Moving into an international market is both a great accomplishment and a huge challenge for businesses. Every market is different, every culture is different and they all come with their particular share of obstacles.
Whilst moving into a new region may seem complicated, in reality it is all about research and knowing what that particular market needs and where the opportunities are.
Austria is an emerging market in Europe, and one you may not be able to afford to ignore. It has over 8 million people and is the 12th richest country in the world, making it a market that is ripe for the taking if you have the right idea and the right product.
It is important to consider the country’s needs when determining whether you have a product to meet certain demands. With its proximity to Germany and its own contributions to the industry, Austria’s automotive industry may be a bit saturated.
Metal is an industry that is also very well supplied by the Austrian people so you would want to think twice if you’re in the steel business. However, if you are considering importing tea or other food items, the market could have a place for you. Austria also has a large presence of retail companies which could help you find the right partner for your business.
If you are a UK company, handling VAT is a top priority. Becase both countries are part of the European Union, you don’t need to pay VAT provided you have proof of export and the right documentation from the Austrian MwSt.
Remember, the hardest part of importing within the EU is not moving the goods from one place to another, but making sure the documentation and invoicing is done properly.
Duty is paid depending on the type of product you are importing to Austria. Books are duty free, while other items, such as certain articles of clothing, can have a duty rate of up to 17%.
It is crucial to do your research and consult a customs expert. Regulations can be very granular and specific, and it is better to have all the facts before making a move.
Shipping certain items to Austria, such as alcohol or perfume, have very particular restrictions that apply on the case by case basis. If this is your business you naturally have to be concerned about doing everything the legal way.
When it comes to shipping, it’s always good to have a professional in your corner; a company that can advise you on all aspects of shipping your product to Austria or any other country.
Understanding the lay of the land is very important, as it can severely influence your supply chain and other aspects of your logistics strategy. If you are not prepared to handle it yourself it is best to leave it in the hands of a great shipping partner.
Austria is a great country and a very exciting business opportunity. If you have already conquered your home country, it could be the logical next step in your company’s expansion plan.