In the previous post, we have tell the tips for starting a small business in Indonesia for the locals. Now we are on to the last part of this series, tips for foreigners who want to begin their venture in Indonesia.
Understand the regulations
Having a legal venture is important for both Indonesians and foreigners who are interested in conducting a serious business. And it can be slightly trickier for non-Indonesian citizens. For foreigners, it may therefore be easier if you can get an assistance from a local partner or through a consultation with a local advocate who can guide and help you initiate a legitimate business in Indonesia.
Share your culture
Generally, Indonesians are always curious to new things they never experienced before, and that could be new cultures coming from various countries around the world. To get a good grasp of the market before starting up you new venture, you may consider to conduct a market survey that could you explore the of products that can be best introduced to potential customers in Indonesia.
Another option is to target the expat market, which may consist of people originating from the same country as yourself. One example is a restaurant that serve the delicacies of your country of origin, where people from the country can also gather and interact to talk about home while they are in Indonesia.
If your business requires a physical presence, determining location is very crucial. Keep in mind that in Indonesia, every territory is different. The easiest locations are in the bigger cities such as Jakarta, Bandung, Surabaya, and Makassar where diversity is a common phenomenon and the residents are already accustomed to it. Therefore, shall there be the need to introduce new ideas that are not originated from the locality, it is wise to pay more attention to more details such as how the locals will react to these new ideas. This also include performing a through strength, weakness, opportunity and threat (SWOT) analysis so that you can narrow down the possibility of a business failure.
All in all, no matter your nationality is or what kind of business you want to establish in Indonesia, be prepared and calculate everything in detail. Be persistent so you can achieve your goals. Good luck!
Source: Global Indonesian Voices