Have you ever considered starting your own business or investing into an existing one? Perhaps you are tired from going to the same workplace from 9 to 5 (or even later), perhaps you want to spend more time with your loved ones or be able to plan your own time and have appointments in the middle of the day, without having to ask permission from your boss or you simply have some money saved up that you want to grow.
The good news is that it is never too early to late to start. Maybe you’ve already spent a few years in Slovakia and know how the country works. Or maybe you’re a newcomer with some cash saved up but still don’t know the area or where to start. Do not be afraid – there are options for everyone. Let’s look at some types of investments available and why they could be right for you.
After you read bellow and get familiar with all the types of investment available, take a look at some concrete offers in our new article
Investing in a franchise/ready business
Maybe you are not sure what you want to do on your own or don’t want to go through the stressful beginning of a start-up. Then this is the right option for you. Many businesses, wanting to grow or expand their range of services, are looking for investors who are happy to receive a part of the profits and have some or limited responsibility. Or in the case of a franchise – you take over with an established business model and don’t have to come up with your own business plan. If you have some cash saved up and don’t want to start from scratch, there are plenty of opportunities out there.
Investing in real estate/construction projects
This is a classic and probably the safest investment you can make. Property value, if chosen carefully, rarely goes down and requires minimal effort. Whether you want to buy existing property, or want to invest in a construction project, it won’t be a mistake. You can then rent it, renovate it and sell it for a higher price or wait a few years until the price rises due to demand. Slovakia, and especially Bratislava as a capital city, is growing and more and more international people come here, so prices are not likely to drop anytime soon. Renting can be a good solution to help with mortgage payments until you decide it’s time to sell.
Investing in education
This is an interesting one. However, to do it properly perhaps you should have some initial interest in education and developing young minds. Have you ever considered investing in a private kindergarten or school? State-owned kindergartens are often overcrowded, and parents need to wait to be able to enrol their children. This has resulted in a rise of private kindergartens and schools. The benefits for both parents and for you are quite a few. Children enjoy smaller groups, therefore more attention, new facilities and more educational opportunities and you, as an investor, can expect higher monthly fees and the opportunity to make a difference in these children’s futures.
Investing in a Start-Up
Many people have ideas but no money to start. So, if you have cash and are generally interested in start-ups this can be a match made in heaven. As an investor, you can ‘audition’ start-ups – meet the people, review their business plan and even, based on agreement, be as involved as you want to be. Maybe you only want to invest and receive a monthly or quarterly report, maybe you want to be more involved in the decision-making process – it is all possible. Additionally, you can agree to participate for a percentage of the business or for a period of time, until the start-up can pay you back, sort of like a loan. Many people are looking for investors to realise their dreams, so if you’re not sure yet what yours is or simply want to diversify your portfolio – this is the right path.
Starting your own business
And, of course, there is always the option to start your own business. It is not the easiest of all mentioned but, in time, it can be the most rewarding. But how to start? What do you need? Do you need facilities, do you need an accountant, or a lawyer? How to register a company? Do you have all required documents? First, you need to do the research and planning.
Many questions come along the way of starting on your own. It is natural to feel overwhelmed and lost at times. If you feel you need support, there are services that can help you hit the ground running. SlovakiaInvest is such a company, focused on providing support and services. They can help you with planning, market research, getting your residence permit if you don’t have one yet, registering your company, finding the right location, legal documents and everything else you need. If you are not feeling the start-from-0 gene, they can also assist with finding ready projects and businesses looking for investors.
No matter what you are thinking right now, do not forget it is never too late to start. You will not only find a way to support yourself, probably make more than you currently are making at your job, but also free yourself from bosses, rules and having someone else decide your future for you. You will experience the thrill of your first earnings on your own, the risk of direct reward or loss and you will see the results of your investment right in front of your eyes. And also, you will be able to give back to your local community and support the country you live in, resulting in a better state and surroundings.
Good luck, future entrepreneur!
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written by: Svetlana Gangova