Supporting SME market research to ease the decision and lower the costs of entrance to foreign markets.
Public tender for co-financing market research on foreign markets in 2016 and 2017 is implemented under Axis 3 of OP for the Implementation of the EU Cohesion Policy in the Republic of Slovenia 2014 – 2020, with aim to increase SMEs’ international competitiveness.
Goal of a two-year public tender is to co-finance 100 - 111 SMEs’ preparation of market research, to achieve a breakthrough with current products/services in new foreign market or support new products on existing or new foreign market and thus lower their costs of entering a new foreign market or lower their risk of placing a new product on a foreign market.
Market research, according to the tender, is a structured demonstration of data about the market and competition, gained mostly from primary sources, to achieve:
- identification and benchmarking of new market/product opportunities,
- evaluation of appropriateness of product according to the needs of a foreign market,
- preparation of a plan to adapt products to the needs of foreign market,
- identification of suitable sales channels on foreign market.
Grant covers maximum of 50% or 4.500,00 EUR per company. Market research must be conducted by contracted external experts, specialized for conducting market research.
The main partner of the tender is Ministry of Economic Development and Technology.
The total amount of grants available through this public tender is 500.000,00 EUR (250.000 annually).
Evidence of success
Public tender had three deadlines for applications (first submission in August 2016, second in January 2017 and third submission in June 2017). 43 companies were granted 190.725 EUR in 2016 and 40 companies were granted 171.530 EUR in 2017.
Potential for learning or transfer
The measure is part of investment priority of the Operational programme which will result in higher export intensity of companies and more export in the field of services. Measure directly influences the planned result, as it addresses market research of a target market, that is the basis for a) deciding if the entrance on a foreign market is feasible or not, b) what risks does the company take with the selected product/service that it wants to place on a foreign market, c) saturation of the market; and similar.
The measure supports the achievements of indicators of increasing the pure profits of SMEs by sales on a foreign market, as the company directly influences this indicator by entering a foreign market. Consequentially the measure also supports the macroeconomic indicator of encouraging exports on national level.
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