There are pitfalls in all businesses. For North Americans, however, doing business in Europe means an additional level of pitfalls and restrictions. Nonetheless, it is a fact that markets are fragmenting, competition is opening up on a global scale, and North American companies rely more on profits generated in Europe than ever before. To ignore Europe means also to open up North America to severe competition from European companies. In the meantime, the array of possibilities is increasing by the day - as, indeed, are the array of compliant regulations and other obstacles.
Culture plays a strong part in the equation.
The traditionally entrepreneurial culture that continues to prevail in North America can be very effective in sweeping aside European competition. However, here a note of caution must be sounded. European markets don't respond in the same way. Products don't always have the same appeal and the hurdles can be hidden. Doing business in Europe is about uncovering these hidden hurdles and getting to a working knowledge of the institutional and legal maze of Europe.