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Why should you start your own business?

Should you start your own business? If you are asking yourself that question, you are almost ready to go for it. This is how the biggest adventures begin: weighing the advantages and disadvantages, the benefits, the risks, etc. There is no lack of motivation when it comes to becoming your own boss. Rather than asking yourself “if” you should launch a start-up, why not ask “why” you should do it? So, why start your own business?

Becoming an entrepreneur to earn more money

Money is one of the primary factors that most people consider when thinking about launching their own business. It is, of course, a valid motivation. However, starting a business often means making less money at first, or even no money at all. Subsequently, entrepreneurs end up earning more or less the same amount of money they did when they were employees. Profits and growth depend on the economic model, the market, the sector, etc. That being said, bosses still generally earn more than the average wage earner. Therefore, you can start your own business to make more money. You just have to be patient and to remember that it can take time.

Launching a business to become your own boss

This factor is motivating enough. Do you want to manage your own schedule? Want to be independent and accountable only to your clients? Are you tired of following someone else’s strategy? Want to take control and test your ideas? If yes, the time has come to create your own company. Entrepreneurs need to have a certain drive and thirst for independence to thrive for success. Being an entrepreneur means having to do everything on your own, taking on all the risks and moving forward. Some may find it too taxing while others will flourish through it.

Creating your own company for the sake of passions and dreams

Another reason people often choose to become entrepreneurs is to devote themselves to their passion. In these cases, other motives and constraints become secondary factors. The only thing that matters is to do what they want to do. While launching your business for this purpose can be a bit risky, passion is a quintessential element in entrepreneurship. It is what will help you overcome obstacles and hard times. If you are passionate about what you do, you will easily convince your customers, partners and employees. Your entrepreneurship experience will also be much more fun and fruitful.

Simply for the sake of work

If you cannot find a job, create one. Jobseekers make up a big portion of entrepreneurs. They often start a business with work as the sole motivation, which is just fine. These entrepreneurs who create their own jobs have a lot to gain in the long run. They end up acquiring experience and knowledge about the world of entrepreneurship. Gradually, they also become more motivated to grow as entrepreneurs.

Or because of great timing

Several elements often become major catalysts in a person’s pursuit of entrepreneurship. One may have every type of motivation and the economic backing to want to launch a business. However, sometimes the conditions are not met. Factors that one might overlook become crucial turning points. The market or the suppliers might not not ready. Even the season or the general local business atmosphere can affect the success or the launch of a business. In other words, timing is important and can be a motive all by itself.

There are a myriad of other reasons why you should open a business. The driving factor however still lies within you. Do you want to become your own boss? Do you feel confident about your service or product? Will you be able to work on your own? Are you willing to learn everything about becoming an entrepreneur? Do you have the patience for it? All of these, any many more unlisted questions, are determining factors that you may want to consider. Entrepreneurship is an adventure. It is up to you to join.

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How to find investors for your start-up

To raise money and start a small business, there is nothing better than investors. These individuals and/or companies pour money into your project, leaving you free to make it thrive. However, sponsors do not provide funds easily. They may also not invest at all if they do not find the idea to be profitable enough. To raise your chances of getting sponsored, you need a truly brilliant idea and solid preparation. Find some tips on ways to get funding below:

Consider joining an incubator for your start-up

You just got your idea for a start-up and you are new to the idea of entrepreneurship. If your project is an innovative one, you can consider joining an incubator. These organisations assist entrepreneurs and help them grow their idea into a flourishing start-up. They provide various types of facilities, such as access to legal services and to a work space. These incubators, such as Turbine, can help you to connect with like-minded individuals and thus create a professional network. They will eventually provide you with the means to get funding for your start-up to grow.

Make your activity visible to investors

Sometimes, businesses do not need much funding to launch on a small scale. Once this is done, you can attract investors by making your activity as visible as possible. Become trendy. Get media attention and work on your popularity on social media. Use influencers and SEO tactics as much as possible. Getting popular in Mauritius is easy since its population is quite small. Journalists are also always on the lookout for innovative subjects to cover. Make your business famous even before you present it to potential investors. This will considerably increase your chances of getting a sponsor.

Know your business from A to Z

The key is to arrive to your presentation well-prepared. If you are unsure about your idea and/or your charts and figures, you will not paint a reliable picture of yourself. The investors will not deem you capable enough to carry out the project. In other cases, they will not deem the project itself worthy enough. An investor is looking for a leader, a ship’s captain. A captain who does not know its ship cannot lead it on a successful journey.

Prepare a rock-solid business plan and revise accounting and management basics. Work on your public speaking skills and rehearse your presentation before the actual day. Focus on communicating your vision and on displaying its potential. You already know your project and your market by heart. So you need to impress with figures to bring credibility to your project.

 

Once you obtain funding, you should work on building sales rapidly. A start-up will only become a fully-fledged business if it demonstrates rapid growth. Investors will also be more at ease about sponsoring your project if they see quick and satisfying results. A fast-growing company will give less opportunity to competitors. Aside from sponsors, you can consider other options to raise capital. These are crowdfunding, money-saving and loans, amongst others.

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How to develop your business on the international scale?

Developing your business abroad seems simple thanks to the Internet. However, internationalisation can fail without a good prior study of the competition, the market, and/or cultural codes.

Digital activities are continuing to grow internationally, partly due to the facilities that the Internet offers to entrepreneurs. It is easy to slack off with the advantages of technology. It allows you to create an activity with the prospect of developing it internationally, all without moving from home. This does not mean that it is effortless. To expand on an international scale, you will need to grow your expertise and multiply collaborations. Therefore, staying at home and taking it easy is not a real option.

Below are some key steps to take when planning to launch your business abroad.

Analyse your business’s performance with regards to the local market

Before considering the expansion of your business on the international scale, you should conduct a study about its current performance. Are local customers happy with the services that it offers? Is your business successful at the local level? If the answers to these are yes, you should try to understand what makes your product/service appealing to consumers.

If you are unfamiliar with the local market or the behaviour of your customers, you can ask them directly. Set up a feedback form on your website, e-mail your clients with questions or conduct a satisfaction survey. The information that you gather will allow you to identify what makes your product attractive to your consumers. This data will be crucial when you start working on internationalisation.

Understand the expectations of the target foreign market

Your product may be the best and most attractive in its local market. There is still a possibility that it will not work at all in a new geographical area. Various entrepreneurs face this problem when they attempt to expand abroad without carrying out prior research.

Determining the readiness of the target foreign market to accept your product is easier after studying its demands. It is also helpful to determine whether the competition is already established and powerful or not.

Be patient and take your time to determine the above factors instead of rushing in unknown territory. If you are lucky, you might struggle a bit in the beginning and learn as you go. With a little less luck, you will most likely fail to go with the trend and you will fall behind.

To avoid wasting your time and effort in an unsuccessful foreign business adventure, study carefully and prepare a viable plan.

Make your business adaptable

Observing the market and understanding it will also allow your company to adapt to its differences.

Adapting is necessary for the successful integration of your business in its new market. Be they languages, symbolism, colours or messages to convey, some are not well accepted in certain cultures. As they, your company should work to blend into the cultural mould of the destination market.

The prior research that you carry out will enhance your adaptability. You will be able to both merge with the culture and offer something new to the market. This is one of the formulas for success that are perfectly calibrated to an international deployment.

 

International growth is one of the most exciting and complicated stages in a business’s life. It can open up the market and the number of consumers within the enterprise’s network. It can also be catastrophic for development if it is poorly managed. Take the time to analyse and understand the new market, its cultural codes, its competition and its consumers. As said above, your product may be the best locally, but it must adapt to succeed internationally.

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Communication: the key ingredient to building a profitable business

Behind every successful enterprise lies a controlled communication strategy. It is essential to integrate this type of strategy into most of your processes. This applies when exchanging with current customers, potential customers, service providers or your employees. Why such a focus on communication? That is because without consistent communication, you will not be able to build the trust of your audience. It will then be difficult to drive commitment and make your business profitable.

How to effectively communicate with the parties involved in your activity? This article provides answers to this question.

Communicating with potential customers

You must be particularly careful when exchanging with potential parties. Below are some rules to build their trust and turn them into clients:

  • Consumers want solutions. No matter what product you launch, highlight its ability to solve a problem or meet a specific need.
  • Focus most of your content on the value that your product or service can bring to consumers.
  • Be creative in your communication. Think about entertaining or inspiring your audience while conveying your idea. Clients will easily remember this type of message and will automatically think of your product when there is a need. Consider using online tools to create excellent visuals or videos. If necessary, you can also employ a graphic designer.
  • Experiment by interacting with the public through questionnaires, surveys and an active presence on social networks.

Communication with customers

Acquiring new clients is much more difficult than keeping the ones you already have. To sustain your business, take care of consumers who already trust you. Here are some tips to help you communicate with them and strengthen their loyalty:

  • Always thank a customer who buys your products by sending a personalized message. You can easily automate this practice if you sell your products or services online.
  • Ask customers to return after using your products and services. Also, consider getting their feedback regarding customer experience. Example of questions are: How did they choose your service? Did they find it easy or complicated to order on your site or to contact you?
  • Set up an irreproachable customer service. Returns, reimbursements and transactions must be smooth and quick.
  • Add a live chat on your website to facilitate communication with customers.
  • Recruit and train customer relationship agents with care; they represent your brand.
  • Ask your customers to produce content (testimonials or recommendations in video or image or text format) on your various platforms. They find enjoyment in doing so and you can easily share high quality content!

 

Communicating with your team

Be it your in-house staff or your service providers, you must always motivate your team. If the people who work with you are satisfied with their objectives, they will become your best ambassadors.

  • Your team needs to know your short and long-term goals. It is important for them to know where you’re going and what you want from them.
  • Get reports from your team members on a daily basis. This can be done either through face-to-face meetings or via video conference. Always ask what you can do to facilitate their job.
  • Develop personal relationships with your team through your communication. Share your life outside of work and encourage them to share theirs. Such a relationship encourages your staff to take initiatives and dedicate themselves to the company.
  • Involve your team when problems arise or decisions need to be made. Ask for their comments and ideas, even if you don’t use them in the end.
  • Openly congratulate and reward team members. Praising a team member in front of his peers is the best way to boost him for the future.

Take care of your communication with all the parties in your company. From customers to suppliers, colleagues and potential customers, all require special attention.

With the myriad of existing means of communication, you can make your business thrive and grow.

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Mistakes to avoid when creating a start-up

A significant percentage of businesses that are created these days are start-ups. These small businesses often stem from brilliant ideas and proceed to develop rapidly.

Launching a start-up requires a lot of fore-thought and preparation. Yet, it is not uncommon for young entrepreneurs to find themselves facing problems that they could have avoided.

Here are some mistakes to avoid when creating a start-up.

  1. Not creating a business plan

Most people become impatient when they think they have found “the right idea”. While understandable, it is recommended that you take the time to plan your project and an accompanying budget.

Creating a business plan is an essential step in ensuring the sustainability of your project. Some start-ups need substantial funds to grow, which makes it very important to keep track of all monetary transactions.

  1. Not adapting to changes

It is very common for things to not go as planned. This is especially the case when launching a business; even more so when doing it for the first time.

The mistake an entrepreneur might make in this case is to stick to the original plan. Changing your strategy can be a matter of survival for your business.

  1. Not taking the first step to launch the product

Striving for perfection, while not a bad thing per se, can be greatly hamper the progression of your business. In other words, wanting your product to be fully developed before it is launched can have serious consequences.

To avoid this mistake, you should favour communication and launch your project. Rather than keeping your innovative idea hidden as you perfect it, it is better to launch a basic version. You will have time to tweak the details later.

  1. Not seeking assistance

Few start-ups are supported by a single person. Often, several skills are needed: research & development, fundraising, communication, marketing, etc…

Working with a team will keep you motivated, even in difficult times. Also, it will be easier to gain financial support as concerned organisations usually prefer teams to solo projects.

  1. Not asking for advice

 

Sometimes, just your opinion and your expertise with regards to your project are not enough.

Be it for the design of your project or for the legal aspects related to your activity, seek expert advice. Lawyers, experienced entrepreneurs and even strangers will tell you the weak points of your business and how to overcome them.

  1. Not making involved people sign a non-disclosure agreement

This is not about trust, it is about common sense.

Many projects meet their end because their competitors get wind of certain crucial elements. Product innovation, marketing approach, partnerships and many other parts of your business should be confidential.

Ask each member of your start-up, and each participant in your project, to sign a non-disclosure agreement.

  1. Not protecting your personal assets

Finally, it is advisable to separate your personal assets from your business assets.

Pay special attention when choosing your company’s status. In case of financial problems, you and your family will be safe.

As long as you go about launching your business in a careful and smart way, you will not experience problems. In case of uncertainty, you should not hesitate to seek advice and support from your family, friends and professionals.

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The road to entrepreneurship: 5 obstacles and their solutions

Great business ideas often come alongside various difficulties to get started. Becoming independent does have an impact on a person’s way of living. Those who work in a company often end up facing a radical change in their lifestyles.

However, if the project really matters to you and could eventually develop into a flourishing business, it would be a shame not to attempt the adventure. Below are some common obstacles that aspiring entrepreneurs face, including the ways to overcome them.

 

  1. Lack of time

The most common reason that people cite as a barrier to their aspirations is the lack of time.

It is true that the process to create a business is time consuming. Developing the idea, creating a business plan, finding an economic model, asking quotes from potential suppliers… All of these take a certain amount of time that most people do not have, especially employees.

There are several ways to work around this problem:

Getting up early in the morning and/or going to bed later in the evening to work on your project before and after work can be helpful. Use to-do list applications to organize your tasks and maximize your efficiency.

Try to see if your company will enable you to take a few days off to start a new activity. If that is not possible, you can consider part-time working options.

On a more drastic note, you may want to discuss your project with your spouse or partner. The decision to live on a single salary while you develop your business is a hard one to make. It still remains a viable option despite requiring you to make certain sacrifices. As the saying goes, time is money, and this leads us to our second point.

 

  1. Fear of financial insecurity

Setting up your own business often means that you will not receive as salary much for several months. All the money that you have and that you will make will be spent on your project. Sales can also be unstable after the launch. In the end, your source of revenue will most probably not be as comfortable as a fixed salary.

However, financial aids are available to the supporters of a project. Various sponsors can provide you with monetary support and incubators can assist you with this problem.

Also, remember that earning less in the beginning is normal for any start-up. The purpose of a business is to earn more money than you could have done in your nine-to-five job. Of course, it also has other advantages, such as independence, freedom, fulfilment, pride…

  1. Lack of money

Contrary to popular belief, opening a business does not necessarily require an absurd amount of money. Depending on the sector or type of the business, some start-ups can even be launched with Rs.0. This is possible if you choose to work on a project which does not require much material input. You can also work with recycled or second-hand items in the beginning.

With careful planning, you can also save enough money to launch your business comfortably. If you are currently working and earn a salary, you can begin amassing your capital now. If need be, you might also wish to reduce outing, holiday or shopping costs.

 

  1. Fear of loneliness

Many people shy away from entrepreneurship due to the loneliness that they associate to independence. However, you do not have to be alone if you do not want to!

There are various ways in which you can get assistance and friends to accompany you as you launch your business. Between incubators, co-working spaces and group rentals, you can work with other entrepreneurs and expand your professional network.

Take part in events such as conferences, expos or fairs to meet people outside of your home or workplace.

Finally, your family and friends will undoubtedly support you and keep you company. Starting a business doesn’t mean that you have to forget your social life.

 

  1. Fear of self-management

You will be the sole master of your schedule, yes. This means, for many people, that you will be very prone to distractions.

The television in your living room will constantly try to lure you away from work. You will miss the sun and will want to take your time to walk in the park. Your friends will want to come and see you on their holidays. The list is admittedly non-exhaustive.

If you are not a natural at organisation and if you do not know how to say no (to your friends or to your desires), then do not work from home. Go to co-working spaces so as to stay focused. You can also use a calendar or to-do list app to keep track of what you need to do during the day.

In any case, self-management will come naturally when your schedule is filled. You will have no choice but to hold the deadlines.

 

The five obstructions mentioned above are not the complete list of factors that prevent people from thinking about entrepreneurship. Many other aspects can dissuade an aspiring entrepreneur to continue down this path. Still, all problems have a variety of solutions that can be applied according to circumstances. If you want to open your own business and are experiencing difficulties, do not lose hope. There is bound to be a way to overcome your hurdles and reach your goal.

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3 ways to promote your start-up in 2019

Every year, thousands of start-ups are born and you might be one of them. While you may have found the right way to develop your business, you still have to work on gathering an audience.

Good communication is the key to promoting your start-up, but this year calls for new ways to attract attention. Strategies such as web advertising, telephone marketing and the creation of a website are simply not enough anymore.

Following the shift in trends, new marketing strategies have been developed. Here are some of them:

 

Develop a content marketing strategy

Content marketing is one of the first solutions you can turn to. Apart from being extremely affordable, its benefits are also more effective.

You can create any kind of content to attract the attention of your audience. From blog articles to infographics, including videos, podcasts, guides and white papers… you have a wide choice! Having various types of content will increase the chances of them being shared on social networks and going viral.

You can go even further by transforming one type of content into another. For instance, a video can be created from various blog posts. This will allow you to capture the attention of a larger audience around the same topic.

However, any content marketing strategy that you decide to implement should go through SEO (Search Engine Optimisation).

Being careful about SEO will be essential to boost your visibility on search engines. To ensure that your content is optimised, you should firstly try to learn more about SEO on the internet. You can also turn to SEO professionals.

After creating your content and optimising it for search engines, you will have to promote it. You can do so via your site, in newsletters or on social networks.

A content marketing strategy should allow you:

  • To make your mark within your industry
  • To be credible in the eyes of netizens
  • To educate your audience about your products or services
  • To Improve your SEO and bring traffic to your site

Some tips

Make sure you know your target before you start creating content. Afterwards, you should regularly measure the performance of your strategy so as to improve it.

Creating webinars

Videos are currently a very popular format. They can be used to create an enormous variety of content: interviews, testimonials, presentations for your company, and many more. So why not webinars?

You can easily introduce your company to the world via Facebook Live or on YouTube. Videos also allow you to promote your product(s) or service(s) by stating its/their characteristics and benefits.

Some tips

Promote your webinar a few days or even a few weeks before actually posting for more viewership.

As for the presentation, it’s always a good idea to favour an enthusiastic tone. Netizens usually pay more attention to dynamic presentations.

 

Partnerships with influencers

Influence marketing is ‘the’ strategy which works for adverting.

While it may not be as strongly present on the Mauritian advertising scene as it is abroad, influence marketing is a very promising strategy. For this strategy to be effective, choose web stars who communicate to a target audience similar to yours. This will allow them to effectively promote your products to a wider audience.

 

As seen above, 2019 is not the year for widely spread marketing systems that are slow-rising. Instead, it calls for innovation and favours those who are strategically creative. So do not hesitate to try new ways to promote your start-up; it will need the boost.

 

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Changing career paths at 50

People have different reactions towards the thought of changing career paths at 50. Some are excited, while some are scared and others are unsure. Many question the need to switch to another job at this specific age since they do not have much left until retirement. The reactions all depend on the point of view. One can see the years they have left at their current job as ‘a short time’ while another may see them as ‘an eternity’. Most people looking to change careers agree with the latter thought. They either do not like the work they are doing or they want to switch to something they like more. The question is: is it possible? It may be difficult, but yes, it is definitely possible to change career paths at 50.

The hardest is to decide whether to stay at their current job or to leave. After passing all these years at the same company, climbing up the ladder and becoming an expert at a specific work, choosing to switch can be very difficult. Many are scared to move out of their comfort zones, which is a perfectly normal reaction. However, time passes as people hesitate with their decision. Statistics show that workers who launch themselves directly into the job search are more likely to get employed than those who prefer to wait for the right timing.

After taking the leap, the difficulties that one may face include fierce competition, technological disadvantage and financial liabilities. There is a very big number of highly qualified young job seekers on the market. Technology will also always be a problem for the older generation. This applies to those who are 50 now as well as those who will be 50 in twenty years. Looking for a new job is also time consuming, a period which may create a dent in years of savings. However, older job seekers retain certain advantages over their younger counterparts. Their most important plus point is experience. Even if they are changing career paths, they have acquired various skills over the years. These abilities will surely be useful. High-level skills and experience in the work environment can highlight a CV and increase the chances of getting employed.

Here are some tips that can be helpful when deciding to change career paths at 50:

1. Know what you want to do and what you can do

It’s important to be both positive and realistic when choosing to switch jobs. Taking the time to think about what one wants to do and what one can do is a crucial step.

2. Weigh the money implications

While money should not be the main goal when changing careers, it should still be on the list of things to consider. After all, a certain amount of income will be necessary to pay bills and afford some luxuries.

3. Upgrade your skills

One is never too old to learn. Mastering new skills to meet the requirements of the current job market should not be a setback. The job seeker should also be ready to learn and adapt to a whole new job from scratch.

4. Seek help and support

As mentioned above, changing career paths at 50 is not easy. Therefore, seeking the support of family and friends as well as professional advice will surely be helpful.

 

All in all, ending a job adventure to begin another one can be challenging. However, wasting away precious time at a job that one hates is not a wise decision. Change should therefore be an option so as to experience what life has to offer to the fullest.

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How to build an eco-friendly business

Going green is not just a thoughtful decision to take with regards to the environment. It also enhances the way customers perceive a company. For instance, for the same service, a client might choose one firm over the other just because it is eco-friendly. Firms can thus impress consumers and potential collaborators by opting to protect the environment.

There is no need to make drastic changes. A company can start shifting to eco-friendly means through some simple steps. Building a green business from scratch also involves the same ideas: rejecting practices that harm the environment to adopt those that support it.

Firstly, these are the materials that an environmentally friendly company should avoid using:

  1. Plastics that are made from polyethylene
  2. Multilayered packaging
  3. Styrofoam
  4. Polystyrene
  5. Fossil fuel energy
  6. Materials that cannot be recycled

A firm wishing to go green can use the following instead:

  1. Plant-based plastics
  2. Biodegradable plastics
  3. Alternative energy sources
  4. Recycled materials and products
  5. Recycled moulded packaging
  6. Post-consumer recycled polyethylene bags that are made from recycled waste

Just by changing the products that the firm uses, it is already positively enhancing its ecological footprint. In this sense, going green starts by producing less waste and favouring natural, recyclable energy.

This is only the beginning though, as many other measures can be taken to make a company eco-friendly. The list below shows certain steps than a firm can follow to drive its environmentally sustainable growth:

1. Invest in nature

Planting trees outside the office not only contributes to the protection of the environment, but also beautifies a building’s exterior aspect. Inside the building, plants can be used to purify the air. Scatter potted plants throughout the office, both in the lounge and next to employees. This will brighten up the atmosphere, make clients and new recruits more at ease and increase productivity to some extent.

2. Save energy

Switching off the lights when they are not in use decreases the amount of energy waste that a company produces. The enterprise can also opt for energy-efficient lighting instead of incandescent bulbs. At the same time, it can choose to replace old equipment and machinery with new, eco-friendly items. Adopting this practice also helps to save money on the electricity bills, resulting in an additional fund. This extra money can be used to better the company or to further finance the firm’s green venture.

3. Opt for electronic data management

Getting rid of unnecessary paperwork can significantly reduce a firm’s negative impact on the environment. Computerise as much data as possible. This is not only eco-friendly, but also saves money as there is no need to buy as much paper anymore. Recycling used paper which is no longer needed is another green practice.

4. Reduce oil consumption

A company will truly be environmentally friendly when its employees also adopt this value. For instance, carpooling is a good way to save oil and money. Public transportation and telecommuting are additional options that can be considered.

 

This is only a beginning. Many other measures can be adopted to build an environmentally sustainable business. It is never too late for a firm to decide to go green. The first step can be small, but its impact will undoubtedly be impressive.

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Launch your start-up in Mauritius

When you think about launching your start-up in Mauritius, various questions and doubts arise. Will you get funding? Does Mauritius have a market for your business? Will your start-up be able to grow within the island? However, despite its shortcomings, Mauritius may be just the right place to launch a start-up.

Helpful development schemes

Mauritius offers several development programs to help entrepreneurs in their venture. Schemes such as the SME Partnership Fund, the Mauritius Business Growth Scheme and the AFD Green Lending Scheme are available to business launchers. They can assist in both the opening and the growth of a start-up. Another way through which entrepreneurs can get support is incubators. These organisations specialise in the nurturing of a business. This includes, but is not limited to training, funding, legal assistance and the provision of office space.

The Mauritian market and growth opportunities

As a developing country, Mauritius is hungry for and open to new ideas. Innovation is fuelling the booming technological sector and creativity is being sought out everywhere. Now would therefore be the best time to introduce your idea and to try it in a start-up. Many young entrepreneurs have tested the waters, tasting sweet success. Some of them are Blast Burson-Marsteller, Focus Events, Sweat and Laugh, amongst others. As the country continues to develop, it will rise in terms of economy and innovation, providing further growth opportunities to Mauritian businesses.

Beginner friendly environment

Aspiring entrepreneurs who want to launch their first business will find Mauritius to be right up their alley. If you are Mauritian, you can count on your familiarity with the country and its citizens for a pretty smooth start. Mauritians who open their business on the island already have an idea about what their market will welcome or reject. They also benefit from the support of their family and friends, which is an invaluable asset. Before becoming a fully-fledged enterprise, start-ups often have to go through trial-and-error phases. While some aspects of a new business may pass with flying colours, others may fail. Dealing with failures is hard for anyone, even more so when in an unfamiliar place surrounded by unfamiliar people. As such, it is always a good idea to start in a familiar environment.

Foreigner friendly too

Favourable conditions also welcome foreigners who wish to launch a start-up in Mauritius. With the country’s low-tax jurisdiction and investor-friendly environment, the process to open a business on the island is quite smooth. Foreign entrepreneurs can also benefit from the support provided by the schemes and organisations mentioned above. Since Mauritius is a small country, it can also be a perfect test location for a start-up. Trying out an idea can be risky depending on the scale at which the test is carried out. Therefore, reducing the impact of the success/failure by testing in a small area can be beneficial to new businesses.

While Mauritius is small, it is a fertile hub for entrepreneurs. Its current status as a developing country prompts further growth, offering the right environment for the launch of start-ups. Whether you are enthusiastic or hesitant about opening your business, the advantages and opportunities that the island provides will undoubtedly be beneficial to your venture. So, ready to take the first step?

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