AICEP to support companies to scale with sights on US market

Portugal’s overseas investment and trade agency AICEP has made a commitment to encourage and support the country’s companies to scale up.

Around 90% of Portugal’s companies are micro or small companies and a difficulty to scale is widely seen as a reason why the country has been unable to be competitive and increase its productivity which is below the European Union average.

The Productivity Gap represented as Portugal’s output per worker and output per hour worked are estimated to be roughly 25% to 30% below the EU.

Paulo Rios de Oliveira, administrator of AICEP, stated that the public entity had “a duty to do many things, including helping (companies) in various ways.”

The administrator emphasized that companies can trust this entity, as it guarantees that it will not compete against companies, does not share information with third parties, and provides a “valuable” and free service.

Helping companies grow and internationalize is one of AICEP’s missions, and it can “be your partner,” since it has a presence in several markets and “presence in the international market is important” when a company is thinking about expanding.

Mr. Rios de Oliveira said the first step to take to grow was to know the company, to understand if it is prepared to make the leap. Companies “really want to grow,” given that “the signs are very contradictory.”

Paulo Rios de Oliveira stressed that one of the biggest challenges for companies at this stage is understanding “how to achieve a margin that will give a better result.”

AICEP helps Portuguese companies scale globally by providing targeted internationalisation strategies, export development programmes, and business matchmaking. It reduces the risks of global expansion by offering local market insights, operational support through a global network, and specialised talent training.

AICEP has recently been encouraging companies to export more to the United States, the country’s largest non-EU market, particularly the Midwest states of Illinois, Indiana, Michigan, Ohio, Wisconsin, Iowa, Kansas, Minnesota, Nebraska, and North and South Dakota.

For example, on June 15, AICEP is organising a “Go to Market USA Midwest” workshop aimed at Portuguese companies that aspire to export to this American state or deepen their knowledge of its characteristics and opportunities.

The session will begin at 10 AM in the Tom Jobim Room of the Hotel da Música, in Porto, and will feature the presence of Mário Quina, AICEP delegate in Chicago.

The Midwest of the United States of America is one of the largest economic powerhouses on the planet.

If it were an independent nation, its combined GDP would surpass that of countries like Germany or Japan, positioning itself as the 4th largest economy in the world.

Furthermore, the entire USA is currently the largest economy in the world, standing out for its robustness, sophistication, and demanding standards, leveraging high volumes of business.

It is fundamental that Portuguese companies adopt a structured and consistent strategy to approach the US market, particularly the Midwest.

In this context, the Go to Market USA Midwest workshop presents itself as a practical initiative to acquire knowledge, establish contacts, and identify business opportunities in various sectors. The session will also include a presentation of the Export Online Program, with solutions to support companies in conducting digital business in the US Midwest market.

In terms of funding, while AICEP does do not provide venture capital directly, it facilitates access to crucial State and European Union funding programmes.

Source: AICEP; Credits: AICEP