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Question added to topic Starting a BusinessJune 2, 2008

What business ideas would you suggest for a small town in a developing country?

The town is in Cambodia and is very popular with tourists. It is very hot most of the year, and there is a rainy season. The town is developing rapidly, and I'm looking for a good business to take maximum advantage now.
Wow, there are so many you can begin.

The best bet is to look at three things to make the decision:

1. What are your skills, the things you are good at?
2. What do you enjoy; what are you passionate about?
3. What is the market demanding right now ?

My preference is usually for a service business, as the startup costs are lower and the margins higher. As you mention, tourism is a great entry-style business. So, too, are computer consulting, real estate and so on.

Hope this helps.  Brad Sugars

Brad Sugars is the founder and chairman of ActionCOACH. As an entrepreneur, author and business coach, he has owned and operated more than two dozen companies including his main company, ActionCOACH, which has more than 1,000 offices in 34 countries.

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