Branding plays a role in go-to-market

When talking about go-to-market, you often hear this term used when the company is in the stage of international expansion or targeting particular geographical market. I think people often get this term wrong. Whether you are starting with a new innovation, a start-up or a large company, you need to plan your go-to-market strategy.

Go-to-market planning at its best starts a lot earlier. It can start as early as when you have your first demo or a prototype. Well conducted go-to-market takes into account unique selling points, competition and above all customer needs. Go-to-market is really about packaging your offering ready for the market(s) and making it appealing for all stakeholders. It’s about launch strategy taking into account to whom you are selling your product rather than internationalisation strategy where you are looking at dynamics of particular market and your product-market fit (although this can be part of go-to-market).

Branding plays an important role in this and in order to get the go-to-market right you would need to work with designers and marketing experts. Even business model canvas is not really concentrating on things like story, visuals and target group which are part of go-to-market. Technology commercialisation is focused very much still on technology choices, protection, product features, pricing strategies, product development, team building and distribution. All this is necessary but in order for products to align with customer needs, marketing needs to play a role in the process. Here are some questions you can start with:

  • Value proposition: What value are providing to users?
  • What kind of feedback have you received?
  • What is your story?
  • What kind of users do you see using your product or services?
  • What kind of visual world are you providing to your customers?

Go-to-market happens in networks where users, branding and technology specialists are working together to launch not only the best but most appealing innovations to the world.


This article is supplied by Maria Sipila of Sipila consulting. Read the original article here.

How did Helsinki reach start-up stardom?

Scandinavia has held a certain chic popularity throughout the rest of Europe for a number of years now, from the Hygge craze to the Swedish and Finnish bakeries popping up around the country, it seems that the UK can’t get enough of Scandinavian culture.

As well as being ahead of the curve on baked goods, Finland have also been excelling in the start-up scene. Over the last five years, Finland has seen at least a one-billion-dollar exit from its start-ups per year, with start-ups in a wide range of fields – from tech to design and education – making their mark globally. Despite being a nation with a population of just under 5.5m, considerably less than that of even London, Finland boasts 10% of the world’s start-up exits.

An up-and-coming tech giant

While Helsinki doesn’t yet compare to the success of Stockholm in the field of technology, they’re not doing too shabbily. They’re home to a number of mobile developers who have created internationally loved mobile games including Rovio, who developed the insanely popular Angry Birds and Supercell, developers of Clash of Clans.

Helsinki also boasts a myriad of tech start-ups that, despite being far from household names just yet, are already proving their worth and ingenuity in their respective fields. Nordic JustEat equivalent Wolt has already expanded from Helsinki to Stockholm and Copenhagen in the past year, and smartphone manufacturer Jolla, founded by ex-Nokia staff – another Finnish tech giant – is making waves and raised $12m in a Series C round last year.

Why Finland?

Finland’s success within the start-up scene over the past decade can at least in part be attributed to a government which supports start-ups while also giving them freedom and independence. Finnish business policies include public support campaigns, dedicated mentor programs and a funding agency for innovation known as Tekes.

Finland is also quick to think internationally. With such a small workforce available at home, Finnish start-ups are some of the first to look outward when business takes off. Helsinki’s super successful start-ups are quick to expand into Europe and beyond, which can quickly catapult these burgeoning businesses to global success.

If you’re looking to expand your start-up business to the United Kingdom, Goodwille can help you with everything you need to get the UK company started and rolling effectively and efficiently. With years of experience helping companies with legal, HR, payroll and financial administration, our team of knowledgeable professionals can guide your UK expansion to success. Get in touch with us today for more information.

Goodwille hosts Launch in London during London Tech Week 2018

Join us on 14 June for Launch in London – London Tech Week’s hottest event for any business establishing in the UK!

Hosted by Goodwille at Level39, one of the world’s most well renowned and connected tech hubs, Launch in London will provide you with everything you need to succeed with your business in London. Get inside tips on the Do’s and Don’ts when starting up in the UK, how to navigate Brexit, the British business culture and how to grow your network with the right people while overlooking London’s skyline.

This is THE event for startups, entrepreneurs and businesses looking to establish in London, as well as for mentors and advisors helping tech businesses succeed on London’s tech scene.

SPEAKERS
Alexander Goodwille, CEO of Goodwille will share the best tips, and the pitfalls to avoid when starting up in the UK.

Mark Leaver, Creative Industries Specialist of DIT – Department for International Trade will discuss why despite Brexit, the UK is still very much open for business and why you should start your business in London during 2018.

Joanna Dodd, Director of Rochester PR will share helpful insights on marketing, PR & how to get connected with the right people in the UK.

Joanna Smit, Owner of SMIT Training will help you understand the British people and culture and provide you with the intercultural skills you need to make your transition in to the UK market.

The seminars will be followed by a Q&A session, drinks, canapes & networking (plus opportunities for panoramic photographs of London!).

EVENTS DETAILS
Date: Thursday 14 June 2018
Time: 10am-1pm
Location: Level39, One Canada Square, Canary Wharf, London E14 5AB
Free entry

REGISTER FOR THE EVENT HERE


If you have any questions about the event, get in touch with our Marketing Manager James Service on james.service@goodwille.com or 020 7795 8100.

Top reasons why the UK is the best place to grow your business

There are several reasons why the UK is the #1 destination for European companies expanding beyond their home market. These are the top reasons why the UK is a good place for doing business and why it should be the next stop on your growth journey.

Business-friendly environment
It is easy to start a UK company, laws and regulations very much encourage doing business, and the tax levels are much lower compared to many other countries. This creates a foundation for your business to succeed without too much bureaucracy and administration from your end so you can focus on growing the business!

Language
As everyone learns English in school these days, you will never face communications issues when doing business in the UK! Being able to communicate with anyone helps in case you ever face difficulties or have questions. And Brits are a very friendly bunch and always keen to help out!

Culture and diversity
The UK is a diverse country when it comes to nationalities and cultures. The diversity is one of the key strengths of the UK that have contributed to the breadth of businesses and opportunities. Coming from outside Britain is definitely an advantage, and playing on your cultural heritage can enhance your brand.

Market size
The UK market is big, but not TOO big. Both B2B and B2C companies, regardless of industry, have all possibilities to thrive. Being one of the main hubs for finance, startups, fashion and manufacturing worldwide, there’s definitely opportunity for your business to succeed without getting lost in the big crowd.

Any questions on the opportunities for your business to succeed in the UK? Goodwille can help make the international move smooth and give you a kick-start on the UK market, get in touch with us today!

Goodwille exhibiting at Welcome to the UK

On 20 February, the event Welcome to the UK will take place in Stockholm, and Goodwille are happy to announce that we will be attending and exhibiting at the event.

Welcome to the UK is the event for any individual or company looking to learn more about expanding to the UK and the business potential of the UK market. As Goodwille have over 20 years of experience helping Swedish businesses expand to and establish in the UK, we are happy to share our experiences with aspiring and growing companies, and look forward to an evening filled with interesting discussions, exchange of ideas and of course helping businesses with answering any questions about doing business in the UK.

If you wish to meet us in Stockholm and hear more about how we can help your business establish on the UK market, send an email to johanna.bjarschfollin@goodwille.com.


The event is hosted and organised by the Swedish Chamber of Commerce for the UK, Stockholm Chamber of Commerce, and the British-Swedish Chamber of Commerce. If you wish to attend the event, sign up here

GDPR and your business

Any business looking to set up a subsidiary in the UK, or anywhere in the EU, will have to have at least a basic understanding of the General Data Protection Regulation (or GDPR). The Regulation is the biggest shake-up of individual rights to their personal data of the Internet age and will have a major impact on how data is stored and shared within and without the EU.

What has changed?

From May 25 2018, the regulations change to unite all local privacy laws across the EU – changing the definition of what constitutes personal information to include names, photos, email addresses, and even a computer’s IP address. This applies across a person’s whole life, there is no distinction between a personal email and a work email, for example.

The new rules also introduce new rights for consumers, including the right to be forgotten, the right to know what data is held, the right to object to receiving marketing and the right to have information about them corrected. This means that explicit consent must be received from the consumer for each use of their data before it happens, meaning separate consents are needed for different activities.

What does it mean for my business?

It is vital that businesses comply with the new regulations, with tough penalties in place for non-compliance, up to a 4% fine of global revenue. This applies even to non-EU companies who hold the data of EU citizens, or EU companies who process data outside the Union. While it is a good idea to appoint someone to oversee the transition to the GDPR rules and ensure compliance, it is more than just an IT issue. Sales and Marketing are two of the areas most directly affected.

The most important measures to take are to ensure that you have procedures for properly obtaining the right consents from customers, a policy on what data is kept, where and why, storing the data securely, ensuring that old data is deleted and ensuring there is a procedure for deleting or amending data when requested.

While most of these needs are just good housekeeping anyway, they will soon be enforceable by law. It is very important that all businesses not only understand what GDPR means, but that they also have a plan to transition. Our team of legal experts can help you with guidance and answer any questions you may have about GDPR and how it can affect your business. Get in touch with us today!

Setting up a UK company: How many shares should the company issue?

Setting up a private company limited by shares is one of the most common ways to start a business or expand a business into the UK. However, the law relating to shares in the UK and share capital can be complicated, so it is important to understand your options when it comes to initial share issue. The right number of shares initially issued to shareholders will depend on your specific circumstances, and this post looks at some of the main things you may wish to consider when deciding how many shares are right for your circumstances.

What is the purpose of initial share issue? 

The purpose of issuing shares at the beginning of the company, is to raise capital. For example, if three people wish to start a company, investing £10,000 each at the outset, the simplest way for this to be represented is for the company to issue £30,000 shares at £1 each. However, this is not the only method of raising money for the company.

Alternatively, the company may issue only 3 shares at £1 each, and the company founders can lend the £10,000 each to the company. Under each of these circumstances, each shareholder owns one third of the company, and they will have the same voting rights and powers within the company. For many businesses, both methods are suitable. But, there are certain legal, practical and taxation issues which may make one method preferable over the other.

When the £30,000 is locked into the company as share capital, it is more difficult to get this money back out of the company in comparison to when the company is given a loan. Where a company is loaned the money from the shareholders, the money may be repaid at any time. Furthermore, if the company becomes insolvent, the shareholders may claim the money lent as creditors in any insolvency proceedings. However, share capital is important when the company is seeking finance from lenders, investors and other business contacts. In particular, banks wish to see that share capital is ‘locked in’ to the company, and that it has substance.

There are many things to consider in relation to share issue when setting up a UK company. To get it right and make sure you do the best for the specific circumstances of your company, get in touch with our experts today for advice.

A tale of three cities: setting up outside London

London is the UK’s natural magnet for new business, attracting more than 800 foreign direct investment projects every year – more than 3 times any other region. But with sky-high rents and inflated wages threatening to diminish the capital’s appeal as a destination, we look at three alternative options that deliver more bang per buck.

Bristol

Located on England’s south-west coast, Bristol had long been Britain’s second wealthiest city as one of England’s largest trading ports. In recent decades, the 8th largest city in the UK has swapped tea for terrabytes, being recognised as the UK’s most advanced ‘smart city’, a leader in providing 5G connectivity and utilising big data to improve public services . It is now a powerhouse in the creative industries and also boasts a large aerospace sector. The city was named the Sunday Times best in which to live in both 2014 and 2017, and it was named winner of the Green Capital Award by the EU in 2015.

Cambridge

Home of the world famous University, Cambridge has a bookish reputation and old-world charm, but behind the academic image is a serious business hotspot to rival technology hubs in the US. ‘Silicon Fen’, as the area has become known, is home to some of Europe’s most exciting technology startups and established companies like ARM Holdings and Dante – turning over more than £35bn between them all. Fuelled by some of the world’s top graduates, excellent links to London, and collaboration between businesses and the University, companies in Fen have seen an annual growth regularly top 7.5%.

Edinburgh

Scotland’s capital is world famous as a cultural hub, home to some of the most famous comedy, music and drama festivals, but since the 1980s it has also developed a strong tech sector. As one point of the Scottish ‘tech triangle’ along with Dundee and Glasgow, the city is home to a number of high-tech companies in sectors from semi-conductors to video games. As an added bonus, Edinburgh has the cheapest office space of any major UK city, an eighth the price of London – clocking in at just £66.1 per square foot .


If you need any help with your expansion plans in the UK, or you want to open a UK office, talk to Goodwille today.

Britain Will Always Be Open For Business

On the 23 June 2016 over thirty million people turned out to have their say on whether the UK’s future remained in the European Union.

When 51.9% voted to leave the EU it caused the pound to crash globally and left half a nation enraged with talks of betrayal – 18 months on, we are still waiting for a change. We met up with Goodwille, a patron of the Swedish Chamber of Commerce, who have been helping businesses from Sweden expand their operations to the UK for the past 20 years to find out exactly how Brexit has impacted their business and Swedish businesses decision to enter the UK since the referendum.

Have you seen a slow down in Swedish businesses entering the UK?

Brexit seems to be raising a lot of questions, but not influencing company’s decision to enter the UK market. The Swede’s are naturally risk averse, so at some point during client meetings we usually have to say, “Don’t mention the B word”, but they are usually just looking for reassurance. It seems to have become a conversation starter rather than a major factor in deciding whether they enter the UK. Despite all the uncertainty caused by Brexit to date it has had little impact on us here at Goodwille. Britain remains one of Europe’s most attractive markets for foreign investment and 2016 was our strongest financial year to date.

In my opinion most businesses who are serious about the UK realise the opportunity outweighs the current risk and the high-profile retail chains, along with the smaller start-ups we helped enter the UK from Northern Europe last year reconfirms this. Let’s not forget, the UK is still one of the fastest growing economies in Europe.

How would a hard Brexit impact Goodwille & businesses in the UK?

In 2016 the EU countries accounted for 48% of good exports and 53% of imports to the UK. With this in mind it is going to be in everyone’s best interest to keep the strong European trade links, so I just can’t see a hard Brexit happening by any stretch of the imagination. The UK has been a stepping stone in to North America for countless European businesses. The UK has a population three times that of Scandinavia, a pool of talent and is the tech capital of Europe.

Britain has always had big global trading ambitions. Brexit should see the best of this, making the UK a very enticing place to grow your business.

What would you say to those working in the UK from the EU?

There are over 2 million Europeans working in the UK at present and over a million British expats living across Europe. Brexit is a political issue, and there is surely no wish to eject such a large number of hardworking Europeans. Keep an eye on the embassy website for the official information and do not believe everything you read in the press.

What advice would you give to any Swedish business looking to the UK?

The UK is still a great market to do business in. Yes the rules may change over the next few years with Brexit, but Goodwille is a business with over 450 companies, many of which are facing the same problem. As such Goodwille is uniquely positioned to solve problems related to any changes that might occur and help our clients swiftly and efficiently. Ensuring the client can minimise the effects of any downside.

Goodwille have been helping foreign owned businesses enter the UK market for the past 20 years. To find out more about how Goodwille can help you in the UK, contact me on alexander.goodwille@goodwille.com


This update is for general guidance only. Specific legal advice should be obtained in all cases. This material is the copyright of Goodwille Limited (unless otherwise stipulated) and is not to be reproduced in whole or in part without prior written consent.

4 Things to Consider When Starting Up Your Own Business

For many people, starting a business is a lifelong ambition, but while it comes with many perks, there are a number of challenges that business owners will face. If you are interested in starting up your own business, there are many factors to be aware of so that you can prepare yourself for the pitfalls along the way.

Here are four things to take into account when starting up your own business.

1. You need to have enough money

Before you take the extraordinary leap of faith, you need to be able to make sure you have enough money saved up in order to tide yourself over. Starting and running a business does not mean that you will be raking in a lot of money. Businesses have to start somewhere and they tend to start slowly – success will not come overnight.

Save up enough so that you can fund financial commitments (e.g. rent, bills, mortgage, car payments, etc.) It is often recommended that aspiring entrepreneurs should save up around a year’s worth of income. Try to start your business while working in your job rather than quitting to start the business. Also, see if you can make sacrifices in other areas to save on costs (i.e. house sharing, trading in your latest car for a cheaper model, food shopping on a budget etc.).

2. You need to be passionate, dedicated and committed

There is absolutely no point in starting a business if you are not prepared to put the work in. As previously mentioned, business success will not happen overnight. Be patient and be prepared to put the effort and graft in because it will take time to build up your business (estimated time: between five and ten years).

3. You need to have a thick skin

The reality is that not everyone will see your vision. Unfortunately, some people may judge and criticise you for starting a business. You need to be confident and assertive in your ambition, and prevent the naysayers from stopping you from achieving your dream.

4. Think: is your business worthwhile?

You need to think about the position of your business in the market sector. What can your business bring to the table, so to speak? Who are your competitors? What makes your business stand out? What problems do potential clients have and what solutions can your business provide?

By taking these important factors into consideration when starting up your own business, you can be sure to be prepared for the challenges along the journey to success. At Goodwille we have seen many a businesses grow and flourish, and can help you make sure you have all you need to succeed with your business ideas. Contact us today – we’re here to help!