If you are an entrepreneur looking for a country to start your business, Costa Rica has always stood out as one of the most convenient countries to venture to business.Costa Rican Industry
Starting a business or a company is not easy. Logistics, money and some other factors are necessary. One of those factors is the country. When it comes to choosing the country, it is a must to assess it in-depth and thoroughly. And there are strong reasons to be careful in this step, let’s see why:
- Setting up a business in a country which is in a warfare conflict is not beneficial at all. Nobody would take the risk to resort to an enterprise that can be physically destroyed at any moment. It’s no way safe, especially if the partner firm is conferring confident information to the firm based in the country in question.
CEOs try to protect their information as much as they can.
- Starting a business in a country under a dictatorship is also another bad decision. Dictatorial governments usually place too many restrictions on foreign companies, mainly if they manage foreign currency like the dollar, which is like gold for them. Also, this reason doesn’t only apply for dictatorial regimes but extremely severe socialist and communist governments which expropriate enterprises if they don’t follow their incoherent rules.
- Setting up a business where English education is not important for the government is another mistake. English is part of the globalization and not speaking English today is considered as something insane as all the countries are interconnected through a language, English. All the transactions and good businesses are initiated and finalized in this language. The majority of inhabitants of an important exporter country should know English due to the constant contact with America, China (they do business in English) and Europe.
- Planning on a business where the educational system is weak should be immediately discarded. One of the factors that make a company succeed in the goals is the quality of the human resource. A country with a weak and low-quality educational system can’t provide any business with well-prepared candidates. If this happens, then the company will struggle to find the right team. This fact can lead any startup or specialized company to the brink of bankruptcy owing to the poor production caused by an incompetent workforce.
So, Why Costa Rica
Most startups will be willing to be as geographically close as possible to the United States. As well-known, the North American country is a great ally and partner of Costa Rica and that has been a constant for years. The location will permit those small young businesses to establish the first contact with American and Canadian firms in order to boost production and stay steady in the industry.
Costa Rica has agreements with the United States that favor English teaching in the country. The United States finds open doors in Costa Rica to build facilities for teaching English as a second language to kids, teens, and adults. This greatly benefits all the Costa Rican companies in general because the demand of bilingual people is increasing non-stop.
Costa Rica is democratic
Costa Rica as a democratic republic guarantees all the rights of the foreign companies and investors. They will not face any unfair expropriation or abuse by the government like in some socio-communist countries.
Easy access to the US and vice-versa
The geographic location helps a lot when it comes to exporting and importing technological service and products. On this occasion, Costa Rica is strategically well-located to export to two developed countries, the United States and Canada. Besides, the country is between two oceans, which allow receiving imported products from Asia through the Pacific Ocean as well.
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