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Christoph Grizzard Talks About the Importance of Researching Your Market
Entrepreneur and investor Christoph Grizzard is in the process of returning to the USA to Nashville Tennessee, after spending several years developing enterprises in Italy and Portugal. While Christoph Gizzard does originate from Kentucky and has returned for plenty of visits during his time in Europe, he is very aware that the market has changed, and sees it as very important to understand the shape of the business scene there before plunging into his latestTennessee based venture.
One of the biggest changes in Tennessee has been a big drive towards small businesses and start ups. In 2010, the state of Tennessee removed the corporate license tax for businesses, and also reduced income tax for businesses to just 6%, inspiring plenty of entrepreneurial ventures in the bluegrass state.
At this moment in time it is estimated that 90% of registered businesses in Tennessee fall into the SME category (small to medium enterprises). This means there are a huge number of people running their own businesses with 50 employees or less. This is something that is very encouraging for the state, but has changed the atmosphere in the region considerably – something that Christoph Grizzard believes it is very important to understand as a businessman returning to the state.
When asked about his strategy, Christoph Grizzard said:
“I believe it is very important to really know how things stand in an area before you try and start a business there, and this is not static information. Just because you knew a place once, doesn’t mean you don’t have to do this important research, because places change – especially when there is a big drive towards things like new business as there has been in Tennessee. It would be a mistake for me to be complacent and assume that just because I have operated businesses there before, I already know what I need to know to operate them in 2015 or 2016. You always need to do your market research, talk to people in the local business scene, and make sure you are not running on out of date information.”
Christoph Grizzard is really excited to be going back to America, and plans to open for business partnering with some of his US connections as soon as the time is right.
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