The world is a revolutionary platform for technologies and industries springing up everywhere, and with it businesses too evolve as well as entrepreneurship. The post-crisis recovery in entrepreneurship growth is showing favourable signs the world over. With markets changing, if you were to start doing trade and business in Mauritius, knowing a few stepping-stones would definitely allow you for an easier means of entry to the Mauritian market.
Understanding the Market in Mauritius
First things first, you should be able to recognise the type of economy in Mauritius and the industries that makes this island grow. The fact of the matter is that the island of Mauritius has no natural resources but it has been able to sustain its economy by diversifying and using its other assets to leverage itself against the global economy and markets. It has emerged from a low-income country with single crop agriculture to what it is now.
With putting focus on innovation as well as focusing on services that can be utilised with multi-nationals in service sectors such as ICT, logistics, education, tourisms, agri-business and more, doing business in Mauritius has become easier. The island of Mauritius is also on its way to becoming a business hub and important link between Africa and Asia.
You should be well versed in the market trends and statistics, thus creating a proper business plan will always be a beneficial step when entering any market, and will prove to be advantageous to doing business in Mauritius (or any other country). Also being aware of the barriers of entry, export issues, regulations and more is also good for business too.
Making Connections in Mauritius
When doing business in Mauritius (or anywhere for that matter), knowing how to do go about getting things done is always considered having an edge. Whilst it’s important to have your connections with regards to imports/exports, distributions and logistics, also have a facilitator or consultant who is able to show you the ropes is always a good business strategy.
Being Efficient and Getting Feedback
If you are entering a market that is already established and is saturated, one way of being a frontrunner is to ensure that you maintain efficiencies across board and one way of maintaining your service levels are top notch is by receiving feedback and continuously making amends to improve your business processed. This way of doing business in Mauritius will allow you to be competitive.
Promoting your Business in Mauritius
Whilst you are able to promote your business in Mauritius using conventional marketing strategies such as with Above-the-Line or Below-the-Line, do not forget to also utilise Though-the-Line strategies too. These include the likes of 360 marketing (integration of ATL and BTL) and digital marketing too.