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Cayman Islands and doing business

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Opening an enterprise in any country or state is not an easy task. There are multitudes of decisions to make, including where your business will be located an how large you envision your business to be. For instance small business goals are relatively easier to meet than large enterprise goals; this applies to both highly populated areas such as the Argentine Republic and sparsely populated areas such as the Cayman Islands.

One of the first factors to consider when opening a business is what kind of business you will be opening. Will this be a business that caters all different kinds of clients or more of an all-inclusive crowd such as a private crowd? Depending on your business your strategy in both gaining customers and entertaining customers will be drastically different. For instance catering to a broad audience may give you enough leverage to sell common items widely sold by other vendors. A business that caters to an exclusive crowd is more likely to offer products that are in limited supply, in which they can charge a premium for the offer.

Ken Dart

Also remember that it’s jut not what kind of business you run but also where it’s run. Location is a major factor with many dependencies. For instance if you were to open a deli, foot traffic could help greatly in helping your business build a customer base. This is why you see many delis and other restaurants located in close proximity to hotels, resorts, and other major vacation areas. While a deli with no brand power or customers may need to spend the money for prime real estate, a well-established business is likely to get customers no matter where they open or even if there is bad weather outside.
 

Posted Dec 04, 2012 at 11:11am

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