For businesses looking to expand overseas, Europe offers a prime environment in which to thrive. Not only is there the opportunity to increase your market, but many industries can benefit from generous subsidies and tax-breaks by choosing to locate a part of their operation in a European country. Importantly not all European countries provide the same level of opportunity; the Baltic countries, Estonia, Latvia and Lithuania, offer a significantly different arena to that provided by “advanced” European countries such as Germany or the UK. If you want to maximize your returns from the international marketplace, Baltics based market research is absolutely vital. Listed below are just three of the areas in which accurate, up to date intelligence can enable you to make the right decisions every time.
Labor Market Data
Although Europe is often seen as one entity from a foreign perspective, there are enormous differences in the employment markets between countries. Wages vary significantly, with the same job commanding a much higher salary in France or Luxembourg than it does in Latvia. The legislation governing minimum wages, working conditions and terms of employment also change depending on which EU state is being considered. Market research about the Baltics allows you to be clear on the economic benefits of locating to countries which have relatively low wage rates and employers enjoy a greater degree of freedom in shaping the working environment.
Business to Business Support
Particularly if you are considering moving all or part of your operation to Europe, the Baltic States offer an excellent location. Land and premises are relatively cheap and there is considerable demand for jobs, as unemployment is higher compared with Austria, Denmark, the UK and some other EU member countries. Obviously no business can work in isolation, so making the right local links and forming productive partnerships is crucial. Expert market research about the Baltics by Export Market Research Ltd. can enable you to get in touch with indigenous companies. These may well go on to form a vital part of your overseas venture, providing everything from raw materials through to a ready market for your products or services.
Cultural Awareness and Language Support
Every country has its own unique set of values, customs, idiosyncrasies and language. To outside eyes, these can often seem impossible to master, as differences can be subtle. While some cultural barriers are easily overcome (ensuring suitable interpreters are available, for example, or that culturally appropriate hospitality is provided during meetings or visits) there are some facets of cultural difference which require in-depth intelligence to understand and work with. Baltics based market research offers a superb source of information on the Baltic cultures, enabling your team to work easily and amicably with their foreign co-workers and other important groups.
Export Market Research Ltd. can provide everything you need to ensure your trade missions to the Baltic States is a success. From locating potential business partners to providing data on local job markets and skill sets, Export Market Research Ltd. can put the information you need for international success at your fingertips. As the saying goes, “You only have one chance to make a first impression”, so ensure you have all the facts and background you need to make those critical initial international links with one of the Baltic State countries a success.
