Expand your business
Expand your business location or activities
When you are ready to expand, make sure to update your marketing strategy and double-check that your company is ready. Then ensure that the new location complies with all applicable laws, rules and regulations.
Prepare for a new market
First and foremost, plan your marketing strategy based on your new location. Consider your new target, your sales strategy and your competitive advantage. Include any additional marketing and sales expenses. Check to see if your updated marketing plan is still as complete as your original plan.
Compare your company to its competitors, learn from the local market and look for new marketing ideas.
Afterward, review your company’s finances again. Create a forecast of your new location’s estimated expenses and revenues. Examine your balance sheet to ensure that the costs of expansion are covered. You can request additional funds if your current capital is insufficient.
Expand your business activities
If you want to expand your business activities, you should consider the following factors:
- Changes are possible if the activity is mentioned in the articles of incorporation; otherwise, the civil-law notary must make the necessary amendments to the articles of incorporation.
- Consider whether or not combining your business activities is feasible; visit www.deaci.aw;
- The activity must be possible in the area where your business is located; Link ROPV.
- You must apply to the Department of Economic Affairs, Commerce and Industry to change your activities. Changing activities costs AWG 25.00.
for more information.
Exporting to new markets is another way to expand your business and it can help your business grow and become more competitive.
Exporting offers new opportunities:
- achieving a higher production capacity;
- increasing your revenue;
- finding a solution to the local market’s growing competition;
- spreading the risks over different markets;
- expanding your knowledge and capacity;
- expanding your supply chain opportunity;
- finding more business strategies and ideas (that are not yours);
- acquiring more know-how on how to improve the quality of your product or service.
Businesses must consider their export capacity, the exportability of their products and services and have an export plan in order to export. Aruba’s Government is committed to making exportation an important part of the island’s economy. Exprodesk was created as a unit within the Department of Economic Affairs, Commerce and Industry to address this issue.
Exprodesk provides information, capacity and contacts to their clients (networking).
Another organization, Free Zone Aruba N.V., collaborates with various government departments and other organizations to provide export services.