Argentina has become one of the best countries in Latin America to invest in and develop startups. Even though it used to have an unstable economy, the new government is focused on changing the financial issues in order to attract more investments.
The Global Entrepreneurship Monitor (GEM) describes in a report that Argentina’s activity is dynamic and has a vibrant entrepreneurial ecosystem formed by high potential entrepreneurs.
The independent business sector has considerably grown in the past few years. Even a Thomson Reuters report has considered Argentina as one of the best places in Latin America to invest in startups, along with Chile and Colombia.
But, what exactly do you need to begin a successful business in Argentina?
Time to get into business in Argentina
There are a few points that every investor should take into account before beginning a business in this Latin American country.
First of all, you have to define a business plan. This means you have to learn how to set the targets and goals of your startup.
Who’s going to be your client? Who’s your competition? What will be your product’s role on society? Does it need a twist? These are some of the questions that the entrepreneur will have to define.
Once the business strategy is set, the entrepreneur has to analyze the cash flow and how to keep the costs low.
Argentina has a favourable context to keep costs low.
Traditional offices vs coworking spaces
Traditional offices may seem a good option for foreign entrepreneurs, but once you start analyzing the costs you’ll realize they are not a good option at all.
The first obstacle is the need of a guarantor to rent a space. It’s hard for Argentineans to get one, it’s even worse for foreigners.
There’s another point that hinders the entrepreneur’s project: The contract of a traditional office is for at least 2 years. But, what if your business grows and the office turns out smaller than you thought? Then the entrepreneur will have to pay an additional cost for leaving the office before time. And that wasn’t planned in your budget, right?
Last but not least, the entrepreneur will have to cover the costs of electricity, water and gas bills. This point is quite important, because the prices are currently on the rise.
So, traditional offices in Argentina aren’t as cheap as in other places in the world. But there is a really affordable alternative: coworking spaces.
The unconventional offices are definitely the solution for the foreign entrepreneurs. You may think these are Google style or hipster-like places, but there’s always place for business men.
Take for instance Teamworks. This coworking space is strategically located at Catalinas Area, the heart of Buenos Aires’ financial and business district.
It offers its coworkers a place to work and network, without any additional costs.
By turning to coworking spaces, the entrepreneur will have a more successful, affordable and productive place to develop his project. Hence, a great beginning at the Argentina experience.