مرحبا من ابو ظبي
In the introduction to this month’s newsletter, I would like to emphasize the key points made in an excellent article “How to succeed with your expansion into Europe”. It contains 13 tips from company executives.
- Ask yourself why you want to expand to Europe.
- Revalidate your assumptions.
- Don’t assume that you can sell a “one size fits all” solution.
- Spend as much times as you can in the new location.
- Hire the right local people with the right contacts.
- Understand HR aspects and different work cultures in Europe.
- Make sure that your company has a global mindset.
- Be open to adapt your company culture and language.
- Avoid the “first customer lock-in”.
- Partner with local government.
- Go where you feel supported.
- Choose a place you love.
- Be determined.
The points here above work both ways and are also applicable for Luxembourg companies wishing to expand in the Gulf. And last not least, the LTIO is there to advise and help companies from the region wishing to expand to Luxembourg and Luxembourg companies who seek to do business in the Gulf.
At the end of the holy month of Ramadan, the LTIO for the Gulf would like to wish you and your family a very happy and prosperous Eid. May this Eid give you all the happiness, success and many more good things to come your way.
Eid Mubarak in advance, عيد مبارك مقدما
Jean-Marie Frentz
Executive Director