First Person: Starting and Running a Business in Spain

Perhaps you are looking to set up a business in Spain or perhaps you have just started a new venture and are looking for a bit of guidance. Running a business in any country can be challenging and stressful at the best of times.

Below are a few tips and bits of advice which I hope will help you start a business in Spain.

Make a business plan. In this plan cover everything, from what your business will be, down to who your target market and audience is. Even if you are not seeking business finance, a business plan is still an important document as it allows you to keep track of your core business.

Find out what rules, formalities and regulations you need to follow. Find out what taxes and rates have to be paid, when and who too. Find out what the procedure is for new businesses.

Speak to a local business adviser or lawyer. This will help you find out what licenses, visas or permits you need to have in place to start and run your own business in Spain.

Find out who your target market is. Where do they live, what do they want from you, how much disposable income do they have, and most importantly how do they want to be reached, e.g do they online respond well to web banners or perhaps radio adverts.

Take advantage of local chambers of commerce and local councils. These are here to help you, and some can even help you find out about business grants and business licenses.

Research how business is done in Spain. Speak to local professionals, businesses and advisors to get a feel for how to run your business professionally from the outset.

Decide where you to base your business. Will you need to run the business from an office or warehouse or could it be run from your home.

Work out how you will be financing you new business venture in Spain. Will you require a business bank loan, will you be getting funding from private individuals or will you be funding your business yourself? Work out what options are available and most attractive to you.

Decide how you will market, promote and advertise your new business. Create a marketing plan that will cover how, where, when and with what medium you will reach your target markets.

More from this contributor:
How to start a business on a shoestring budget
A guide to exporting
How to establish a presence overseas