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Austria.
Dynamic Business Location.

Weekly Tip 1 #LocationAustria: Mistakes to avoid when expanding to Austria

Financial Quarter Vienna © Julius Silver

Whoever takes the step to locate in Austria needs more than just a good product and the wish for corporate growth. Above all, a business plan is required to ensure that the initiative is successful. In addition, a good business plan offers the basis for convincing potential investors and keeping track of how things develop.

“Whoever wants to be well prepared should be ready for future eventualities” is the advice given by Birgit Reiter-Braunwieser, Director Central and Eastern Europe and Russia at ABA – Invest in Austria. “The business plan should cover at least three potential scenarios. Small companies in particular frequently underestimate this.” It is also important to specify the nature and scope of the business activities planned for the new business location. What will be done at the headquarters in the company’s home country and what will be carried out by the new foreign subsidiary? Sales, production, marketing, R&D? In this regard, expanding to Austria should be considered in the same way as setting up a new business. 

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Located in the heart of Europe, Austria offers an optimal base for our internationally orientated business. The great funding options as well as the support of institutions such as ABA – Invest in Austria and the Vienna Business Agency have turned out to be real USPs for the business location Austria. More and more skilled workers are drawn to Austria, because of it’s high living standard. This has helped us tremendously finding highly qualified employees for our company. We feel right at home within the steadily growing international ecosystem and easily built a network with local parties. One can feel the spirit and the will to grow into a bigger startup hub like Germany or Sweden. We hope, that by sharing our positive experiences, we can help attract more global talent to come to Austria.

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