The Belgium Market Notebook
Market notebooks are one of the objectives of developing information in relation to the target markets of the Master Export project.
They are framed in the need to better know the destinations with potential for exporting products from the two rows / clusters on which this project operates – Metalomecânica and Habitat.
As described in the project, it has several objectives in order to assist business development with these markets targeted as most relevant to these clusters installed in the regions where the entire Master Export project is developed and focused:
“This set of market studies, more than a mere collection of economic data and statistical indicators, intends to carry out a meticulous and detailed study of local conditions in terms of contextual characteristics and specific strategies to deal with them (capitalizing opportunities and transforming potential threats into latent opportunities), the particular characteristics of demand (such as specific support for adapting offers, creating differentiating elements and valuing arguments in line with the benefit profiles targeted by local customers, adjusting and selecting product binomials / market, targeting in the segments with greater attractiveness for the characteristics and advantages held, positioning in axes that promote notoriety, etc.), the particularities of competitive systems (supporting the selection of competitive strategies that anchor differentiating arguments, identifies in groups of strategic specialization, pointing out ways to affirm their presence in the face of the strengths and vulnerabilities of the main competitors, identifying potential vehicles for coopetition, etc.); as well as local systems (in terms of logistics dimensions, distribution channels, means of communication, prescribers, agents and players to support penetration and affirmation of presence, etc.). Understanding the markets (their characteristics, agents, cultures and traditions), adopting international management models, mastering procedural and legal procedures, applying international marketing principles, are examples of the many factors that prove to be fundamental for success in business beyond- borders and that are intended to be answered in an assertive way through this project. ”
In the set of the five target countries identified, and on which the Master Export market books will look, we begin with the introduction to the Belgian market.
A summary, gathering a set of excerpts of what you can find in the notebook that can be downloaded on the project platform in the “information / documents” area (“Information / Documents”).
Market research and market access guide for Belgium
Small in size, but economically developed and strategically located in the center of Europe, Belgium is one of Portugal’s main customers and a major investor in our country.
In general, the Belgian economy has performed well in recent years. The growth of the economy was fueled by the growth in domestic demand – driven by favorable market developments and strong consumer confidence – as the main growth driver, along with public financing financed with EU funds.
According to the Belgian export profile, the metalwork and habitat sector are examples that appear as potential export opportunities for the Belgian market, and as such, they are included in the opportunity matrices developed in this study.
Geographically located in the center of Europe, Belgium is a country that is increasingly expanding its sectors in order to internationalize its goods and services. In addition, it belongs to the main investors, being the 7th largest supplier and prominent investor in Portugal.
The Portuguese economy faces a long road to gain position, so SMEs should intensify trade (exports), to reach a prominent place in the main supply markets in Belgium.
Portuguese SMEs should also take advantage of the fact that Belgium continually imports products belonging to the metalworking and habitat sectors and, incessantly innovating them, also applying industry 4.0, the circular economy and open innovation in a way, in the near future to present solutions that are friendly to the environment. environment. To this end, organizations must invest in the training of their employees, as it is from these that the ideas, innovations and efficiency of the markets start from.
In short, Portuguese entities and organizations must continue to strengthen partnerships and business opportunities and expansion in the Belgian market primarily in the sectors of continuity that are characterized as indispensable sectors and with a constant presence in Portugal. However, it is warned of a bet and fortified attention in certain sectors of goods, namely, plastics, since they are part of the constitution and packaging of various products such as packaging, automotive devices and construction elements.
With regard to the business environment, Belgium performs similarly to Portugal in all indicators. Even so, according to the World Bank’s doing business indexes, Belgium is behind in position 45 while Portugal is in position 34, in 190 countries. Despite this slight difference in positions, Belgium finds it easier to resolve insolvency, better protection for minority investors, better credit, an advantage in obtaining construction permits and greater opening of companies. As for international trade, both have an excellent performance of 100%.
This is some of the information you can find in this market notebook dedicated to Belgium.
As mentioned, you can find the complete document on the Master Export project website.
In the coming weeks we will present summaries of other target markets for the project, as part of the information to support the development and preparation for the internationalization of the metalworking and habitat companies.
These incursions are relevant at a time when the development of some of the activities that were planned in terms of presentation and development of these themes is conditioned by the circumstances created by Covid19.
Information is the best and biggest weapon for developing an internationalization strategy for any market. Knowing the details of the market and customers with whom you will contact, will allow you to increase the chances of success and achieve more agile solutions with greater opportunities for return on investment made to increase your activity in terms of geography and opportunities.