News Americas, NEW YORK, NY, Thurs. Aug. 19, 2021: The idea of starting a new business will always be daunting. The inherent risks that come with such a dramatic shift in one’s life can hopefully be offset by a flourishing business as the end result. Now imagine moving that business to another country or let alone moving to another country to setup shop over there?
These days we have a lot more afforded to us thanks largely to the technological wonders of the internet, which has made it easier to work in other parts of the world. This is not to imply that the psychological barriers one faces when starting a business or moving one’s business to another country aren’t intimidating. Of all the places out there, the Caribbean holds great appeal, and not just because of the beaches or the incredibly agreeable climate. Barbados, an island country in the south-eastern Caribbean Sea offers fantastic prospect for any business owner or start-up entrepreneur thanks to a well-established framework.
Why Barbados?
Barbados appeals for a number of reasons; the country has established a legacy of stable governance. In addition, the Government of Barbados has cultivated its legislation in such a way that foreign investors can setup their businesses with relative ease. The government has a special agency, Invest Barbados, that facilitates the needs of foreign investors. Naturally it won’t hurt to have a good understanding of running a business in the UK, as the administrative aspects for both nations are similar.
Choose An Applicable Line Of Business
As it stands, there are four major sectors that can deliver maximum returns to foreigners looking to relocate to Barbados to start a business; namely international business services, manufacturing, agriculture and tourism. The main most responsible GDP contributors include government services, wholesale trade, retail trade and tourism or people looking to travel and work at the same time. As tourism is one of the key drivers of the economy, the majority of foreigners who setup a small business do so by way of travel agencies, art galleries, retail shops, clubs, cafés and bars. However, it needs to be noted that the aforementioned vocations are physical, and nowadays thanks to the constant proliferation of the online world, foreigners are not limited to these options.
Choosing An Online Vocation
Thanks to the online tools are one’s disposal these days, there’s a lot more profit to be had by way of the Internet. It’s not so much a case of out with the old and in with the new, but more a case of updating the old by way of the new. It doesn’t hurt to be knowledgeable about PCs, and let’s face it, most people are these days. One could adopt the life of a digital nomad, a vocation that’s gained incredible prominence in the last few years and something which itself encompasses a number of vocational avenues. All that’s really needed is a laptop and a sturdy internet connection and you’re good to go. Work options can be as eclectic as the physical ones mentioned earlier. For instance, one could become a freelance writer – world’s filled with websites waiting to have content added.
Alternatively, one could look to drop shipping, which means you can sell all kinds of items on a website without actually have to keep a physical inventory. Online trading is another vocation that falls within the confines of being a digital nomad. One can literally reside in Barbados while still being fully involved in share trading in the UK or on other lucrative markets such as USA and Asia as examples, as the internet facilitates a borderless world. That’s the beauty of choosing a vocation that caters to the strengths of the internet. There’s also affiliate marketing, and just like drop shipping or online trading, requires very little start-up capital while allowing one to profit from online marketing. Whether you choose to setup shop physically or in cyberspace, Barbados and the greater Caribbean has all the infrastructure and social appeal to make you want to do it there.
