This article is the responsibility of Yunit Consulting.
The path to internationalization is neither easy nor simple, since gaining the trust of new markets requires perseverance. The process requires presenting what the company is capable of doing as many times as necessary and how it can add value. It is crucial to invest in a well-designed strategy, in highly effective planning that foresees possible advances and setbacks and, above all, to have a robust investment capacity.
The starting point of this long journey is to evaluate the strength of the SME, the business environment and the sector in which it operates, as well as its motivations. Internationalization can be reactive or proactive: the response to a need inherent to the saturation of the domestic market, sales declines or situations of overproduction; but you can also aspire not to depend on a restricted number of clients or simply want to gain competitiveness and affirmation.
Yunit highlights the issue of product internationalization as one of the main issues to take into account, since not all the offer is susceptible to being placed abroad, given its nature or logistical costs. On the other hand, differentiation plays the same importance. It is essential that the company introduces something new in the face of local competition, taking advantage of the current easy access to information and analyzing both what is already available and the trends and characteristics of these target markets.
Next comes production capacity. Internationalizing means that it is necessary to produce not only to supply new markets, but also to maintain current customers. This is closely related to the question of human resources, evaluating not only whether there are enough employees to support and follow the new path, but also whether their qualifications align with approaches outside their comfort zone, including different cultural realities. Commercial prospecting in new markets is an arduous and demanding task: the identification of potential clients, distributors or partners can be carried out in different ways (participation in fairs, trade missions or individual trips), requires time and has high costs. Idealizing that on your first business trip you return with a contract may seem clearly utopian.
Once we have reached the financing phase, it is important to point out that in an internationalization project this must be assured from the beginning. To complement one’s own capital, it is possible, for example, to find financing under the Portugal 2030 and PRR programs, or to turn to banks.
To help companies successfully achieve their ambition of conquering foreign markets, Yunit Consulting offers a Roadmap for Access to Internationalization, in collaboration with the CCIP – Chamber of Commerce and Industry of Portugal, composed of these three fundamental steps: design preparation, prospecting and financing. SMEs thus benefit from 360º help throughout the entire internationalization process, minimizing unforeseen events and redesigning more effective strategies when necessary.
Portuguese SMEs have been gaining their place in the world, being widely recognized for their high performance, qualified professionals, ability to adapt and permanence. Every year, Portuguese entrepreneurs demonstrate that they are prepared to compete in the most demanding markets and that these are precisely the greatest drivers of their growth. With focus, specialization and perseverance.
Source: Observadora
