Join the new world

With the influx of new workers into eAustralia, some enterprising minds might take the opportunity to create a company with 20 spare gold and provide employment for the country (and hopefully make some profits in the process). The eAustralian government desperately needs more employment for workers as South Africans seek refuge in our country.

If you have taken the plunge (or are about to) here are some fast short tips to get starte😛

* Make sure you have 10 employees at all times, this will increase your company's efficiency and lower your cost of production;
* Try to have a decent buffer of extra gold/AUD behind you, this allows you to build up a decent workforce, acquire raw materials if you need it and stockpile goods to sell at a better price another day;
* If running a manufacturing company, search for Raw Material prices across all Qualities, not just Q1, for example. Remember a Q4 raw material is equivalent to 4 x Q1s of the same item, and higher Qs will generally be cheaper to buy per unit;
* Try installing eRepublik plus, this helps in converting all raw material offers to gold per unit;
* Monitor your business daily using the True Blue Calculator - this tool shows you how much your cost to produce really is;
* Research your market before you enter into it - is it heavy in competition already? how deep is the market for offers of your goods, how much do other GMs have in their stockpiles? A great way to check global market prices is by using eRep tools;
* In Australia, do not start a company in the iron, wood or oil industries. These are medium industries and can never be profitable.
* Adjust your wage rates every day, keep them as low as possible to keep your cost of production as low, but keep them above the job market so you do not lose employees;
* Trade spare reserves on the Money Market to create further cashflow;
* Don't drop your price by one cent simply to get the sale, unless you are still making profits.
* Join the Australian Business Association on the eAustralia forum and ask experienced GMs for tips.

If you are a GM, and have a handy tip, add it in the comments and I will add it to the list!

Regards
infin