Sunday, 20 April 2014

Businesses look to export to less traditional markets, poll shows

ČTK |
12 December 2012

Prague, Dec 11 (CTK) - Interest in exporting to less traditional countries is growing among Czech businesses but at the same time, they consider lack of contacts in such countries as the biggest obstacle, according to a poll the IBRS agency made among almost 700 companies.

Companies are trying to extend their exports outside of the traditional markets like Germany, Slovakia and Poland.

"Entrepreneurs have higher interest in new, less traditional countries where they plan to export. Most of all in Ukraine (14.2 percent), Romania (10.5 percent), Sweden (10.5 percent), Brazil (10.1 percent) and Bulgaria (8 percent)," said Tomas Horejsek of IBRS.

However, two thirds of the surveyed companies see as a barrier the lack of local contacts familiarised with what is special on the target markets.

Almost half of the companies concede that they do not sufficiently know the potential of such markets and are unable to calculate exactly whether the entry in such markets would pay off.

Many of the companies are interested in cooperation with Czechs living abroad. Some 200,000 Czechs who could help Czech companies penetrate untraditional markets live abroad, according to IBRS data.

The poll shows that 68 percent of companies would appreciate support from Czechs living abroad in learning about the market's business potential. Half of the companies would welcome help in opening an office abroad.

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