First and foremost, the Czech Republic contrasts with the countries of European Union like Germany, Austria, Switzerland, Great Britain as well as former Soviet Union countries with respect for the law. Consequently, the business structures and entrepreneurs here operate in accordance with the official rules which are enacted in the country. The Czech Republic is honoured in a stable position in the growth of small and medium-sized businesses. Doubtless, they are primarily supported and encouraged by the state. Making profit in the Czech Republic is acknowledged to be rather simple in case one follows the laws and is aware of the responsibility for the business.
It is necessary to understand, the sphere of commercial enterprises is divided into different types, depending on the conditions and tasks related to income generation:
- residential real estate used for rental. The demand in the Czech cities for rented placements prevails and increases because more and more tenants arrive in the country and resettle from the countryside. Both foreigners and locals with extra money purchase residential real estate to rent for everyday or long-term lease. One should also draw the reader`s attention to the fact that business yields a steady income. This can be 5-6% of annual net revenue;
- hotels, hostels, guest houses and places like this for short-term residence. It is undeniable that this kind of business is especially beneficial in the Czech capital, in resort regions and large cities;
- shops, shopping malls of foodstuffs or industrial goods;
- recreational facilities;
- restaurants, cafes, bars. In the Czech Republic, this type of business has a stable income so far as the residents obtain good wages and keen on spending their leisure time in pubs. Furthermore, tourists provide the owners of commercial real estate in the Czech Republic with satisfactory profits;
- personal services. These consist of hairdressing, women’s hair and nail salons, public baths of diverse types and stuff like that;
- gyms for fitness, cardio, TRX, HIIT, weight training, etc.;
- pharmacies and private medical facilities;
- tourist, realtor, law, linguistic, wedding, event, fashion agencies;
Eventually, being part of a small business in the Czech Republic means both decent earnings and a lot of enjoyment, since the country has set up an auspicious entrepreneurial atmosphere.