Entering the Market in Austria
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Why Expand to Austria?
Why is it such a good idea for UK businesses to consider exporting to or expanding to Austria? Nestled in the heart of Europe and surrounded by eight different countries making up its boarder, it is often thought of by international investors as a central distribution point for the rest of Europe. Austria's population is growing towards eight million people and with this there is an increasing workforce. It has a fantastic infrastructure and compared to other EU member states, it has invested financially more in its telecommunications infrastructure. With industrial productivity of output per man-hour increasing by 50% in recent years, it is continuing its high level and is up there with the best. Austria is ranked 9th among 57 industrial countries for its economic stability and enjoys a vibrant relationship between business managers and its labour work force. There is the right business environment to expand, license or incorporate a business in Austria.
What's the Attraction for UK Business?
With a positive attitude and relationship with the UK, many Austrians speak English, making it a great country for UK businesses. Its close enough to the UK to make it easy to travel to on business trips or even move to when your business takes off. Austria has been ranked in the World Competitiveness Yearbook for its quality of life, which of course cant be a bad thing if you are setting up a business in Austria.
The main industrial sectors that have been identified as potential sectors for UK companies expanding a business in Austria are:
- Clothing and footwear its not just the French and the Italians who want to look good anymore. The rest of Europe is catching up on the style front and now they cant wait to look fantastic and feel good about new trends. As the demand for Germany and Italian goods decline, UK businesses can step in.
- Telecommunications who would have known two decades ago wed all be carrying a mobile phone. Thank goodness we dont have to carry the battery around with us like an extra brief case! Telecommunication is a huge business and shows no signs of slowing down. Mobile phone penetration is 83% and all five operators offer a 3G service.
- Food and drink with world wide travel becoming available for more and more people, our taste buds have been exploding while experiencing foreign foods. There is potential for specialist foods, ethnic flavours and convenience foods. There is also shown growth in the frozen food market and private label products.
- Gardening equipment and pet care products its becoming more popular with Austrians to turn their gardens into their own havens while enjoying their leisure time with their pets, and who can blame them. Sounds like a very blissful way to spend leisure time and money.
With the main cities of Austria spread throughout the country and connected by an excellent infrastructure there are several locations that can be considered when setting up a business in Austria, such as:
Challenges Foreign Companies Face
Starting up a business in Austria is a scary challenge for anyone. Austria has many benefits to it, but like every country also has its pitfalls. Before expanding a business in Austria, it is important to fully research your area of expertise and decide if it is potential market area that is growing.
Organisations that can assist with Entering the Market
Hardwick Co, trading as “Exxapatent ®” has been in the international IP arena since 1978.
B2B International is a global market research agency that specialises in b2b markets. With experience in every industry sector and country imaginable, we are well placed to help you expand your business overseas.
Sterling is a high quality provider of global relocation services to some of the world’s leading companies.
Need to register a company or setting up a company?
Do you need advice from an expert in your field, on the ground? Need help finding the best route to market for your product or service?
Winning Business In the German-speaking markets. With you every step of the way.