6 Great Countries For Your Business

Are you thinking of starting a new business? Maybe just expanding?Many entrepreneurs dream of launching a business in a foreign country, however, only a few go through with it.

So, why is that?

Often, entrepreneurs get paralyzed by their fear. After all, building a business abroad isn’t an easy feat. It entails great risks, and it can be overwhelming.

However, if you want to go big, you shouldn’tlet your fear control you.

Instead of focusing on what could go wrong, think of allthe reasons why you should be launching a business abroad.For starters, your business could be more profitable in less saturated markets.Some countries alsowelcome foreign investors with open arms. They could offer you tax cuts and grants which would give you an advantage right from the start. Of course, not all countries are as kind to foreign investors.

Hence, you ought to do a bit of research before taking on a new business venture abroad. To help you find the right country for your company, here are six of the best places to start:

1. Thailand

A gateway to economic trade in the Southeast region of Asia, Thailand welcomes investors from foreign nations who promote innovation, technology, and trade skills.Literacy rates are high in the country, which means you will have no trouble finding an intelligent and productive workforceonce you launch your business here. Additionally, employing a Thai workforce is also cost-efficient, as the average daily wage in Thailand is approximately $6.

2. India

Another country worth considering is India.Due to their growing population, there is an increasing need for livelihood opportunities across the country.The younger generationswant to look foropportunities beyond the agriculture sector and daily wage jobs. For entrepreneurs, this means you can start a new business with the help of a strong and young Indian workforce.Like Thailand, India has business-friendly policies and low operational costs for setting up a business. Naturally,this makes it a lucrative choice for building your next business venture.

3. China

The Chinese government is closely affiliated with its many businesses. They offer a lot of support to drive entrepreneurship as well as innovation. Much like India, China’s consumer market is vast and ever-growing, which means businesses have endless opportunities for expansion. You also won’t have trouble finding partners, investors, and other resources in the country (especially in cities like Beijing and Shanghai).

4. Singapore

Devoid of unnecessary and complicated paperwork, Singapore is one of the easiest countries for doing business, second only to NewZealand. This small Asian country is a politicallystable and well-developed society based on trade, finance, and manufacturing. It offers a stable environment for business investments and expansion. If you invest in this market, you will benefit from lower taxes, incredible infrastructures, and a productive English-speaking labor force.

5. Malaysia

World Bank ranked Malaysia the 15th easiest place to do business.It’s a few spots lower than Singapore, but it’s higher than the rest of the countries in this list. Compared to Singapore, Malaysian businesses have low startup costs and low operational costs.Thanks to government incentives and liberal policies, the country is conducive to business investments.

6. Mexico

Crime is one of the nuances of doing business in Mexico. Often, it discourages investors from starting a company in the country. Before you let that get to you, take a look at the advantages of starting a business in Mexico. In the last few years, the country has seen extensive business reforms making it a friendlier environment for foreign investors. The country alsohas a strong and more affordable workforce compared to the US. Not to mention, Mexico has more free trade agreements than any country, making it accessible to a wide range of businesses around the world.

Taking your next business venture overseas is far from easy. Indeed, there are some nuances; however, as you’ve seen in our list, there are several advantages as well. If you aren’t sure if starting a business abroad is the right move for you, or if you need assistance in utilizing other countries to help your business in your home country, let us know. At our parent company Solomon Signatures Inc., we can steer you in the right direction.

Business à la Grecque – Investing in Greece

Greece! Nice little country. What jumps to mind though when you’re considering doing business there? Could it be Silicon Valley computers? Could it be good old Detroit automobile manufacturing? No. None of the above. It’s tourism that the country is famous for: beautiful beaches and landscapes, archeological sites, culture and food. Oh, and of course, wine which has been growing steadily since the 1980s, and ouzo – the country’s anise flavored drink – is a favorite both among locals and tourists.

Let’s have a look at the country’s economic background: with so much going for it, the country is only now recovering from an eight-year financial crisis comparable only to the Great Depression of the 1930s, or to Europe during World War II years. The unemployment rate which had reached 27%, it is now at 19%. It follows that labor costs have decreased significantly, and so have real estate prices, for lack of demand.

What does this mean for you? With real estate prices down and depending on your budget, you can buy apartments and summer houses/villas, renovate them, furnish them, equip them with modern comforts, and then rent them to tourists via San Francisco based Airbnb or other similar websites. You can even buy an old building and turn it into a luxury “boutique” hotel.

Moving up the cost ladder, five-star-hotels are demanded and needed in Greece because the profile of the tourists that visit the country is shifting towards the high-end niche. Buying land and building a luxury complex from scratch is a very good idea as the endeavor will cost much less than it would ten years ago.

Another investment opportunity would be marinas where yachts and sailing ships can dock with safety. Such a venture will be met with rewarding demand. Greece has dozens of islands, some of which yacht owners would like to visit but don’t for lack of infrastructure. Turkey, on the other hand, with admittedly a much more limited coastline than Greece, has invested more strategically in yacht clubs and often attracts visitors who would have otherwise gone to Greece. Speaking of yachts, buying and renting some to tourists who fly to Greece and want to go island-hopping is also a very good idea.

The following section deals with business opportunities for companies or individuals with a multi-million-dollar budget. Let’s begin with the utility of electric power as well as with that of natural gas. The country’s leading power producer – Public Power Corporation – is producing most of its power at outdated plants and using brown coal as fuel (which by the way, is on the wane). They also employ some hydropower plants on the mainland, but on most of the islands they use petroleum as fuel for the local plants. A new generation of players have entered the market and invested in natural gas-fired thermal plants. It follows, that they also provide households with gas although they have competition from companies which deal exclusively with gas. Another source of competition in the power field are some smaller companies which buy power from neighboring countries and channel it into the Greek market. To that, we should add companies that use renewable energy sources such as wind power and solar energy. Their networks are limited for the time being, but there is great potential in that field so RES qualifies as another investment opportunity.

Finally, there is scientific evidence that western Greece from the Ionian Islands to the southwest of Crete is rich in oil and hydrocarbon deposits. This is worth looking into as Exxon – Mobil has also expressed their interest.

In summary, foreign investment in Greece regardless of how high or how low is welcomed in the country, needed in the country, and for the savvy business player, will prove to be profitable in the country.