Opportunities for Irish SMEs in Germany
Entering and exporting to new markets is key to the success of most Irish businesses and the German market – with its nearly 82 million consumers and its large number of different businesses to sell to and/or partner with – offers great opportunities to Irish SMEs for export.
Compared to exporting countries like UK or USA, which are often Irish SMEs’ first choice for export, no currency risk issues exist between Ireland and Germany. Also, compared to other large and attractive export markets, such as for example China, Germany is a stable economy, close enough to easily do business with, and culturally a lot more similiar to Ireland than, for example, the Asian markets.
And – for those companies operating in the B2C arena – it is important to know that Irish products and services are well liked in the German market, as some interesting research that Amarach Consulting did in 2011 shows. The findings of this research, which referred to the German market as a “€1.5 Trillion Opportunity“, are worth a read and include interesting facts, such as:
- A product coming from Ireland is regarded as positive by nearly one third of Germans – this makes products from Ireland the second most popular foreign products, straight after French products;
- Nearly three quarters of Germans welcome the introduction of more Irish products into the German market;
- When selling to Germany it is important to pay close attention to Germans’ requirement for high quality, backed up by tangible evidence from test reports, experts, and/or certifications.