{"id":167753,"date":"2025-09-05T10:28:40","date_gmt":"2025-09-05T08:28:40","guid":{"rendered":"https:\/\/factorialhr.com\/blog\/factorial-play\/videos\/opening-a-business-in-24-hours-how-and-where\/"},"modified":"2025-09-05T10:28:40","modified_gmt":"2025-09-05T08:28:40","slug":"opening-a-business-in-24-hours-how-and-where","status":"publish","type":"factorial_video","link":"https:\/\/factorialhr.co.uk\/blog\/factorial-play\/videos\/opening-a-business-in-24-hours-how-and-where\/","title":{"rendered":"Opening a business in 24 hours: how and where?"},"featured_media":0,"template":"","meta":{"_acf_changed":false,"_video_type":"highlight","_related_series":167174,"_related_episode":167411,"_related_season":0,"_video_source":"vimeo","_youtube_video_id":"","_vimeo_video_id":"1115736789","_speaker_id":167138,"_video_description":"Santiago Ferrada discusses the potential of launching a business in just 24 hours, emphasizing the need for effective leadership and a strong company culture. He highlights the contrasting entrepreneurial landscapes, noting that countries like Chile have developed models to facilitate quick business setups during crises, unlike some European nations that impose obstacles. Ferrada stresses the importance of communication and a clear career plan to navigate these challenges and capitalize on opportunities. He argues for a reevaluation of taxation policies to better support businesses while maintaining social values. This analysis by Santiago Ferrada underscores the critical role of adapting to market conditions for sustainable growth. Don\u2019t miss more tips and insights on entrepreneurship in the full episode.","_video_transcription":"00:04 - Open a business in 24 hours\n00:12 - Open a business in 24 hours. How and where?Anywhere is always good.\n00:18 - There is also an anecdote from my time in the textile industry.\n00:22 - This was 1890.Two London footwear companies in which they see Africa,as an exponential future market.\n00:34 - These companies send their best salespeople and send them to that country in Africa and after two or three weeks receive news from the two sales representatives.\n00:46 - The first one said \"Hello, team.I'm going home. There's nothing to do here.\n00:51 - Everyone goes around barefoot.The second salesperson said, \"Hello, team.\n00:58 - I'm staying here.This is a huge market.Everyone still goes around barefoot.\" If you have the idea or the vision, you will be able to achieve it.\n01:08 - Obviously, if we're talking about continents and so on,Well, we have to see what the current situation is.\n01:14 - How many startups can be created in one country versus another or across continents?\n01:18 - Europe much less than in the United States,or less than in countries such as Dubai or Abu Dhabi at the moment.\n01:25 - However, that doesn't have to slow entrepreneurs down.\n01:28 - This does not mean that the following stages will be much easier.in other countries than here.\n01:33 - I think Europe has many positive aspects, and the obstacles,the challenges new entrepreneurs face are complex.\n01:40 - But it is true that you then have a mature market which helps you a lot and that can give you a lot of confidence in terms of growth.\n01:48 - I think that if you want to open a business in 24 hours, there are probably other places.that make it much easier, but what you really need to look at is a little further and think,Where is the best place, not just in the short term,but rather in the medium and long term?\n02:04 - What can you tell us about countries such as Chile and how they facilitate the process of setting up a company in 24 hours?\n02:12 - Well, what happens in many countries is crisis.In the end, when we find ourselves in crisis,not only companies but also governments,have to set up models that help companies and individuals to overcome this crisis.\n02:29 - What is the first thing we encounter when a person wants to start a business?\n02:33 - Obstacles.Why are we putting so many obstacles in place at the beginning?\n02:37 - Let's simplify everything as much as possible.So, how much help or how many opportunities What support do countries give to these new entrepreneurs?\n02:46 - That the obstacles to enter in these countries to start a business means that there are people who may decide to go to other countries to set up those companies.\n02:54 - Because those countries make it easier.The mistake made by countries is twofold, because it not only generates business in your country, but you are also giving the opportunity to other countries that benefit from the ideas of your citizens,which makes you less competitive.\n03:10 - If we divide the planet into continents or by points of those highly technologically advanced,we would realize that perhaps Europe has a lower point of growth than others.\n03:25 - Just like what happened in the past between Japan and Korea.\n03:30 - In the 1950s, 60s, and 70s, Korea was in an incredible crisis because the Korean War had just ended and the country was defining itself.as a labor force,and wow! Suddenly we realize that many technology companies are based in Korea.\n03:45 - Starting with Samsung.And how long did this transformation take? Less than 50 years.\n03:50 - Because they probably made sure there were very few obstacles in the way of letting people in.\n03:56 - That's why we see this heat map of technology around the world since there are countries that really grow much faster, and this is often because We set up companies in 24 hours, not 240 days.\n04:10 - Should we rethink at the European level when and how we apply this taxation?\n04:15 - Without a doubt.Is taxation necessary to maintain our quality of life?\n04:19 - Yes.Is Europe a benchmark for well-being?Yes.If our social values are of incredible quality, even compared to with other countries, and that's a very good thing and it is clear that all of this is done through taxation, through the ability to distribute wealth in the fairest and most democratic manner possible.\n04:42 - There comes a time when we can demand more from companies.\n04:46 - And there is another time when the governments have to give much more to businesses.","_has_trailer":false,"_trailer_vimeo_id":""},"categories":[994],"factorial-categories":[],"class_list":["post-167753","factorial_video","type-factorial_video","status-publish","hentry","category-process-management-en-gb"],"acf":[],"yoast_head":"\nOpening a business in 24 hours: how and where? | Factorial<\/title>\n<meta name=\"description\" content=\"Can you start a business in a day? 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