The internationalisation process of a company goes beyond the simple export of products. It involves making decisions and restructuring processes to be able to expand its commercial work. In this post we tell you how you can achieve this with the support of ICEX.
Most of companies have the same goal: to grow. In fact, the internationalisation of a business model is not exclusive to large companies. More and more SMEs are deciding to expand their market and improve their competitiveness to increase their income. Therefore, if your business is going well and is profitable, you may be starting to consider the possibility of taking the step towards international expansion.
However, there are several factors to take into account before embarking on the adventure of expanding our company internationally. In this post we tell you about the essential aspects to consider when defining a market internationalisation strategy and how ICEX can help us in the process. Take note!
- Internal Analysis
The first thing to do is to carry out an analysis of our company to identify whether it is prepared to meet the requirements of a new international market. It is also important to determine aspects such as its production capacity, to know what expenses can be assumed or what the capacities of the business are.
- Identify the market
On the other hand, just as internal analysis is important, so is external analysis. We must know what factors may affect the development of our business in the markets we want to reach. We must also discover whether there is a need for a product like ours in those markets and identify the areas where adaptations will be necessary.
- Planning and prevention
Internationalisation is a long-term project and therefore we need to develop a strategy to follow. Having a strategy or action plan will allow us to continue expanding and prepare for future changes or unforeseen events. For this, we need to be aware of the risks we may face in the countries we want to expand to. We must also consider aspects such as laws, official currency, consumer customs or policies of the countries we want to reach.
We know that taking these factors into account and taking the step towards internationalisation can be complicated. However, in our country, SMEs can count on the support and advice of public entities specialised in this area, such as ICEX Spain Export and Investment (ICEX España Exportación e Inversiones). This public business entity aims to promote the internationalisation of the Spanish economy and Spanish companies by improving their competitiveness and attracting foreign investment to Spain.
To achieve this, ICEX works closely with the main business organisations, Chambers of Commerce and sectoral groups that encompass the country's business fabric. All this, in order to identify the internationalisation needs of each SME in Spain and to develop strategies that enable their consolidation in international markets.
ICEX has more than 1,000 professionals and coverage in more than 150 countries to help and support Spanish SMEs.
Among the services offered by ICEX, we can find flexible solutions adapted to the needs of each SME, of which the following stand out, among others:
- Support programmes and services: with the aim of promoting and supporting Spanish companies, ICEX has developed a series of personalised services and programmes such as:
- ICEX NEXT Internationalisation Programme: its purpose is to help companies develop their internationalisation strategy, analyse the best export destinations for their products and support them in a business plan focused on the selected markets. All this, through specialised advice and with the financial support of a grant of up to 24.000 euros.
- Customised services: offering flexible and tailor-made solutions for companies through the support of a Network of Spanish Economic and Commercial Offices, with coverage in more than 150 destinations.
- eMarketServices: aims to make it easier for Spanish SMEs to sell internationally through online channels and the use of e-marketplaces. This is done through an initial diagnosis, training, tailor-made information, advice and an extensive directory of e-marketplaces.
- Financing for internationalisation: ICEX advises and helps companies to structure the financing they need to carry out their operations abroad through financial advice and seminars and workshops.
- Identification of business opportunities: free access to selective information on business opportunities abroad.
- Training and capacity building: seminars, lectures and trainings covering different aspects of export and investment financing abroad.
- Statistics and other information: Foreign Trade Statistics Service with all world trade data and export/import comparisons among other relevant resources and information.
Having the support of an entity such as ICEX can bring multiple advantages for our business. That is why we invite you to visit their website and explore all the advantages and options they have for your SME. Don't wait any longer and... give your SME an international boost!