How to internationalise your company?
Internationalising a company is a process to promote its products or services in other markets and to increase its client portfolio. According to the business, expanding towards one destination or another will be advisable, and in this post you have a ranking of the countries that offer more opportunities. Check the details that can help you to focus your expansion!
Before launching your product or service in another market, you must take into account various key elements that will influence your success within that country: the market penetration of mobile devices, internet usage and the target that you are aimed at, among others. In this study of the ICIE, carried out by Caixabank in 2017, 67 countries were analysed in order to know where internationalising is easier. In the next picture you can see the countries that are part of the top 20 and, the first five positions are occupied by the United Kingdom, the United States, France, the Netherlands and Germany.
Factors in the internationalisation of a company
The factors that have been taken into account to analyse these countries and to determine their position in the ranking are:
- Accessibility: indicators are collected such as the geographical distance from Spain, the ease of communication, the existence of trade agreements or the quality of the infrastructures.
- Ease of operation: indicators are collected on the conditions that the country has to start an internationalising process, its work conditions and the presence of Spanish investments.
- Commercial attraction: with indicators on the GDP and whether there is a similarity in tastes with Spain, it is measured by the volume of Spanish exports.
- Financial environment: with indicators on credit and the level of financial development.
- Stability: with indicators on institutional and political stability, as well as on macroeconomic stability.
In conclusion, developed countries, and more specifically European countries, offer better conditions for businesses than emerging markets. This is the case because developed markets have a high capacity of demand, some optimum solvency perspectives and a stable frame of legal safety and regulations.
Besides analysing this information, you must consider how your product or service will adapt to the new market. And, above all, take into account multilingualism. Count on ATLS!
