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Business object

 

 

Knowing a profession or having developed a business in a place doesn't mean enough experience for starting the same business or activity in a small poor places hoping in a low budget investment with high returns, especially if targeting local people. Small places use to have strange local rules, strong mentality and really different standards.

The law is favoring locals in specific professions or even are only for locals, or the people in there mind have connected that some professions could only practice from locals.

I worked in the law profession in Albania, FYROM and Montenegro but I needed to keep always a second position like consultant not because of law requirements, but because the locals use to connect the law profession with the nationality, in fact that is happening because of the unofficially side rules, locals believe a foreigner can't know, or even if he/she knows can not execute in the right form. In fact there worry is not that in vain. In some places like in north Albania it's really unsupported a legal law representation in a local court. People use some common for the place sayings, thinks people use to hear as kids from older people, like legend stories, or local hero names etc. which are unknown also for Albanians from other districts, but are often used during court sessions also from lawyers and judges. In those cases, it's necessary a local partner.

Small places use to have still small strong profession or business communities. They don't like competition. Try to learn what is really on around your preferred object. Don't go without any object. The best way to learn a new place is to practice a business you know well

An entrepreneurs is an individual person, with specific abilities. Use what you know better not what earns more. So choose a place that relative meet your profession requests, don't go to teach ski in a place where never snows! But also don't go to teach ski if that is not your profession, just because it's a high demanded profession.

Become trader, if your profession is not working out, there is always something to sell.

Spending some money and getting to the new place doesn't mean a business start. First visit or more visits must have a investigation character. Deciding don't to make a particular business in a place, and fly back home, doesn’t mean a failure, instead some times it's a very right decision, and may save you some money!

If you decide to work just with a foreigner ethnic group somewhere abroad, think how much is it worth, especially in a long run, as soon people abroad, tend to integrate to the local life.

Budiness Plan The People Support from locals Business object Places

 

Sources:

Comparative Law Yearbook of International Business Volume 30

 

Exchange of Information and Bank Secrecy

 
Business Planning: Financing the Start-Up Business and Venture Capital Financing   
   

International Financial Institutions and International Law 

 

Comparative Law Yearbook of International Business Volume 30 

 

 
   
   
   

Read also: Small Business Investing Overseas

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