Global Business Opportunities in Croatia

The first objective is to assess Croatia’s environment by examining the economic, geographic, political and cultural factors. The factors listed above are used to define the “environment” which I interpret as being instrumental in defining the opportunities available. Lets start with basic information. Croatia is a nation in south-eastern Europe with a population of 4.5 million people and a land mass of around 56,000 square kilometres, almost 13,000 square kilometres larger than Denmark or the size of the US state Wyoming. When it comes to its structure, Croatia has many weaknesses, for example, large regional economic disparities, doesnt have a clear national competitive advantage, and also has structural weaknesses due to having a recent war. Therefore, its economical situation is pretty weak. However, this country has a healthy urban environment that provides many benefits for entrepreneurship, especially a growth-oriented, innovative, high technology form of entrepreneurship. The presence of universities and research centers fuels evolving technologies and promotes innovation as well as providing an economy with an educated workforce. There is also a high population density which brings a diversity of demand in a relatively small geographic area which reduces communication and transportation costs. There is also a mixture of trade and diversity that attracts other businesses including „out of country“ businesses. When it comes to its cultural factors, Croatian people have high power distances and high uncertainty avoidance but low individualism and masculinity.This situation can be negative for starting a business but also could bring exactly the opposite outcomes. The supply of entrepreneurship is increasing because Croatians are motivated to start a business based on dissatisfaction with the collective culture in society or their workplaces. Even though the economic situation in Croatia isnt the best, I believe there is always a way to make a succesful bussines, just have to have a good nose for it, a lot of knowledge and a little bit of luck.  With that said, I think an „Old Irish Pub“ could be a succes because the bar and restaurant industry is growing from year to year and it is expanding since the taste and desires of people are constantly changing and developing. As I said in my research earlier, people love to try new things, that they have not chance to try before. An Old Irish Pub is also a well-known name, so it has an advantage over new entrants in the business.