According to a recent survey by YouGov and KMPG, 36pc of small and medium-sized firms in the UK say that they have decided against exploring overseas markets due to red tape, legal concerns and the time and expense it takes to build networks abroad.
Whether you're considering approaching the market from the UK, the US or another country, reticence is damaging, as businesses that export are statistically proven to be more successful and have enhanced options for future growth.
That said, as with any foreign market, there are a number of bureaucratic hurdles to overcome. A financial or tax advisor can be of great help in negotiating these barriers. Furthermore, Germany is highly regulated and companies need to check how these regulations affect their sector first before committing to entering the market.
On a positive note, the basics of German company law have many similarities to those in English-speaking countries. For instance, it distinguishes between limited liability companies, joint stock companies, and various forms of partnerships in the same manner as in Britain. To make sure you take the most trouble-free route to market, it is advisable to appoint a lawyer to help you with the necessary paperwork.
From our base in Germany, we have extensive experience of doing business in the country and a network of contacts to help you at every point on your route to success in the German market.