Internationalisation

We help companies with internationalisation, funding applications and business development. We combine our experience and expertise to support our clients’ growth.

Internationalising your company: the first steps towards expanding into new markets

Internationalisation gives your company the opportunity to grow, reach new customers and strengthen its competitive position. The key to success is careful preparation and strategic planning. The process starts with analysing potential markets, identifying target groups and mapping funding opportunities. It is also important to make sure that your company meets the requirements of international business and follows a clear action plan for expansion.

Internationalisation: where to start?

Internationalisation always starts with thorough planning and gathering information. The first steps are decisive, as they determine the success of the whole expansion process. The process begins with a realistic review of your current situation, assessing your company’s strengths and how well they suit the target market.

It is important to make sure that the competitive advantage of your product or service, the needs of the target market and your company’s resources all support the goals of the expansion. This analysis creates a solid foundation for building a strategy.

The first stages of internationalisation:

1. Assessing market potential: We find out whether there is demand for your product or service in the new market and analyse the competitive situation.
2. Defining the target group: We help identify potential customers and understand their needs and the factors that influence their purchasing decisions.
3. Mapping funding and resources: We support you in applying for funding and plan how to allocate resources efficiently to support the expansion.

Internationalisation starts with concrete measures, such as carrying out a market analysis and mapping resources. With professional support, you can make sure your plan is based on accurate information and contains clear milestones. Together we can create a step-by-step action plan that makes internationalisation manageable and goal-oriented.

Managing funding and resources: the foundation of internationalisation

Internationalisation requires careful financial planning and efficient allocation of resources. The first step is to understand your company’s funding needs and find out what external funding options are available. These may include, for example, EU regional development funds, Business Finland funding programmes or local forms of support in the target markets. Making use of this support, however, requires well-targeted and carefully prepared applications.

At the same time, it is important to assess your company’s own resources realistically. Most support programmes require the company to have its own funding available to cover 25–50% of the project’s total costs. For example, if the project costs €100,000, the company must be prepared to cover at least €25,000–€50,000 itself. This share can come either from equity or from loan financing, but it must be clearly demonstrated in the applications.

Key stages in managing funding and resources:

1. Identifying funding options: We help your company find the most suitable sources of funding for internationalisation, whether public support programmes or private capital.
2. Supporting the application process: We make sure funding applications meet the requirements and maximise the chances of securing funding.
3. Allocating resources: We plan how your company’s resources can be used to best effect to support the internationalisation process and manage risk.

Novus Victoria is your partner in managing funding and resources, helping your company make internationalisation controlled and sustainable. With our expertise, you can make sure your financial foundation is strong and your plan is achievable.

Legal requirements and the operating environment: what should a business owner know?

Internationalisation brings many opportunities, but also new challenges related to regulation and the operating environment. Every market has its own rules, standards and practices that a company needs to know before starting operations. Taking these requirements into account at the planning stage saves time and costs, and ensures that the expansion succeeds without unnecessary delays.

What should you take into account?

1. Licences and registrations: Many markets require a company to register in local systems or obtain operating licences. This may relate, for example, to product certification, environmental permits or special sales licences.
2. Taxation and customs: Tax and customs practices in the target markets may differ significantly from those in Finland. A company needs to find out how VAT, import duties and other tax obligations affect pricing and supply chains.
3. Employment legislation: Knowledge of local employment law is essential if you plan to hire employees in the target market. Minimum wages, working hours legislation and social security contributions vary from country to country, and breaching them can lead to significant penalties.
4. Requirements for products and services: Product safety standards, packaging labelling and data protection rules can vary considerably between markets. For example, there can be major differences between Asia and the EU in the requirements that apply to the distribution and use of products.
5. Business culture and practices: In addition to legal requirements, cultural features of the target country’s business environment, such as negotiation styles, payment terms and contract processes, can affect how smoothly trade runs.

Neglecting legal requirements can lead to delays, additional costs or even legal problems. Understanding the cultural characteristics of the operating environment can also be decisive for long-term success. Careful preparation for these factors makes the expansion run more smoothly, minimises risks and strengthens your company’s position in the new market.

Identifying the target group and customer profiles: the cornerstone of internationalisation

Expanding into a new market requires a deep understanding of the target audience and their needs. Without a precisely defined target group, a company’s marketing and sales efforts can become scattered and fail to deliver the expected results. The success of internationalisation also depends on how effectively the company’s financial and time resources are directed to the right measures from the outset.

Precisely defining the target group and customer profiles is an important foundation that helps steer resources in the right direction. It also makes the internationalisation strategy more goal-oriented and cost-effective. Without a clear analysis, a company may find it difficult to show funders why its project is viable and well prepared.

What should you take into account?

1. Who are you offering products or services to? A general understanding of market demand is not enough. It is important to identify potential customers precisely: their demographics, such as age, gender and geographical location, and their behaviour, such as buying habits and decision-making processes.
2. How is customer value defined? Differences between markets can affect what customers value. It is important to find out what makes your product or service valuable to that particular target group: price, quality, brand or, for example, availability.
3. How do you reach your customers? Different target groups may have their own preferred communication and marketing channels. The use of social media platforms, online platforms and traditional channels varies from market to market.
4. Competitors’ customer profiles: Analysing competitors’ customers can provide useful information about the market. What do they value? What services do they use? These observations can reveal opportunities to stand out and attract customers of your own.

Without a precisely defined target group, internationalisation can turn into a costly and time-consuming experiment. When you know your customers, you can adapt your products, services and marketing to their expectations. This improves sales results, saves resources and strengthens your company’s position in the new market.

Carefully defining the target group and customer profiles is a decisive stage that gives your company a clear direction and builds a sustainable foundation for its internationalisation strategy. This stage supports success and lays the groundwork for long-term growth.

The competitive situation and differentiation: how to succeed in a new market?

Expanding into a new market means finding your own place among competitors, as well as pursuing the market itself. The competitive situation and customer expectations can differ significantly from the home market, which requires careful preparation from the company. Success requires that you know the competitors operating in the market, understand their strengths and find ways to differentiate your offering.

Thorough preparation helps direct resources to the right measures, minimises the risks of internationalisation and gives the company the opportunity to offer something unique and attractive from the customer’s point of view.

What should you take into account?

1. Mapping competitors: Analysing competitors’ products and services provides important information about the structure of the market. Find out who the largest players are, how they position their products and what makes them successful.
2. The importance of differentiation: Succeeding in a new market requires your company to offer customers added value that stands out from what competitors offer. This may relate to the features of your product or service, the benefit the customer experiences or your company’s ability to meet local needs better than others.
3. The significance of pricing: Planning a pricing strategy is important, but competing does not always mean having the lowest prices. Understanding the customer base in the target market helps determine what matters to them: price, quality or added value, such as fast service or responsibility.
4. Customer expectations and local needs: Customer expectations can vary greatly between markets. In some regions the emphasis is on product responsibility and environmental friendliness, while in other markets price or delivery speed may be the more decisive factor.
5. Long-term competitive advantage: Successful internationalisation means building and maintaining a competitive advantage over the long term, as well as winning new customers. This may mean, for example, strengthening the brand, continuously developing services or anticipating the changing needs of the market.

Entering a new market without a thorough analysis of the competitive situation can lead to inefficient use of resources and unrealistic expectations. By understanding how competitors operate and what customers expect, your company can build a strategy that minimises risks and maximises the chances of success.

Examining competitors and customer needs is an essential part of preparing for internationalisation. This stage helps your company make well-considered decisions and creates a solid foundation for long-term growth.

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