In order to facilitate the operational practices of the business and gain a profitable market, a major proportion of business organizations are moving across national borders to international markets (Mowforth & Munt, 2015). In this context, the anticipated report is undertaken to discuss entrepreneurship in emerging markets. To validate the purpose of this literature, a case study of Goiko Grill’s expansion plan to Latin America is critically analyzed.
Goiko Grill was started in the year 2013 as a gourmet hamburger chain in the locality of Madrid, Spain. Initially, Goiko Grill, the burger bar was a small scale business commencement by Andoni. Later on, due to the quality product, close treatment, and cost-effectiveness, by the starting of 2018 approximately 30 restaurants were operational in 10 different cities in Spain (Goiko Grill, 2018). After the successful accomplishment of business ventures to Madrid, now it’s targeted to expand to the emerging market of Latin America. For this, a critical analysis of entrepreneurship in the Ciudad de Panama and Guatemala City is made in the anticipated research report.
Panama is considered as a potential emerging market for better business opportunities in the contemporary scenario. The foremost advantage for Goiko Grill would be tax benefits as there is no offshore income tax, federal tax, capital gains tax and state tax. Along with this, low inflation rates, stable currency, and favorable incorporation laws also acts as a potential benefit for business ventures in Panama as it assists the organization by an authorized custodian. Moreover, availability of low-cost labor, world-class banking system, and growing international market also presents Ciudad de Panama as a prospective business market for the business aspiring to globalization (Spalding, 2013).
The most significant factor which facilitates the relation of entrepreneurship in Guatemala City is the population of 1.1 million. Out of which, a majority of the population comes under underprivileged segment. Being a poor nation with unreserved market conditions, Guatemala welcomes business opportunities with creative ideas. The economic stipulation of the city recommends seeking for low-hanging opportunities. Moreover, Guatemala City is known as “the country of the eternal spring” because it experiences spring almost throughout the year. Hence, geographical conditions and weather also ensue as a business advantage in the emerging international markets. The people of the city are also very talented and hardworking, which can act as a potential resource for the business venture in Guatemala City (Adams & Cuecuecha, 2010).
All the discussions and arguments presented above are centrally oriented to the relations of entrepreneurship in the emerging market. The expansion plan of Goika Grill in Latin America was critically analyzed for two locations, which are Ciudad de Panama and Guatemala City. On the basis of evaluation, it can be concluded that business opportunities in Ciudad de Panama could be more flourishing for Goika Grills. The justification for this can be made by the fact that it has better tax regulations, favorable incorporation laws, adaptable economic regulations and emerging market with low inflation rates. On another side, Guatemala City comes under deprived conditions and uncertainty of complex business ventures is also high there.
Adams Jr, R. H., & Cuecuecha, A. (2010). Remittances, household expenditure and investment in Guatemala. World Development, 38(11), 1626-1641.
Goiko Grill. (2018). GET TO KNOW US. Retrieved 23 April, 2018, from https://www.goikogrill.com/en/get-to-know-us/
Mowforth, M., & Munt, I. (2015). Tourism and sustainability: Development, globalisation and new tourism in the third world. Routledge.
Spalding, A. K. (2013). Lifestyle migration to Bocas del Toro, Panama: Exploring migration strategies and introducing local implications of the search for paradise. International Review of Social Research, 3(1), 67-86.