In an increasingly interconnected world, internationalisation is a key pillar for the growth and competitiveness of small and medium-sized enterprises. Exploring new markets beyond national borders not only expands business opportunities, but also strengthens the position of SMEs in a global economic environment. 

Among many others, the process of reaching out to new countries offers three key advantages:

1. Access to new markets. Internationalisation allows SMEs to diversify their client portfolio by entering foreign markets. This not only implies an increase in sales opportunities, but also a reduction in dependence on a single market, which mitigates the associated risks.
2. Sustainable growth. By expanding internationally, SMEs can experience long-term sustainable growth. Foreign markets offer different economic cycles and seasonality, which can counteract fluctuations in demand and economic conditions in the domestic market.
3. Leveraging resources and technology. Internationalisation offers the possibility to take advantage of resources and technologies that may not be available or more expensive in the local market. This can improve operational efficiency and the quality of products or services.

Before taking the plunge into new markets, it is essential to conduct thorough research. Understanding market trends, consumer behaviour and competition will help to adapt the entry strategy. In addition, internationalisation entails additional costs, such as product adaptation, international marketing and logistics. Ensuring sufficient financial and human resources is crucial to meet these challenges.

Tips for starting the internationalisation process

1. Develop a clear strategy. Establishing clear objectives and a well-defined strategy is essential. This includes selecting the target market, identifying potential partners and determining the marketing and sales strategy.
2. Cultivate local relationships. Building strong relationships with local partners, distributors and customers is critical. Understanding the local business culture and local business practices contributes to successful integration into the new market.
3. Comply with regulations and standards. Each country has its own regulations and standards. Ensuring compliance with these requirements from the outset avoids legal problems and enhances the company's reputation in the international marketplace.

Galicia boosts internationalisation

The Galician business fabric has different lines of support from the Xunta de Galicia to internationalise.

These include the Galicia Exporta programme, comprising three calls for applications for grants (Galicia Exporta Empresas, Galicia Exporta Organismos Intermedios and Galicia Exporta Digital), which together amount to more than €9 million to support the Galician business sector, especially SMEs and commercial establishments, in their efforts to expand their international presence through new marketing channels. 

On the other hand, the acceleration programme Galicia Avanza, developed by the regional administration in collaboration with Tecnópole, is also underway. 

Its aim is to boost access to foreign markets for innovative SMEs in any field or sector that need a lever to validate their positioning and strengthen their competitiveness abroad. Over the next two years, the programme will support 60 small and medium-sized enterprises in their export plans through two new editions. 

Both self-employed and small and medium-sized enterprises from any sector can apply, as long as they have innovative products or services. 

They will have a mentor for 8 months to design their internationalisation strategy and implement specific marketing and commercialisation actions in foreign markets.

Finally, Galician companies also have support for hiring professionals specialised in foreign trade to help them continue to improve their international sales through the call for Internationalisation Managers, open until 9 July 2024 or until the credit is exhausted.