IE Business School workshop on the internationalization of Spanish SMEs in the US

Participants in the workshop included José María Castillejo and Laura Vega, President of Zinkia Entertainment and Director for International Development at Incosa, respectively; Fernando Lanzas, General Director of Promotion at ICEX; Carlos Martín Tobalina, General Director for Industry and Technological Innovation, Castilla y León regional government; Santiago Íñiguez de Onzoño, Dean of IE Business School; Juan José Güemes, President of the IE Business School Center for Entrepreneurial Management; and Enrique Ogliastri, Néstor Miranda and Miguel Aguirre, three expert professors at IE Business School in the areas of negotiation, strategy and economic environment. The workshop examined issues like challenges facing Spanish SMEs when expanding abroad, how to negotiate and do business in the US, or the keys to doing business in the Anglo Saxon business world.

Experts underscored the fact that in order to ensure that the internationalization of Spanish SMEs is successful and profitable it is essential to analyze the market, seek partners and distributors, and build contacts abroad. The US offers enormous potential for Spanish SMEs, but experts pointed out that crucial factors included designing a good business plan, doing a careful analysis of key aspects such as the corporate culture in the US, preparing a quantitative and objective business plan, or searching for the right partner and contacts. Participants drew attention to the fact that the current economic situation, with the dollar weak against the Euro and a significant trade deficit in the US, it is possible for Spanish firms to gain a foothold in the American market.

Initiatives at IE designed to promote Spanish SMEs in the US market include the Global Consulting Practicum in partnership with Wharton. Corporate participants in the project will include 2 SMEs interested in penetrating or consolidating their presence in the US. Selected companies will spend 6 months working with a team comprised of MBA students from IE And Wharton, who will steer the firms' strategies for entry into or consolidation within the US market, providing managerial talent coupled with an extensive network of contacts, experts and professionals from the two Schools.  SMEs interested in the participating in the initiative should contact the IE Business School's Corporate Partners department (corporate.partners@ie.edu).