On November 10, Managing Partner Allen Sloan spoke at the Morison KSi International and Asia Pacific Conference in Bangkok, Thailand on the Cuban economy and how Sloan Group is helping clients who want to take advantage of new business opportunities in Cuba.
Sloan shared insights about doing business in the new Cuba, including opportunities that exist in the bio-pharma and nutraceuticals industries, as well as the tourism, film and medical tourism industries. “Once Cuba introduced foreign investment rules that promise a secure climate for international investors and the U.S. restored diplomatic relations, the opportunities for business investment in Cuba grew significantly,” says Sloan. “But just because opportunities exist doesn’t mean there aren’t significant challenges to doing business in Cuba.”
Sloan discussed how Sloan Partners is helping its clients navigate through the complicated and sometimes antiquated Cuban bureaucracy. “I have seen countless numbers of overzealous entrepreneurs jump into the Cuban economy with visions of grandeur only to get burned,” said Sloan. Why? Because they don’t understand Cuba. “To do business in Cuba, you must appreciate the fact that although Cubans are a market of 11 million people, they have very low salaries and little buying power. And, because everything is government-run, there are many layers of bureaucracy in trying to get a deal done. But if you are willing to do the work and invest the time, then you can be successful in Cuba,” he told the crowd.
Sloan Partners helps identify opportunities, assists with necessary documentation, and even attends meetings with government officials on behalf of clients interested in doing business in Cuba. Contact Allen Sloan about opportunities for your business.