It is common knowledge that any US vendor with ambitions to break the European market will often think twice about entering Germany, France or southern Europe due to cultural, linguistic or geographical barriers and opt for the UK and Benelux instead.
A region in which English is spoken widely and has the rest of Europe on its doorstep, the Netherlands, Belgium and Luxembourg may only house a third of the population of its neighbour Germany, but has nevertheless become a key target for vendor newcomers.
Yet finding success in the Benelux market is not as easy as one might think. Our panel of experts, who came together as part of our European Elite project created in association with Agilitas, agreed that having a local presence across all three countries that make up Benelux, and having staff that can speak all four of the region's languages: Dutch, Flemish, French and English, is vital.
A number of huge organisations have flocked to Benelux from the UK in the wake of the Brexit vote last year, raising the status of cities such as Brussels, Amsterdam and Luxembourg as European business hubs.
But our panel played down the possibility of Benelux cities toppling London, Berlin or Frankfurt as European business capitals, despite uncertainties bubbling over from the UK's decision to leave the EU.
Barrie Desmond, COO of Exclusive, said that although some major financial and insurance institutions have moved operations to Benelux, most companies are still hedging their bets.
"You may get a bit of knee-jerk reaction, already we have seen the likes of Lloyds talk about Brussels, AIG saying they're going to relocate their business to Luxembourg, but who can predict what Europe is going to look like in the foreseeable future?
"The Brexit bandwagon could gain some momentum and you can see the breakup of the institutions which in themselves drag in a huge amount of infrastructure and create jobs and so forth. But there is no doubt in my mind that companies and organisations are looking to hedge their bets."
Glen Williams, CEO of Damovo added that the UK will always be the first port of call for new vendors in Europe as the country boasts flexible labour laws that other European countries just cannot trump.
"My sense having business in Luxembourg, Belgium and the Netherlands, is that there will be some opportunities but I don't see them being huge. I think the flexible labour market in the UK is something we don't see in other places in Europe. That really is a challenge in some countries we operate in," he said.
"We might find small offices springing up in Luxembourg for some of the banks with 30 or 40 people but I still think the UK has a lot to offer in terms of its labour market and skills."
But is the very notion of having a headquarters becoming obsolete? Williams claims that for many companies, where they choose to base their operations is becoming inconsequential to how they conduct business.
"I think the headquarters discussion has disappeared a little bit. I think the majority of back office staff will typically get moved to eastern Europe, but, for the head office piece, they have still traditionally landed American companies into the UK. I am seeing it is more driven by who is actually leading that organisation, funnily enough. Typically if you have a German guy running EMEA then you tend to find that suddenly the headquarters gravitates towards there," said Williams.