Success tips when doing business in Sudan
- Your joint venture partner or Sudan shareholder must not merely be a nominee for the sake of meeting the rules of foreign company incorporation. You should choose a partner that actually brings a lot to the table, including local knowledge your business would need in Sudan;
- To optimize the success of your new Sudan business setup, Healy Consultants recommends your firm i) complete a Sudan business setup feasibility study ii) prepare a detailed Sudan business setup business plan iii) communicate with the Sudan Chamber of Commerce iv) speak to your local embassy in Sudan and v) communicate with Healy Consultants Clients who successfully launched their business in Sudan;
- Foreign companies should be aware of i) Sudan statistics and market data are usually imprecise ii) transactions tend to take longer than expected iii) more frequent and longer market visits are required, at least initially iv) complex business procedures are common;
- An essential factor in starting a business in Sudan is to thoroughly research the business sector you are planning to invest in. Healy Consultants recommends our Client prepare a detailed business plan including an extensive market study and evaluation of competitors.