What will be your business’ purpose?

As you begin to think about starting a business overseas, you must consider the purpose of your business. After talking with businessmen living abroad, we realize there are several different motivations to start a business. As you read the list below, consider what you would like from your business, take some time to think about what your motivation(s) for starting a business, and compare your thoughts with the motivations that others have shared.

To Make money

Most businesses are established from the point of view of generating profit. Business owners desire to make enough money to support themselves and others who are dependent on the business.

To Provide Jobs

Job creation is another reason why people desire to start their own business. Unemployment is very high in many third-world countries, so business that create job opportunities are welcomed by the local authorities.

To Establish Residency

In many countries around the world, individuals must apply for visas / residence permits to reside. Owners of business can apply for business visas to establish long term residency in a country.

For Appearance

Some people may not really care that their business is financially viable, however, they mainly care that the local community sees them as businessmen.

To Create Relationships

For those looking to develop relationships within the community, they may want to start a business that naturally thrusts them into relationships.

For Love of a career

Some people are passionate about a certain career like medicine, education, or web design. As you begin your new business, you may want to leverage your passion to create a business that you love and are knowledgeable in.

Defining your purpose will help you to choose an appropriate business that will match your needs and expectations.

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