14 Mar The U.S. Energy Market event at Vaasa Energy Week was a great success
Martina Buss, Viexpo
Commissioner Tim Echols, Georgia Public Service Commission, presented perspectives on how Finnish companies should approach the US market. He pointed out, among other things, that his own state, Georgia, is twice as large as Finland. In this case, succeeding in this market alone will bring the company a huge new market in addition to the domestic market. However, you should choose a suitable market area for your company based on where there is demand for your company’s products or services.
The panel discussion highlighted how important it is for those interested in the US market to start by visiting that market. You can’t explore the market without visiting it. In addition, the importance of contacts and networks as well as understanding of the country’s way of doing business were emphasized. E.g. For Gen-H, one visit to the market was enough when the networks were in order.
The importance of mutuality was also discussed. When trades are made, mutual benefit is only beneficial. An interesting detail in the discussion was the possibilities for cooperation with US companies already in the European market. Through these companies already operating in our markets, the markets in the USA can also open up in a new way.
The discussion also highlighted the aid available and its importance for growth-oriented companies. There are also various financing opportunities that Finnish companies should take advantage of. The sums involved were also considerable.
Finland’s accession to NATO also brought up aspects that Finnish export companies should consider from the perspective of their own companies.
1. In procurement, the market is very large, and the demand for products and services is very diverse. In other words, procurement does not focus solely on products that are primarily considered necessary in military contexts. There is a wide range of demand for products from different fields. In this case, only your imagination is the limit when considering what your own company could offer in procurement.
2. You should approach the market carefully and purposefully with a focus and offer only products in which your company has solid expertise and something to give. Reputation is a very important part of decision-making.
3. Finland has recently joined NATO and is therefore familiar almost everywhere in the United States. This recognition and visibility should now be utilised if the US market is of interest. Some of the awareness work has already been done.
Thank you to the experts for their interesting contributions: Tim Echols, Commissioner, Georgia Public Service Commission, Jarkko Surakka, Managing Director, Epinova Oy, Minna LeVine, CEO, Chamber of Eco Commerce, Paul Wertz, CEO, SherpaWerx, Joakim Berg, CTO, Gen-H Oy, Kristian Schrey, CEO, Viexpo.
The writer, Martina Buss, is responsible for communication and administration at Viexpo