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The Guide to Spain
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WHY START A BUSINESS IN SPAIN?
Many people moving to Spain and needing to make a living end up starting their own business in Spain. Often it is because of the frustration of looking for jobs and work. When you do find a job in Spain you then find it is very low paid compared to Western Europe or America. At that point many people decide they would be better off to start their own business in Spain.
ADVANTAGES AND DISADVANTAGES TO STARTING A BUSINESS IN SPAIN
With so many people moving to Spain from countries such as the United Kingdom there is more scope than ever to set up and start a new business in Spain providing services and new ideas to these expats.
If you start the right business in Spain you could be sitting on a goldmine if you are first.
Unless you are fluent in Spanish or can employ Spanish speakers then your new business in Spain is most likely to be in an expat area on the Costa del Sol or Costa Blanca and will probably be catering to the growing expat population. Even so you will need to learn how to speak Spanish to cope with basics.
When you start your own business in Spain you open up the potential for high earnings - there is no ceiling and no restrictions. Of course this doesn't mean starting a business in Spain is without potential downsides.
When you start your own business in Spain you don't have a guaranteed income so allow time and have at least six months savings to survive on.
You start your business in Spain from scratch and have to build a customer base which will involve outlaying money on advertising, setting up premises etc. before any money comes in. Most people who start a business in Spain fail because they run out of money before the business starts to take off. If you can get past this difficult initial period you should start to reap the benefits of starting and running your own business in Spain.
Note that the failure rate of new start-up businesses in Spain is high. Many people start a business in Spain in expat areas which makes sense but there are already many other businesses providing services to the expats. Most people who start a business in Spain open a bar or restaurant. Before you start a business in Spain ask yourself these questions:
Are there already too many other businesses in competition with each other?
How is your new business in Spain going to differ to existing businesses?
What can your business in Spain do differently to get an edge?
Do you have a new business idea for Spain that doesn't exist yet?
Is there a market in Spain for this new business idea? Research it first.
IF YOU WANT TO START A BUSINESS IN SPAIN THEN CONSIDER BUYING AN EXISTING BUSINESS FOR SALE IN SPAIN OR A FRANCHISE IN SPAIN