Changing the routine and moving to a completely different place for all its excellent benefits is a big step for anyone, but the most important thing is that you should know that there are innumerable business opportunities in Mallorca. So, today we will talk about more excellent recommendations to start your business planning in Mallorca easily, keep on reading!
Business planning in Mallorca
Setting up a business in a different country takes time. And you will need a well-prepared and serious business planning that includes a SWOT analysis of the first 6 to 12 months of your business, especially if it’s a new business.
If you want to manage a business that already exists, you must get complete information from its members (from employees to associates) to be able to handle everything with greater ease.
Budgets and financings
You must think very well that you will need more money than you thought at first. There are always additional costs to pay and delays with the procedures. The same goes for financings, they will not always give you the amount of money you are looking for.
In addition, you should know that, in Spain, when there is a financing, the applicable VAT refund paid each quarter may take up to 17 months to be returned.
Don’t be fooled by the dream of going to a heavenly place; starting a business and becoming a millionaire out of nothing. You should pay attention to those failed business stories you hear. This could happen to you too if you do not take care of budgets.
Hire a professional
Take advantage that you will be constantly going to the island to hire professional advisors to help you with your business.
You can find one recommended by the network of contacts on the island; or another that has excellent references (personal, commercial, work references, and more), that can advise you on everything you need.
Go to Mallorca and don’t miss the chance to start a business there, there are many opportunities!