Your best business development ideas in Puerto Rico

42358POSTS

9 years ago

Hi everyone,

As a foreign entrepreneur, launching a business in Puerto Rico 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 Puerto Rico? 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

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lgustaf Serial expat

401POSTS

9 years ago

Governor Padilla recently approved the use of medical marijuana, something few know. Nobody's producing it in PR, to my knowledge, and considering the climate, I can't imagine it would take much capital to get a production facility going. You could recruit some expertise from Colorado.

1 member reacted to this post

ReyP ViP

5509POSTS

9 years ago

lgustaf wrote:
Governor Padilla recently approved the use of medical marijuana, something few know. Nobody's producing it in PR, to my knowledge, and considering the climate, I can't imagine it would take much capital to get a production facility going. You could recruit some expertise from Colorado.

Probably the most expensive part will be security for the crops and for the cash. Also processing, in PR is not allowed to just smoke it. So oil, candy, food items, creams,etc needs be created while minimizing potency lost.

I think (may have changed), that Colorado had a lot of issues with the cash because banks would not allow them to have a bank account since it is still illegal by the federal goverment. Not sure if that has changed. But I imagine them digging holes to hide it like El Chapo

There are doctors already that are allowed to prescribe it in PR and according to some reports a week or so ago, over 250 people have their mariguana card. By now the numbers must be bigger.

1 member reacted to this post

lgustaf Serial expat

401POSTS

9 years ago

The problem with banks in Colorado had to do with the FDIC national banking system. Many private banking and financing entities spang up to fill in the gaps. They also transacted using Vendio and PayPal, which aren't banks.

adlin20 ViP

1057POSTS

9 years ago

One more reason for some of us to retire in the island!! Lmao

lgustaf Serial expat

401POSTS

9 years ago

Hey, Adlin, my mother is 90 years old, lives in Colorado, and swears by medical marijuana.

adlin20 ViP

1057POSTS

9 years ago

lgustaf wrote:
Hey, Adlin, my mother is 90 years old, lives in Colorado, and swears by medical marijuana.

Me too!!

Well not the "medical one".

ReyP ViP

5509POSTS

9 years ago

I happen to be allergic to it

SawMan Serial expat

577POSTS

9 years ago

#10

adlin20 wrote:
lgustaf wrote:
Hey, Adlin, my mother is 90 years old, lives in Colorado, and swears by medical marijuana.

Me too!!

Well not the "medical one".

I didn't see that on your monthly budget adlin20 that you posted on another thread. Or, did that fall under "Miscellaneous"?

adlin20 ViP

1057POSTS

9 years ago

#11

SawMan wrote:
adlin20 wrote:
lgustaf wrote:
Hey, Adlin, my mother is 90 years old, lives in Colorado, and swears by medical marijuana.

Me too!!

Well not the "medical one".

I didn't see that on your monthly budget adlin20 that you posted on another thread. Or, did that fall under "Miscellaneous"?

Shhhhh!!!! Separate budget!!!

lgustaf Serial expat

401POSTS

9 years ago

#12

Well, Aslin, I don't smoke marijuana, but I have no problem with anybody tht does. But it is medicine, and has been used as such for centuiries. There is a real opportunity for the pharmacetical industry, but it is making so much money from the drugs its peddling already to exploit therapeuttic marijuana. I'm not in the busiess of agriculture, but if I were, I would so get a farm together and start cultivating commercial hemp in PR. It is a serious cash crop. Not just for medical marijuana, but for paper, building materials, and much more.

adlin20 ViP

1057POSTS

9 years ago

#13

I don't smoke it neither, just having some fun. Only time I tried I was in high school. I discovered that I could do the same with alcohol and did not had to hide.
I don't care if anyone do or don't, it is your life. If it helps good, it is only ilegal because the government says it is. Now the government wants to make it legal and tax you for it.

sunsamza Member

1POSTS

9 years ago

#14

I work in a legal California dispensary. Everyday I see more and more people come in with caregivers, on walkers and in wheelchairs, Veteran's with PTSD, parents who need it for their children. There's not an item on our floor that is not lab tested. Nothing that looks like candy for the safety of the children. It's a beautiful facility. I'm glad it helps so many maintain their pain management and for those who just enjoy smoking the flower ... all good. It's not going away!

ReyP ViP

5509POSTS

9 years ago

#15

I have to stay away from people whille they are smoking it. Otherwise I start puking my guts out. So I guess ii will not be using it for medicine or recreation. MA just legalized it for recreational use, effective Dec 16 I think.