Looking to start a business in santa marta colombia

Hello Mikel, welcome to Expat.com

Hope that some members who have been there will be able to give you some info soon.

Regards
Kenjee
Expat.com Team

I am living in Santa Marta for more than one year. Tell me what do you want to know.

Regards

Didier

Good morning Didier,
  Well I have been looking into what kind of businesses that will be most profitable in Santa Marta would like to bring something that will be in great demand there or some concepts there from the US. I want to bring the people something they can use for a long time or continuously coming back to...  the research that I have done so far is just reading about the basic start up and registering for a business also reading up on the labor laws of owning a business in Colombia. So from the time that you have been in Santa Marta what do you see the people might need there?? I have been there several times vacation and fell in love with it and will love to to purchase property there and also open up a business.. Please if you can give me some of your insight of they way you view santa Marta and it's growth potential..  thanks

Hello !

The most important activity here is tourism although they try to develop other activities. Also, they often need English teachers. To buy real estate is a good thing if you don't need a loan because the loan rates are around 14 % and they don't lend more than 70 % of the price. What are your abilities ?

Have a good day.

Didier

funny that you mention real estate I have looked into that and it's one of my things that I could consider possibly focusing on as a form of business it can be stable if you have people wanting to continuously wanting to rent but at the same time putting up with that much capitol would slow me down to generate fast or moderate financial growth or possibility taking a loan will be a questionable route to take with the interests rates as high as there are but something to think about.. I would like to attack the  tourism since I don't really see that much for them and I have some ideas that I can bring to Santa Marta that could generate employment for the people there and stable income for me as well but I have to do more research,  I have thought about opening up a women clothing store in a central commercial or possibility a place like chucky cheese or a jumping world for kids and adults.. there are many ideas that I have that I can pursue just need to do my homework or talk to people and get there thoughts on what they think and make more trips there which I will be doing and weighing the pro's and con's and get a better feel for what the people might need and want.. I even thought about doing something on the beach for tourist and there kids... So there are many avenues I can go but which one will be the most beneficial for me that will help me create further business there..


Mikel

In Santa Marta, the real estate prices are very low and I think they will increase very fast. There is a lot of competition in tourism area. If Colombia can make peace with the FARCS, the economy will grow very fast. The government will dedicate a lot to the building area as the main economic sector.

Mikel,   Since you are from the States you know that people wanting to open a business have a VISION..  Aren't afraid to try new things, new products, new ideas..   In Colombia you will find that pretty much business is a clone of another business on the same block or on the same street..   In the States,  the consumers like the competition to keep the prices down..  In Colombia,  people will open a business next door or across the street from an existing business that is doing good..  Strangely it's a copy of the already existing business..  They don"t get it here in Colombia that being the business owner you are basically shooting yourself in the foot..  Why would I want to open next to a business that is surviving because they have no competition,  when If lucky I might get up to 50% of their business if I cut prices to the bone..  Neither one of us wins..  Colombia is a Country of copy, copy copy..     Whatever you decide to do,  BE PATIENT....  I moved here years ago and have seen things I would never have imagined..   Just take the time to investigate in person and plan accordingly..

Best of luck to you,

Glad I found this forum. I'm in the same boat. If you do want to start a business in Santa Marta, who exactly do you contact about your idea? I sent an email to the Legal Advisory Office and they responded stating they sent my request to The Secretary of Economic Development.

What do tourists-visitors-Expats want when they

are in Santa Marta?

A break from the heat.

Provide and promote van or car service with first-rate

air conditioning and a place to stay (e.g., AirBnB) with

same .. and you might be on to something.  Something

that can eventually be scaled.

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