Prepare yourself before locating in Austria: In general the following applies: the more prepared a company is when it enters a new market, the quicker and more successfully it will gain a foothold there. A good market overview focusses on several crucial factors: market size and potential, market trends and above all, a detailed analysis of competitors.
Other important questions are: how high are the local labor costs, property prices and ongoing operating costs? Which industry clusters and educational facilities exist to facilitate the recruitment of skilled employees? What funding schemes and research promotion incentives are available? Moreover, small markets can be more lucrative than they initially seem, depending on their respective purchasing power. “We frequently see that companies primarily want to locate their operations in the capital city”, says Hans Nagl, ABA Director for the North America Region. “It often happens to be the right strategic decision, but not always. In addition, it is a good idea to select the right district within a city on the basis of market intelligence and ‘hard facts’, and not by hearsay. For example, if one wants to open up a popular restaurant, it would be better to find a site near an underground station than locate it on the outskirts where it is less accessible.”
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