want to move to paphos and set up a small business with our young family-help!

[jaye88]

okay so we are a family of 3, in 23, my bf is 45, and we have a 3 year old daughter. i havent worked since getting pregnant with our girl, but have good gcse's and a-levels, my bf has a small business, his house is on the market, and we both want to realise our dreams of moving to cyprus, after mortgage and other things are settled we have a small but healthy sum of money to go with. we would like to have a small business out there, we have a fair few idead about what we woud like to do, my partner has a good business head, and we both have the people skills to make it work.
now id just like pointing in the right direction as to where to start, were planning a holiday there soon to look for some locations, speak to other expats, and get a general feel for what we want to do. is definatly paphos that we want to move to though. so theres renting tothink about, schooling, business ideas, etc etc.
i would be really greatful for any advice
thanks xx

[Cleo Shahateet]

It is a difficult time to start up a business in Cyprus as the economy is very bad. Do you know what you want to do? Starting a new business, in a new country without knowing anyone could be very hard. Not impossible, but I would highly recommend coming out to spend at least a month or two before you pack up and move.

[kimonas]

Originally Posted by jaye88

okay so we are a family of 3, in 23, my bf is 45, and we have a 3 year old daughter. i havent worked since getting pregnant with our girl, but have good gcse's and a-levels, my bf has a small business, his house is on the market, and we both want to realise our dreams of moving to cyprus, after mortgage and other things are settled we have a small but healthy sum of money to go with. we would like to have a small business out there, we have a fair few idead about what we woud like to do, my partner has a good business head, and we both have the people skills to make it work.
now id just like pointing in the right direction as to where to start, were planning a holiday there soon to look for some locations, speak to other expats, and get a general feel for what we want to do. is definatly paphos that we want to move to though. so theres renting tothink about, schooling, business ideas, etc etc.
i would be really greatful for any advice
thanks xx

I must sound like a cracked record constantly warning younger families off Cyprus. Please see previous posts about the economic, cultural, educational and health risks that would typically face a young family attempting a move without having done a couple of years of thorough research. If you contemplate selling property and burning bridges, without solid plans, lots of luck, connections and family network support any small business is almost doomed to failure in the current economic climate. This isn't such a problem for singles or couples that can have a bit of an adventure and then start again when things go wrong - with dependents, the risks and dangers take on a whole new dimension. In my work (within the schools and higher education sector) I have encountered scores of families that are now moving back to the safety nets of the UK having blown their finances on seemingly sure fire business plans - most have not taken into consideration the almost infathomable community and family networks here that make business planning really challenging as you will face intense competition (in almost every field), sometimes intimidation, and a maze of red-tape and sometimes misinformation. Starting a business here is not impossible, but it takes many months, if not years of careful research and planning to make a real go of things. If things do go wrong and you have to return to the UK after a number of years, any dependents of school age would face real adjustment problems if they have started their schooling here in the state system - they would be faced with a whole new culture and language to learn at a time when they have probably only just got around to adopting to the Cypriot system.

Sorry for sounding pessimistic (again) but experience tells me that bringing a young family to Cyprus with no concrete plans on support and security is not a good idea in the current economic climate...

[Veronica]

Originally Posted by kimonas

I must sound like a cracked record constantly warning younger families off Cyprus. Please see previous posts about the economic, cultural, educational and health risks that would typically face a young family attempting a move without having done a couple of years of thorough research. If you contemplate selling property and burning bridges, without solid plans, lots of luck, connections and family network support any small business is almost doomed to failure in the current economic climate. This isn't such a problem for singles or couples that can have a bit of an adventure and then start again when things go wrong - with dependents, the risks and dangers take on a whole new dimension. In my work (within the schools and higher education sector) I have encountered scores of families that are now moving back to the safety nets of the UK having blown their finances on seemingly sure fire business plans - most have not taken into consideration the almost infathomable community and family networks here that make business planning really challenging as you will face intense competition (in almost every field), sometimes intimidation, and a maze of red-tape and sometimes misinformation. Starting a business here is not impossible, but it takes many months, if not years of careful research and planning to make a real go of things. If things do go wrong and you have to return to the UK after a number of years, any dependents of school age would face real adjustment problems if they have started their schooling here in the state system - they would be faced with a whole new culture and language to learn at a time when they have probably only just got around to adopting to the Cypriot system.

Sorry for sounding pessimistic (again) but experience tells me that bringing a young family to Cyprus with no concrete plans on support and security is not a good idea in the current economic climate...

Well said Kimonas

[jodieb8]

We are thinking of doing the same bit have had so many negative comments

[Veronica]

Hi jodie,

I know it must be disheartening to hear the negative comments but I personally feel that is it better to prepare people for the worst rather than making everything sound rosy.
When my husband and I came here to live we had already bought a property, had no mortgage and enough money to see us through for quite some time.
We spent the first 2 years researching the business we intended to start, getting to know the pitfalls, the developers not to trust, the best lawyers etc etc before launching our business.
As we have no dependant children thigns went well for us but I dread to think how it would have gone if we had young children.
In the 7 years we have been here we have seen so many young families going back to the UK to throw themselves at te mercy of the government because they have lost everything they had.
If you really want to give it a go you must make sure you plan very very carefully, do thorough research and make sure you have a very healthy bank balance to tide you over while you find your feet.

Good luck with whatever you decide.

Veroncia

[jodieb8]

Hi Veronica,

Yes it is very disheartening when he have decided to go for it and now I am having second thoughts because of the comments. However, thank you for being honest. You obviously know what it is like to do it as you have experienced it. If we were to continue looking into doing it how much money would you suggest we have behind us?
We do not want to buy a property, just rent initially.

Thanks again

Jodie

[Veronica]

I would recommend that as well as a years rent you should also have a years living money. For a family of 3 at the very least 15K plus your rent money.
This would give you a cushion if you cannot find work.
Whatever you do make sure that you have enough money put to one side for relocating back to the UK if things don't work out.

Veronica

[jodieb8]

Veronica,

Thanks, that is very helpful. We do have that amount but need to start saving for rent too then.

Jodie