The limited Danish market
Development has been explosive for Med24, a company selling dietary supplements, health and other wellness products
When Med24, after a short period of success and growth in the Danish market, faced challenges in connection with the limited Danish market, coupled with healthy growth, it was obvious that the company had to start exporting in order to stay in business. The momentum already built up would be utilised.
At first, exports were done using a learning-by-doing approach, but soon it became clear that the complexity of the project required professional mentoring.
"Today we are in close cooperation with IntraVAT A/S, which has assisted us with advice and administration of taxes, VAT and customs duties in connection with exports to Norway. It gives us peace of mind to have IntraVAT as our right-hand man. We know that this part of the business will be taken care of, so we can concentrate on running our core business,” says Nils Træholt, CEO and co-owner of Med24.
So far, the export success has given Med24 four lucrative years in Norway with two-digit million turnover and a healthy bottom line. "I can only recommend to others who are about to export to Norway, to join forces with experts who have the necessary know-how. Had we established the cooperation from the start, we would have avoided a lot of the initial regulation, legislation and logistics difficulties. It takes time to succeed in new markets, but with the right attitude and competent resources on your side, the reward is within reach,” explains Nils Træholt.
Today, IntraVAT helps more than 150 companies in Norway. It is B2B, B2C and Contract Work, which benefit from IntraVAT's many years of experience with tax, customs and VAT regulations.
If you face similar challenges related to exports to Norway, Switzerland or EU countries, do not hesitate to contact IntraVAT to discuss your options.