Join the new world

Hello,

This is the third article from the Department of New Citizens in the series giving information to the new citizens on eRepublik. This article will give an overview of business and economics in eRepublik focussing on business in eIreland.

STARTING A BUSINESS:
First thing you need to do - buy an organisation. They are the most important tool, in my opinion, in running a business. Orgs are a little bit like additional citizens.

Advantages of organisations are:
- You may own multiple companies
- You do not lose Wellness through organisations
- Multiple people may run companies
- You can buy raw materials through your org and send them to your companies.

Organisations cannot:
- Become politically active
- Fight
- Eat
- Train
- Work

Organisations can be moved, but only with moving tickets. Companies cannot move. Organisations can own newspapers.

WHAT INDUSTRY AND PRODUCT TO CHOSE:
There are three industries in eRepublik. These are Manufacturing, Agriculture and Construction. Industries are linked to a citizen's work skill. The products in the different industries are:

Manufacturing: food, weapons, moving tickets, gifts
Agriculture: grain, iron, oil, diamonds, wood
Construction: houses, hospitals, defence

Agriculture companies produce raw materials. These end up in manufacturing or construction companies. Raw materials are made this way:

Grain > Food
Iron > Weapons
Oil > Moving Tickets
Diamonds > Gifts
Wood > Houses, Hospitals and Defence

Ireland does not have a good agricultural industry. This is because we only have grain and iron resources, and none of these are of high productivity. If you are planning to create an agricultural company abroad, it may be difficult to sell your product: If they have high productivity in a raw materials, there will be a lot of competition for the product market and the job market. Some entrepreneurs buy material companies to back up their manufacturing or construction companies. Be careful when setting up an agriculture company, as you need to check if the region you are placing the company in actually produces the product you want to make.

Manufacturing is probably the best bet for the new entrepreneur. It takes a lower amount of resources to produce products than housing. There is speculation as to whether or not there are good enough jobs to employ in manufacturing in Ireland, but I own a Q1 weapons company here, and I have no problem employing Skill 3s and Skill 4s

Businessmen in construction mostly deal in housing. It takes more time and resources to build a house than a product in manufacturing. If done right, you get more profit in a single sale than a manufactured product. There are jobs in Ireland for this industry.

Hospitals and defence is done mostly for the benefit of their country. A hospital or defence company moves to a target region, uses wood and employs construction employees as normal. When it is completed, the hospital or defence system can be used in that region in case of war. A Q1 hospital or defence company makes a Q1 hospital or defence system, Q2 makes Q2 and so on.

WHAT CAN BE DONE WITH A NEW COMPANY:
Buy raw materials: Companies can buy raw materials in the products market. Materials can also be donated to your companies by orgs, so you can buy materials with your org, or buy by donation from other orgs. Agriculture companies do not need to do this.
Employ: You can post offers, entering the number of jobs, the minimum skill wanted and what wages you offer. Job offers appear in Human Resources in the country where the company is placed.
Sell products: You can sell your products on the market. You set the price and quantity of the products you wish to sell. Taxes are paid on every manufactured product you sell on the market.
Finances: You can invest or remove money from your company. Withdrawing funds costs you income tax. Companies count as a separate account in the monetary market, so you can exchange gold and the national currency through them. Wages are drawn from the company account. Money goes to the company account when products are bought.
Upgrade your company: You can pay to upgrade the quality of your company.
Sell your company: Selling your company posts an offer on the companies for sale market. You set what price you would like to sell at.

SELLING AND TAX:
The most basic way to sell your products is to make an offer on the market. When selling this way, Value Added Tax is added to the price of manufactured products. You can also buy a market license. This allows you to sell to a country abroad (provided there is no trading embargo between the two countries). Import tax is added to the price.

Another way to sell is by donation. This is when two parties make an agreement with each other. One donates money, and the provider donates product. There is no way to withdraw products from your companies other than to put them on the market and buying it yourself. The money goes to your company, but you pay VAT. It is risky when selling this way, as one party may not fulfil their side of the agreement. You can request a contract to secure your deal.

WHERE ELSE TO FIND OUT ABOUT THE NATIONAL ECONOMY:
The Economy page under Rankings give you more detail about the economy. It tells you the taxes of the country, minimum and average wage, national treasury, inflation, trading embargoes and national productivity. Please note that some of the ratings are not accurate.

So, that's it for now. The next article will be about the political system.


New Citizen Help 1: The Basics
New Citizen Help 2: Wellness and Experience

If anyone have any questions, please feel free to ask me. Please join and become active at the national forums at www.erepublik-ie.com. If you have any further problems, the Wiki pages are a great resource for information.

kindest regards
binksy