Switzerland
Entering the Market in Switzerland
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Why Expand to Switzerland?
Switzerland is the UK's second biggest non-EU market after the United States. Switzerland is often overlooked by UK investors, which is a shame as they have a sophisticated and amenable business culture and wealthy, discerning populace. There are many business opportunities for companies expanding business in Switzerland. Licensing in Switzerland, or incorporating a business in Switzerland, are also valuable options.
What are the Attractions for UK Business?
Doing business in Switzerland is reasonably straightforward, due to several facts that include the widespread use of the English language, the widespread use of the Euro (although not the official currency), with travel, communications and internet cheap and easy and rules often adapted from EU rules.
Business Opportunities
The UKs main exports to Switzerland are:
- Medical and pharmaceutical products Switzerland maintains a globally leading position when it comes to medical and pharmaceutical products
- Transport equipment and road vehicles Switzerland is home to many highly skilled 2nd, 3rd and 4th tier suppliers, mainly to the German but also to other multinational automotive companies or manufacturers
- Organic chemicals with an importance in going green coming from many states and governments now, eco friendly or organic chemicals are a growing industry.
- Food and Drink - Switzerland is one of the worlds largest per capita food importers, with sectors growing in convenience foods, ethnic foods and organic foods.
Main cities, which you may want to consider as a base when setting up a business in Switzerland are:
- Zurich
- Bern
- Geneva
- Basle
- Lausanne
Challenges Foreign Investors Face
Switzerland still faces some challenges in business concerning its institutional framework and economic environment. This includes stifling bureaucracy in the public sector, trade barriers in certain sectors, lack of mutual recognition of foreign standards, a half-heartedly liberalised domestic goods market, and still far too many difficulties in hiring qualified foreign labour. However these are challenges to be overcome and the key to this is research. Before setting up a business in Switzerland, research your chosen location, your target audience and potential growth of your chosen market.
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