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Your best business development ideas in Norway

Hi everyone,

As a foreign entrepreneur, launching a business in Norway is a fantastic project and an exciting challenge. Some ideas are likely to succeed. Some others are promising but may not work as well as intended.

In your opinion, what kind of business or industry is likely to succeed in Norway? What kind of industry or service currently unavailable or underdeveloped in the country would meet local needs?

On the other hand, what are the most common business types foreign entrepreneurs would be eager to launch in the country but with very little chance of success?

Thank you for your insights.
Priscilla

Hi!I got your message and I have to be very honest with you.I have attended many courses in entrepreneurship.Its always good during the course but after that ,I feel many promises are not kept.Starting a business is one thing but having a business already going on is another.Which area are you looking at and probably we can share pros and cons.Sometimes you can't know it till you start ,plus your input I guess I what matters.
Please share what you have in mind.

Ok. Thank you i'am living in developing country so small Industry in very very advantageous.

The thing you have to know (and remember) about Norway as an outsider (foreigner)  is that Norwegians will, to some extent, be suspicious of you. (that includes the banks also).

Norway has LOTS of rules & regulations, doing things, by-the-book is standard procedure and depending upon what kind of service you are offering, they will wonder if it's safe to deal with you.

That is not to say that a foreign run business cannot succeed here, it's just that you really need to get involved in a Norwegian startup network first.  In Norway it's not so much, what you know, but rather who you know.

Starting a business here as an outsider can be a lengthy process and will require a lot of commitment and hard work, coupled with the staying power and positivity to ride out difficult periods, particularly in the first year.

Norway is a money making machine, and the focus on making money has now only intensified with such huge losses in the oil industry.  They are keen to find ways to fill that gap in their income stream.

And on a final note, Norway has, for a long time, been a very rich Country, this, in turn has driven up the costs of just about everything. The only thing you are not charged for is the air you breathe, but that may be subject to change :) In other words,  it's not cheap here so plan carefully and do your research, and then when you've done your research, do it again from a different angle, just to be sure.

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