Tampere Chamber of Commerce and Industry together with Team Finland organizations arranged an International Business Day in Tampere Region, in Finland. Broadfolio MEA was invited to participate together with other companies offering practical advice on internationalization. The idea of the event was to support startup companies with cross-functional information about funding, legal and marketing operations for globalization process.
Broadfolio MEA and the Middle East markets raised a lot of interest among the visitors. Especially, the presentation of Kimmo Kytösaari, Managing Partner, Broadfolio MEA got positive attention. Commitment for the market and long term presence in the Middle East area are essential in order to get results in these very competitive markets.
Kytösaari advised to study the market with a local partner when the company has made a plan to enter the Middle East market. A partner with a local presence has deep market knowledge, as well as established local contacts enabling a cost efficient and simple way to enter the market”, Kytösaari summarized. Before entering the market, a local partner can also help in building a business plan and a functional “ecosystem” in the region. The ecosystem often includes the expansion to the entire Middle East region if the company’s strategy and sales supports it even if one business is started initially in one country only.
Kytösaari recommends the United Arab Emirates for Finnish companies when planning to enter new market. The United Arab Emirates has ambitious development plans aimed at diversifying the economy to reduce oil dependence. The state also has many innovation projects including foreign companies as well. Efforts have also been made to develop the legislation and the business environment in the area in recent years. “Once the company has established its place in the United Arab Emirates, it is also easy to expand the operations elsewhere in the Middle East and Africa “, encourages Kytösaari.
Tampere Region is one of the largest growth centres in Finland. The region has built its success by creating a strong concentration of expertise in fields such as health and biotechnology, machine construction and automation and electrical engineering and electronics.
Tampere Chamber of Commerce and Industry is a leading business organisation in the Tampere Region. It represents over 1800 companies and members from the private sector, ranging from industry to services and companies of all sizes.