Tips For Entrepreneurship in Panama

Buddha said it well “we are what we think, all that we are arises with our thoughts. With this we create the world ”.

Entrepreneurs are needed in the new normal.

That said, it is important not to let the situations that we face in our day to day define our destinies. We are our own owners, responsible for the course of our ship and that it reaches a good port.

In times of crisis, new entrepreneurial opportunities always arise, businesses reinvent themselves and it is essential to move with the speed of the world. Currently, entrepreneurial projects based on products and services with a digital structure of customer acquisition are experiencing commercial growth due to the change in the consumer pattern when making a purchase decision. Now more than ever, having a digital presence is essential. If you're not on Google, you don't exist!

Another point to keep in mind is that the consumer looks for the best price in times of uncertainty; at this time, the ideal is to start businesses that can compete in price and quality with other brands. Due to its structures and processes, in times of crisis for large companies it is more difficult to adapt to rapid market changes and it is an opportunity for small companies to position themselves.

Elements to consider

• Public Limited Company: the public limited company is an ideal legal body to undertake, where several partners pool their financial and intellectual capital to develop a business idea.

• Sanitary registration: it is the authorization exercised by the Ministry of Health of Panama for products that are manufactured, imported, packaged or marketed in Panama. This guarantees that good practices were used in its manufacture and that it is suitable for human consumption.

• Trademark registration: a trademark is any visible sign that distinguishes products or services that are protected under a commercial signal and that allows the exclusive use of said commercial signal.

• Register of the Special Health and Hygiene Committee: in the new normality, companies that serve the general public must have a health and safety committee.

In 2019, e-commerce had a turnover of more than three thousand billion dollars and represented 12.8% of total retail sales in the world.

Tell me your questions about it and I will gladly help you.

Until next time!

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