Are you coming to Bali to find yourself, to move forward or get out of your comfort zone? You might have heard thousands of stories of successful entrepreneurs who consider this Indonesian island as the key to their favourable results as their businesses started to shine brightly right there.
However, what you might not have heard are the stories of wrongly set expectations and desperate entrepreneurs who left the island without any profit.
In this article, we will go through the major stereotypes about Bali and help you to settle the right expectations. Get on the right track to start your business in Bali, or move your current one to the higher level, from the first day of your Balinese adventure.
1. BALI’S LIFESTYLE HELPS TO MOVE FORWARD
Indeed, Bali is a magical place with a positive business atmosphere and unlimited opportunities. Nothing there looks impossible, but aren’t you just seeing the world through a rose-coloured glasses?
To move forward, you need to have the actual knowledge of processes and Balinese reality — never-ending traffic congestion, internet speed and ownership restrictions for foreigners are just some of the aspects of the life in Bali you should consider when moving to Bali.
2. THINKING OUTSIDE YOUR COUNTRY
Plenty of foreigners expect that moving to Bali will help them to think outside of the box. Even though it is logical — new ideas come naturally in the new environment — it would be naive to expect thousands of thoughts running through your head immediately after you land at the Ngurah Rai airport in Bali.
Bali has been heavily ‘westernised’, and you might not really feel the difference between your country and the Island of Gods. Taking into consideration millions of foreigners coming to Bali every year, you can even bump into your fellow citizens everywhere around Denpasar, especially if your home countries are Australia or the Czech Republic.
To get into the right ‘outside the box’ mindset, you need to invest your time into preparation. Introverts should look for lonely places and natural beauties out of touristy traps while extroverts can attend some of the hundreds business events and seminars that are organised in Bali.
Also, anybody can find the perfect setting at workspaces located in Bali, either you can go for co-working and build a network of entrepreneurs, or you can enjoy undisturbed working at private offices. Check the differences here.
3. LIVING IN BALI IS A PIECE OF CAKE
Not always. This popular misconception has already let to several deportations, blacklisted foreigners and hundreds of fines. Visa applications, extensions and bureaucracy became a nightmare for those who have to deal with local immigration. And the government checks are much stricter than before.
As a rule of thumb, do not overstay your visa in Bali, bribe officials or do not try one-day visa-runs to Kuala Lumpur or Singapore.
Note dates when your visa is getting expired, remember the number of its legal extensions and avoid staying on a tourist visa. In case, you get into visa troubles, consult a visa agent in Bali and get the best solution.
As prevention, a multiple-entry business visa or social-cultural visa are the best options for foreigners who are coming to Bali. Business visa holders can stay up to 60 days, and social-cultural visa allows 60 days plus 4 extensions (each for an additional 30 days).
4. BALI IS A PARADISE FOR SMALL AND MEDIUM BUSINESSES
New and new businesses pop up in Bali every year, and around 50 per cent bankrupts within few months. In fact, there are so many people dreaming of living in Bali that the supply of services surpluses the demand enormously especially during low-tourist seasons.
If you really want to try your luck and come to Bali to start a business there, know the requirements first. You might not be aware of restrictions and that some sectors are partially or fully closed to foreigners, that an initial paid-up capital can be required or that not every company can hire foreigners.
Secondly, profound market research is the key to your future success. Do not underestimate its importance; there have been many who did so. The hospitality industry, tourism agency or English classes might look like the easiest options to build a business, but those are also the ones with the strongest competition.
Do not be discouraged by our presentation of the Balinese reality. Even though Bali is a business paradise and plenty of foreigners head there for business purposes, beware of the common misconception and stereotypes about Bali.
The best way how to succeed in the Balinese market is to understand its threads and weaknesses and consult professionals with an in-depth knowledge of the market. Cekindo is here for you.