Introduction

A dynamic business environment is of vital importance to any economy. Advances in technology, new products and services as well as changing trends and attitudes require businesses to react – quickly.

However, entrepreneurs without a structure of in-house or contracted professionals can find that they spend much of their valuable time chasing information, advice and assistance. Invariably also, sources of information are sited at different locations and business people find that they are too busy running their businesses or livelihoods to look around for such help.

Much emphasis is therefore placed by modern economies on the need for business groups and associations that facilitate processes and provide assistance to businesses. For this reason, the Government of Gibraltar has set-up a strategic operation called InvestGibraltar to guide and support registered businesses in Gibraltar.

InvestGibraltar

InvestGibraltar has been set up by the Government of Gibraltar to be a frontline organisation acting as a bridge between the private and public sector. It provides business related advice, guidance and support to businesses wishing to start up, expand or diversify an enterprise in Gibraltar.

For the most part, the information supplied by InvestGibraltar is based on the main sectors of the Gibraltar economy. However, an InvestGibraltar Officer will normally and happily try to assist with any issue if it is a business related enquiry.

IG is fully funded by the Government of Gibraltar and consequently it is a free service for any individual or enterprise with a business interest in Gibraltar. The information is provided in a friendly and professional manner, free of bias and discrimination.

InvestGibraltar is charged with:

1. Packaging and promoting Gibraltar’s main investment opportunities under one banner;
2. Assisting the Government in the fulfilment of its commercial policy objectives;
3. Developing and co-ordinating investment proposals;
4. Providing support to new investors and to Gibraltar’s Small and Medium Enterprise base.

InvestGibraltar Officers

InvestGibraltar offers on-the-spot information on a wide variety of business topics. Literature and information packs are available free of charge. However, if the Office’s printed material does not satisfy an enquiry, it could subsequently be addressed and answered via a telephone call or meeting with an experienced InvestGibraltar Officer.

It may be necessary to request further information from other Government departments or agencies before being able to satisfy an enquiry. InvestGibraltar Officers will either facilitate a telephone call or meeting with the most appropriate person or contact them on behalf of the enquirer and retrieve the required information.

The InvestGibraltar Officers are trained professionals. They understand the needs of existing businesses and the frustrations encountered by those starting up. No request for information is treated as too simple to ignore or too complicated to withdraw from.

An InvestGibraltar Officer will however limit his or her expertise to providing general business advice. An enquirer may be advised to engage the service of a licensed practitioner such as a lawyer, accountant or business manager to provide specialist advice. The work of the InvestGibraltar Officer is not intended to substitute the function carried out by other Government departments or professional bodies but rather complement and add value to their actions.

Business Support Packs

InvestGibraltar’s Business Support Packs is composed of literature and support material that focuses on the most prominent sectors of the Gibraltar economy. The information is available free of charge from the InvestGibraltar Office. Alternatively, it can be requested via email or obtained from the InvestGibraltar website (www.investgibraltar.gov.gi).

The information is useful to any business or individual intending to start up, expand or diversify an enterprise in Gibraltar.

In view of the fact that there are numerous types of business models, the information contained in the Business Support Packs may not cover all of the issues that are relevant or indeed necessary to set up, register or license a particular type of business in Gibraltar. Nevertheless, the information is applicable in most general cases and it has been presented in a user-friendly, practical manner. The Packs contain guidance notes, sample application forms, informative literature and other useful items that could prove invaluable for the user.

The Business Support Packs may contain material produced by the InvestGibraltar Office as well as information gathered from other Government departments and relevant institutions. The intention is to gather and present the latest and most applicable information to cater for the needs of an ongoing concern in an ever-changing business environment in one serviceable pack. The Packs may also hold other commercial information produced by banks, insurance firms, accountants, lawyers and business support groups.

Setting up a Business in Gibraltar

In many cases, the desire to set up on one’s own derives from an unadorned business idea. It is often surprising how little thought is given to considerations such as market research, the sustainability and feasibility of a project, financial requirements, restrictions, procedures and social consequences. If these issues are not fully explored then it may leave the potential entrepreneur sailing into a sea of uncertainty and fruitless dreams.

An investor wanting to set up a business in Gibraltar can gain particular benefit from contacting InvestGibraltar. The InvestGibraltar Business Support Packs include a specific booklet that has been designed to assist and inform any interested party on the procedures to follow when setting up a business in Gibraltar.

Copies of this booklet, aptly named ‘Setting up a Business in Gibraltar’, can be obtained free of charge from the InvestGibraltar Office, Department of Trade & Industry, Suite 771, Europort, Gibraltar or alternatively they can be requested via info@investgibraltar.gov.gi if not downloaded from www.investgibraltar.gov.gi.

If specialist advice is necessary, an enquirer may be advised to speak to a qualified officer in another Government department, agency or a licensed professional such as a lawyer, accountant or business manager.

Copies of this booklet can be obtained free of charge from the InvestGibraltar Office, Department of Trade & Industry, Suite 771, Europort, Gibraltar, or alternatively it can be requested via info@investgibraltar.gov.gi.

Guidance

A request for information may require a measure of guidance, especially when there is a need to follow established procedure or comply with regulation. An InvestGibraltar Officer will endeavour to provide as much useful information and advice on what is to be expected when operating a business in Gibraltar. Guidance may include issues such as how to go about obtaining information, where to go, what to ask for, likely costs, lead-in times, etc.

In some cases, in order to avoid calling five Government departments before obtaining the required information, it might be useful to visit the InvestGibraltar website or call the InvestGibraltar Office for assistance. The InvestGibraltar Officers will happily do the running around and chasing up of information and data as part of the service.

Advice

The InvestGibraltar supplies impartial advice on general business related maters. It does not substitute the expert advice provided by specialist bodies. Nevertheless, an objective opinion is always useful and can sometimes help an interested party formulate ideas more clearly.

Advice normally includes encouraging the interested party to consider all aspects of the proposed business model, such as the prospective opportunities that may exist in the current market, flagging any issues that may become potential obstacles or risks when starting up or sustaining a business.

Those aspiring to start up, expand or diversify a business are advised to create a sound business plan, carry out market research as well as cost the project over a three-year period. The InvestGibraltar Officer here will aim to pinpoint shortcomings or identify certain areas worth expanding on.

Additionally, since InvestGibraltar works closely with other Government departments, it is sometimes possible to provide useful advice on how to approach a specific Ministry with a proposed business venture.

Funding

Funding is a key consideration in any project. It is vital that due consideration is given to the level of investment necessary to start up a proposed, sustainable venture. The seed capital injected into a business may be lost if the strategy behind the business idea fails to be targeted, realistic and market sensitive.

InvestGibraltar is not a funding body. Nonetheless, it offers impartial advice in relation to developing business ideas and pointing out potential sources of funding.

IG likewise works closely with the Government organisations that provide EU sponsored grants, Government loans e.g. Gibraltar Enterprise Scheme, training programmes and wage or rent subsidy schemes. Furthermore, it also has good working relationships with banks and other financial lending institutions.