Market Entry Project: A Strategic Step for SMEs

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Expanding into international markets is a critical process for SMEs to gain a competitive advantage and establish a sustainable export structure. However, this journey requires not only courage but also a well-planned strategy to achieve success. At this point, the Market Entry Project Preparation Support provided by the Ministry of Trade serves as a guiding resource for companies aiming to expand internationally.

Why the Market Entry Project?

Achieving success in international trade requires proper market analysis and strategic planning. Understanding the cultural dynamics, consumer habits, and competitive landscape of the target market is essential for ensuring a company’s sustainability and profitability. The Market Entry Project supports companies in entering new markets with the right strategies, making investments in branding, and ensuring continuity.

 

Scope and Benefits of the Support

The Market Entry Project Preparation Support provided by the Ministry of Trade is a mechanism that helps companies enhance their competitiveness in international markets and take well-informed steps. The advantages offered within this support framework include:

  • Current Situation Analysis: Evaluation of the company’s export capacity, organizational structure, and operational processes.
  • Target Market Analysis: Assessment of consumer behaviors, competitor analysis, legal regulations, and sectoral insights in the relevant market.
  • Implementation Plan and Branding Strategies: Strategies for market entry and sustainability.
  • E-Export Strategies: Digital marketing, e-commerce platforms, and logistics processes.
  • Financial Support: Consultancy and reporting expenses are covered by the government at a rate of 50%.
  • Travel and Accommodation Expenses: Expenses incurred for market entry activities are covered within the limits set under the support program.

Support Rate and Application Requirements

The financial support provided within the scope of the Market Entry Project is structured as follows:

  • 50% of project expenses are supported.
  • Maximum support amount: 557,727 TL.
  • A company can benefit from the support for a maximum of two projects.
  • Support covers up to 3 countries and a total of 10 days per project.
  • A maximum of 5 trips per year and 20 trips in total are supported.
  • Support of up to 278,091 TL per trip.

 

Application Process

Companies wishing to benefit from the Market Entry Project support must follow these steps:

  1. Preliminary Assessment: An initial analysis is conducted with a consultancy firm based on the company’s export goals and strategies.
  2. Consultant Selection: A contract is signed with an accredited consultancy firm approved by the Ministry of Trade.
  3. Project Preparation: The consultancy firm prepares a detailed Market Entry Project tailored to the company’s target market.
  4. Ministry Approval: The prepared project is submitted to the Ministry of Trade for approval.
  5. Utilization of Support: Once the project is approved, the support is utilized for the specified expenses.
  6. Reporting and Monitoring: Expenses incurred within the scope of the project are documented and reported to the Ministry.

 

Required Documents for Application

To apply for the Market Entry Project support, companies must submit the following documents:

  • Official Application Form: Available through the Ministry of Trade’s online portal.
  • Company Registration Documents: Commercial registry records and exporter membership certification.
  • Export Plan Report: Prepared by an consultancy firm.
  • Financial and Budget Plan: A detailed breakdown of planned expenditures and financing sources.

These documents can be obtained through the Ministry’s website or the relevant exporters’ association. Companies must ensure that all forms are accurately filled and submitted within the specified deadlines.

 

For SMEs aiming to establish a strong presence in international markets, the Market Entry Project Preparation Support offers a significant opportunity. With well-planned strategies and a comprehensive market entry project, companies can achieve sustainable growth and gain a competitive advantage. By utilizing this support from the Ministry of Trade, you can shape your company’s export journey with confidence!

 

Hedef Koç Consulting Company continues to serve you in your Market Entry Project applications with the consultancy service it offers with its 30 years of sectoral experience.

 

You can also benefit from these supports to carry your company’s potential to the international market and to grow your export volumes in a healthy and economical way. You can contact us for information.