With the results achieved, BOW 2023-2024 demonstrates the importance of collaborative initiatives to prepare Portuguese SMEs for the challenges of internationalisation.
The Business On the Way (BOW) 2023-2024 operation, promoted by AEP – Associação Empresarial de Portugal and co-financed by the COMPETE 2030 programme, was concluded in September 2024 after 20 months of implementation. The operation’s main objective was to enhance the competitiveness of Portuguese Small and Medium-sized Enterprises (SMEs) in international markets at a time when globalization and technological advancements pose challenges and opportunities for national businesses.
Framework and Context
Internationalization is a strategic element for the Portuguese economy, as it reduces reliance on the domestic market and promotes market diversification. In this context, BOW 2023-2024 focused on helping SMEs develop internal capabilities to explore emerging and non-traditional markets known for their high export potential.
According to the operations’s framework, special attention was given to creating strategies tailored to the cultural and business particularities of each market. The goal was to equip companies to identify opportunities and implement targeted marketing strategies that ensured sustainable diversification of their clients and markets.
Approach and Intervention Model
The BOW operation adopted an intervention model structured around strategic sectors and industries for the national economy, incorporating differentiated and technologically innovative products and services. This model prioritized joint and collaborative actions, focusing on activities such as:
This approach aimed to create synergies and promote knowledge and experience sharing among participating companies, ensuring they maximized invested resources and increased their visibility in global markets.
Key Performance Indicators
During its execution, BOW 2023-2024 achieved significant results:
Additionally, the operation included participation in 24 international trade fairs, the organization of 11 business missions and 1 reverse mission. Parallel to these activities, 25 workshops and seminars were held, involving 746 companies and contributing to strengthening their internal capabilities.
With an execution rate of 86,66%, the operation demonstrated consistent implementation aligned with the outlined objectives.
Contribution of COMPETE 2030
According to Jorge Marcolino, Director of the International Department at AEP, “The programmes promoted by COMPETE 2030 have a fundamental importance and relevance in developing this type of projects and intervention models, playing a crucial role in the country’s economic development. Through these programmes and European funds, Portugal has been able to implement strategic projects that would otherwise be challenging to finance solely with national resources.”
Impact on SMEs
BOW 2023-2024 concluded as an initiative that helped Portuguese SMEs strengthen their international presence, explore opportunity markets, and promote products and services with high export potential. The actions carried out enabled companies to establish direct connections with international partners and clients, expanding their business prospects in a competitive global context.
Support from COMPETE 2030
The operation’s eligible investment amounts to €5.055.003, of which €2.773.599 are ERDF incentives through COMPETE 2030.
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