procedures, as well as open up new conversations with UK businesses who are on a similar journey as you. If you are interested in gaining insights from businesses who are already exporting or have clients who are exporting, then please get in touch as I am happy to try and connect you to them.
Do you already have a German website?
If you have already started preparing to export to Germany, then you may want to consider a Free German Website Audit. This free audit can help you understand…
- Why your German website has a high bounce rate.
- How your brand is communicated to a German-speaking audience.
- Why you aren’t reaching the right audience.