Ondrej Svoboda, Beeleever & CEO of French Commerce in The Czech Republic, explains how the market works!
What Is French Commerce?
French Commerce is a company that aims at encouraging partnerships between French and Czech companies. First of all, French Commerce’s goal is to meet the clients and find potential partners. It acts through a virtual prospection and attend fairs and trade shows. In 2016, French Commerce will focus on French companies in the sector of the energy and renewables.
Do You Plan To Expand You Model Elsewhere?
On the short run, we plan to increase the connections between France and the Czech Republic. But in the long run, we expect to expand our business to Central Europe.
What Are The Particularities Of The Czech Market? What Is The Entrepreneurial Environment?
The country has faced some recent changes. Indeed, the government hasencouraged entrepreneurship and the creation of SMEs. The country's GDP has grown on average by 4,6% for several years, since the Czech Republic barely suffered from the 2008 financial crisis.
Besides, there is a strong industrial tradition which benefits its dynamic animation industry which creates a lot of opportunities of to enter the market. To enter Central and Eastern Europe, the Czech Republic is a reliable platform to find partners connected to the region.
What Are The Other Major Sectors Of The Czech Economy?
The most successful sector in the country is the automotive industry, more particularly the spare parts retail led by PSA and Volkswagen. Besides, in Brno, the second biggest city in Czech Republic, the biotech industry is also flourishing.
The Startups ecosystem is also very dynamic: the developpers have an excellent reputation while wages are quite low.
Unfortunalety, the country lacks investors and business angels that could enable SMEs to expand internationally.
What Are The Behaviors To Avoid When Implementing Your Business In The Czech Republic?
First of all, Czechs may appear a bit cold at first but they actually are warm and welcoming. Second, before meeting with a Czech entrepreneur, take the time to get to know their culture. They are very proud of their culture and they are impressed if you show them that you know a little about their culture. Third, even though thecorruption is receding, you should still be careful about it.
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