I need advice

[Yahya]

I'm gonna be a med student next year, but i'm hoping to run a business in my homeland of sool. I'm sitting here planning ahead for my future while my peers go out and party. The reason being i want to be able to control my own destiny. I'm gonna speak to my family about it, as they are normally supportive and wiser than i am.

It's just a big jump to start a business and takes a lot of time and effort, but in reality most ppl don't completely run their own businesses and hire others to run most of it for them. I'm thinking to start small scale and expand if things go well.

Has anyone got experience in running a business back home? What challenges did you face? did you have to take a loan? is land expensive?

 

[Hassan Garguute Buldanana]

Mashallah, what kind of business did you have in mind?

 

[Yahya]

Mashallah, what kind of business did you have in mind?

I haven't decided. I'm starting off with an agriculture business in sanaag, since my grandfather left us some land. But my father wants me to invest in sool where he has land..

What i'm worried about is the laws and land prices. I am very business orientated and know exactly what i want to do and who i can trust to help me. If a dumbass like trump can run a business, then so can i. I don't see age as a restriction and am very on top of my studies. On the weekends i plan my future and chill when i'm done. It's better than what most students do here, who just sit around waiting for debt to catch up to them with no plan in sight.

 

[Zayn]

So you wanna grow crops or keep livestock

 

[Zayn]

So you gonna grow crops or keep livestock

 

[Yahya]

So you wanna grow crops or keep livestock

Crops. Not livestock.

 

[Zayn]

Crops. Not livestock.

Then you have to grow drought resistant crop or go green house

 

[Yahya]

Then you have to grow drought resistant crop or go green house

No worries. I've taken all that into account.

 

[Zayn]

Also try growin' khat. You will be laughin' all the way to the bank

 

[Zayn]

I also want to have a farm/plantation in the future in Somalia in the fertile South

 

[Yahya]

If i start a company. I want to avoid paying taxes in the uk. The income tax is crazy ( like 39%).

I wonder how i can avoid paying taxes here. I don't know what the business income taxes are in somalia. Imagine paying taxes to a country that doesn't even appreciate you. That's a massive L. No thanks.

 

[Yahya]

Does anyone have relatives with businesses back home? How easy is it to conduct business in somalia? Are there any laws i need to know about? Will i have to pay taxes to both my homeland and the current country i live in?