Business in Slovakia develops in various directions every year. In 2021, the trend is an online business without contact with the client. Like other countries, Slovakia was marked by the corona crisis and endangered several entrepreneurs, but this does not mean that Slovakia still does not offer many engaging opportunities for its own business.
In this year 2021, areas such as fast-moving food and non-food goods and related ranges are on the rise. And likewise, entrepreneurs who want to specialize in logistics, delivery, or supply have their doors open.
If you already decide to make business in Slovakia, you have to choose whether to start a trade or l.t.d., because otherwise you, are committing a crime. The main differences between setting up a deal and l.t.d., are that setting up a trade is cheaper and much easier, and you do not have to pay social security contributions for the first year. The minimum monthly amount of improvement for 2021 is 76.44 euros for health insurance and 180.99 euros for social insurance. Regarding the establishment of l.t.d. you can read more information in the previous article: L.T.D.
As a first and foremost point, you should develop a business plan, and this should include in particular:
• Market analysis, notably you should focus on the development of the market, which you are going to enter.
• Competitive analysis, because business is a never-ending struggle for customers, and therefore knowing your competition, its strengths and weaknesses can be crucial for you.
• Target group, it is meaningful that you know not only your competitor but also your customer.
• Marketing and promotion, quality and skillful marketing do not have to be expensive at all, and at the same time, they can turn a small unknown company into a company that everyone would know about it.
• Capital, many people think of capital as financial capital, but in business, capital also includes contacts, time, skills and knowledge.
If you have come to the successful development of a business plan, then you are just a step away from a successful business.
We know that developing a successful business plan costs a lot of effort, along with the overall start-up of a business. Whichever is why we are at your disposal as a company with many years of experience. We can prepare a tailor-made business plan for you, and we will also provide all the processing processes needed to start a business in Slovakia. We look forward to working with you.