Cost Of Starting A Business In Panama

0

“Kathleen, I read two of your articles about entrepreneurship in Panama. You are making me really more curious about it. I’ve some questions for you.

“First, how much money do we need as a couple to survive first months before the business starts to bring in some money? We’ll probably have a lot of installation expenses and also for monthly fees.

“Second, do you think that Panama is a good country to start an IT business?

“Thank you very much.”

–Robert M., United States

Impossible to say how much money you’d need before your business started throwing off cash. When we started our Live and Invest Overseas business in Panama, we had enough cash on hand to cover one year of operating expenses. Our projections had us generating enough revenue by the start of year two to keep the business funded. We wanted to have enough cash set aside in advance to cover us to that point.

Your projections could be very different, depending on the type of business you want to start, your sales expectations, associated operating costs, etc. I’d say a good rule of thumb, though, if it’s possible, would be to set aside in advance whatever you think you’re going to need to fund the business and to cover your own living expenses for one full year.

Panama is definitely a good place for an IT business. Look at the incentives for setting up in Panama Pacifico or the City of Knowledge.

Continue Reading: Living And Investing In Property In Las Terrenas, Dominican Republic

Comments

comments

Make a Profit And Have The Adventure Of A Lifetime
Share.

About Author

Live And Invest Overseas

Live and Invest Overseas is the world's savviest source for top opportunities to live better, retire in style, invest for profit, do business, and own real estate overseas. Established in 2008, the Live and Invest Overseas' editors and correspondents have more experience researching and reporting on top opportunities for living well, investing for profit, doing business, and owning real estate around the world than anyone else you'll find.