Cyprus-Forum.com

[purdey]

So many stories of failed business attempts by Brits in Cyprus. Brits finding life difficult on low salaries and returning home.
Are doors now closing to new British investors, are they looking elsewhere or just flat broke ?

[Z4]

Good question

[RichardB]

So many stories of failed business attempts by Brits in Cyprus. Brits finding life difficult on low salaries and returning home.
Are doors now closing to new British investors, are they looking elsewhere or just flat broke ?

Hope its flat broke- Just had the first offer for my business here in UK

[Sotos]

I will tell you what the problem is Fact 1: In the UK Salaries are higher. So why do people come to Cyprus to work as employees? Fact 2: Most Brits that come here don't even speak the language of the majority. They don't know the Cyprus market. They don't know the Cypriot way of thinking. They don't know what needs and what opportunities exist. They know all these things much better for the UK. So why do they want to start a business in Cyprus instead of the UK? The answer to all questions is that the business is not their priority! They first think of the sun, the beach and the good life, and the business comes much later. The majority of all business fail. But if a business is made in such way then it will almost always fail. There are many serious successful companies in Cyprus and many foreign companies like offshore ones. Those companies came to Cyprus for economic reasons and the business is their priority. They didn't come to Cyprus for the sun and the beach!

[RichardB]

I will tell you what the problem is Fact 1: In the UK Salaries are higher. So why do people come to Cyprus to work as employees? Fact 2: Most Brits that come here don't even speak the language of the majority. They don't know the Cyprus market. They don't know the Cypriot way of thinking. They don't know what needs and what opportunities exist. They know all these things much better for the UK. So why do they want to start a business in Cyprus instead of the UK? The answer to all questions is that the business is not their priority! They first think of the sun, the beach and the good life, and the business comes much later. The majority of all business fail. But if a business is made in such way then it will almost always fail. There are many serious successful companies in Cyprus and many foreign companies like offshore ones. Those companies came to Cyprus for economic reasons and the business is their priority. They didn't come to Cyprus for the sun and the beach!

Sotos what an excellent response
I agree with all of your post
So many Brits only have a holiday head on when they decide to move over

[Sophia1]

It is a very good point Soto, and also not forgetting Xenophobia and Jealousy.. If your business may work, some freak may bomb it I know sick but your better off staying in the uk...

[mike Bitts]

I think for a lot of people running a business in the UK, it has become hard work with all the high taxes that have got to be paid and you can not sack some one for not doing their job, if you do you find yourself in court and paying a large some of money to the person you sacked, and people are fed up with this so the chance to start fresh looks very good so they have a go but some win and some loss but if you don’t then you ask your self if only

[Z4]

I will tell you what the problem is Fact 1: In the UK Salaries are higher. So why do people come to Cyprus to work as employees? Fact 2: Most Brits that come here don't even speak the language of the majority. They don't know the Cyprus market. They don't know the Cypriot way of thinking. They don't know what needs and what opportunities exist. They know all these things much better for the UK. So why do they want to start a business in Cyprus instead of the UK? The answer to all questions is that the business is not their priority! They first think of the sun, the beach and the good life, and the business comes much later. The majority of all business fail. But if a business is made in such way then it will almost always fail. There are many serious successful companies in Cyprus and many foreign companies like offshore ones. Those companies came to Cyprus for economic reasons and the business is their priority. They didn't come to Cyprus for the sun and the beach!

Good response Sotos - I think you are nearly right here.

My question the 'businesses' we are referring to here are the majority run by 'older' people which are close to retirement and who only require pocket money or are they run by 'younger' people who are starting out and who need an income?

For older people who move over to run a business they are in semi retirement mode and yes you are right there minds are on the beach and sun.

For younger people the reason for failure is different.

[purdey]

From what I can gather the younger business people are the one's that are failing. The older one's (not many left) tend to be a bit more business savvy and have tried to fit into Cypriot business practices and have learnt the language.

[Z4]

From what I can gather the younger business people are the one's that are failing. The older one's (not many left) tend to be a bit more business savvy and have tried to fit into Cypriot business practices and have learnt the language.

Can any locals back this up?