The choice between a capital city and a coastal town for opening a professional branch, a new business office, or establishing a company depends on various factors. It depends on the type of business you wish to have and your goals. A crucial prerequisite is the thorough study of the laws and obligations that apply to business activities in the specific area.
There are advantages to all options. However, Nicosia, as the capital, offers unique benefits for opening professional branches. Its central location facilitates access to national and international markets, while the absence of coastal restrictions allows flexibility in the business environment.
Key advantages:
*Larger Market:
Capitals usually have a larger population and a broader market compared to coastal towns. This is true for Nicosia, meaning more customers and opportunities for business growth.
Easy Access:
Capitals typically have better connections with the rest of the world, and distances to other cities are shorter, facilitating contacts and business transactions.
Governmental Support:
Almost all government agencies and services are located in Nicosia, providing faster support and incentives to businesses.
Education and Scientific Research:
Capitals usually host most universities and high-level research centers, as is the case in our capital, facilitating access to educational resources and innovative technologies.
Business Community:
Many capitals, including Nicosia, often host larger business communities and events that can help with networking and the development of a business.
Lower Property Prices Compared to Coastal Towns:
Perhaps most importantly, while Nicosia is the capital and has all the essential central government services, a multitude of universities, and other services, it has lower property prices compared to almost all other cities. At the same time, unemployment remains at low levels, providing opportunities for both employment and finding personnel, whether locals or foreigners.
Depending on the type of your business, it may be more advisable to choose a capital or a coastal town. Evaluate the needs and goals of your business carefully before making decisions, including determining your budget, needs, the number of employees, and the type of tasks that will be carried out in the office. Accessibility to public transportation for employees and clients is also essential, and finally, determine your future needs.
Choosing the right space for creating an office is crucial for the success of your business. Consider the future needs of your business and whether the space is adequate for them.
Anna-Maria Eftychiou
Director of PR & Communication
G&P LAZAROU Estate Agents
