MIB Global Chat: Starting a business in Colombia

Have you been thinking about starting a business in Colombia? The MIB program at EAFIT University offers different courses, for example, Innovation and International Entrepreneurship. This course provides a unique international and multicultural experience to train entrepreneurs to innovate and start a business. Likewise, the MIB helps students to recognize international entrepreneurship ventures. To know specific advantages and disadvantages, strategies, and models in entrepreneurship lead to explore, those that best suit entrepreneurs’ interests and possibilities. In this Global Chat, we speak with Conrad Egusa, the CEO of Publicize, an international business based in Medellín, Colombia.

Some questions for Conrad …

If someone in the US is deciding that they want to start a business and not just want to enjoy the beautiful weather here, what are other reasons for them to come to Colombia?

Colombians work really hard.
For clients is in the US, I would argue the time zone in Medellín is perfect, half the year is East Coast time half the year is one hour behind.
Colombia is often listed as having one of the fastest-growing economies in Latin America with huge potential in terms of economic growth. This is based on its resources, clear governance, and a unified vision by both public and private sector leaders.

2. What are the most attractive industries in which people could start a business here in Colombia?

If someone wants to start a company in Colombia, I think that the real estate sector is a great option. It would also be good to develop any type of technology.

3. If you had to invest in new businesses in these days of contingency, in what area would you go, where would you innovate in Colombia?

Real estate is incredibly promising, especially since foreign currencies are so strong. I think that on a personal level I would be much more interested in something that has to do with education, but I do not know if that would generate the greatest financial reward.

4. What would be the second option in South America after the Colombian one if you didn’t have the opportunity to be here, where would you go?

Because I don’t speak Portuguese, I probably stay away from Brazil. I would say Buenos Aires is I like Santiago as well it was nice yeah probably one of those two.

Finally …

In summary, Medellín is a great place when starting a business in Colombia. It is really something that people should consider due to the optimal environment and the positive human factor. On another note, seeking to create new jobs and companies provides a sense of purpose, so basically summing it up in three words would be impact and human touch.