Internationalization is a goal for many Finnish companies, and Germany often serves as an attractive target market due to its large and stable economy. Shaping Diamonds specializes in assisting Nordic companies with internationalization, particularly in entering the German market.
Germany is Europe's economic powerhouse, offering numerous opportunities for Finnish companies. The German market boasts a broad customer base, robust infrastructure, and significant investment prospects. Additionally, Germans value Finnish quality and innovation, which can be a substantial advantage for Finnish enterprises.
Shaping Diamonds' founder, Tomi Räsänen, relocated to Germany in 2007 and possesses an in-depth understanding of the market.
Before internationalizing, it's crucial to conduct thorough market research. This includes competitor analysis, defining the target audience, and assessing market size. Shaping Diamonds offers tailored market analyses for companies, which can be highly beneficial in the initial stages. The starting point is gathering concrete feedback from the prospective target audience.
The internationalization strategy should be part of the company's overall strategy. This involves setting long-term goals and making strategic decisions to achieve them. It's also important to consider how the company differentiates itself from competitors and delivers unique value to its customers.
Networking plays a central role when expanding into new markets. Shaping Diamonds and local chambers of commerce can assist Finnish companies in finding the right contacts and partners in Germany. Through these networks, companies can gain valuable insights into local markets and business culture.
Language and cultural differences can pose significant challenges in internationalization. Germans appreciate punctuality and thorough preparation, so it's important to consider these aspects in business meetings. Attending meetings well-prepared with set objectives is essential. In Germany, trade fairs are also prevalent, where people are more open to networking and learning new things. Exchanging physical business cards is a customary part of these events.
Linguistically, Germans value conducting negotiations in German. At least the initial meetings should be held in German. After this, Germans may gradually begin to use English.
Entering the German market may require meeting complex legal and administrative requirements. Some industries demand more bureaucracy management than others. Shaping Diamonds, along with its partners, offers assistance with company formation and other administrative processes, facilitating and accelerating the internationalization process.
Shaping Diamonds specializes in assisting Finnish companies with internationalization, particularly in entering the German market. We offer comprehensive services such as strategy development, market analyses, and networking opportunities. Our goal is to help companies succeed in international markets and establish long-term business relationships.
Internationalizing to Germany offers numerous opportunities for Finnish companies, but it requires careful planning and preparation. Leveraging the right partners and networks can ease the process and help companies overcome cultural and legal challenges. Shaping Diamonds is ready to support your company in this crucial phase and assist you in achieving success in the German market.
Contact us to discuss how we can advance your company's internationalization together!