Do you wish to start a successful business as a foreigner in Portugal? If this is the case, here are the top 20 small business ideas and investment possibilities in Portugal.
Portugal, formally known as the Portuguese Republic, is a nation in southwestern Europe that is primarily located on the Iberian Peninsula and has a population of 10,291,027 people as of 2017.
Portugal is a developed and high-income country, with a GDP per capita of 77% of the EU28 average in 2017 (up from 75% in 2012) and an HDI of 0.843 (the 41st highest) in 2016.
The Economist Intelligence Unit’s quality of life index ranked Portugal 19th in the world in 2005, ahead of other economically and technologically sophisticated countries such as France, Germany, the United Kingdom, and South Korea, but 9 places behind its only neighbor, Spain.
Despite this, Portugal remains one of the Western European nations with the lowest per capita GDP.
According to World Bank ratings, Portugal ranks 34th out of 190 economies in terms of ease of doing business.
It is worth noting that the International Monetary Fund published an update report on the Portuguese economy in late June 2017, with a positive near-term prognosis and a rise in investments and exports over prior years.
If you want to establish a business in Portugal but aren’t sure what to do, here are 20 business ideas to consider.
25 Best Small Business Investment Ideas in Portugal
1. Start a Paper Prototyping Business
Paper prototyping is a successful business that will undoubtedly thrive in Portugal.
Paper prototyping is a commonly used approach in the user-centered design process, which assists developers in creating software that matches the user’s expectations and demands.
It is impromptu prototyping in which crude, even hand-sketched, drawings of an interface are created to be used as prototypes, or models, of a design.
While paper prototyping appears to be a basic technique of usability testing, it may give a wealth of helpful input, resulting in the creation of better products.
2. Tomato Processing Plant
If you reside in Portugal, particularly in a location where tomatoes are grown in big amounts, building your own tomato processing factory may be the finest business endeavor you can invest in.
To establish your own tomato processing facility, you would undoubtedly need a large amount of starting cash, but the good news is that the market for processed tomato products is big and profitable.
The benefit of establishing a tomato processing factory is that you may locate it anywhere in the world where you can readily access tomato crops and lower labor, and then export your goods all over the world.
The popular ketchup, tomato juice, diced tomatoes, tomato powder, tomato paste, tomato pulp, strained tomatoes, partially dehydrated tomatoes, and so on are the end products of an excellent tomato processing facility.
3. Begin a Fruit Processing Business
If you are an ambitious entrepreneur with the necessary cash and maybe the necessary expertise, you should consider launching your own fruit processing factory business in Portugal.
It is crucial to note that the fruit processing plant business is one of those that will never go out of style since people consume or drink processed fruits in various ways on a regular basis.
The beginning capital for this sort of business can range from moderate to large, depending on the scale you wish to start on.
In fact, if you want to optimize earnings in your business, you should manage a fruit farm / plantation alongside your fruit processing factory.
4. Start a Feed Mill
There are several business prospects in the poultry farming sector in Portugal, and one of them is a poultry feed mill.
A poultry mill is a facility that produces various poultry mashes such as layers mash, pre-layers mash, growers mash, broilers starter and finisher, and so on.
This is a business that is available to ambitious entrepreneurs, particularly those who reside in poultry farm villages.
All you need to get started is a well-located and government-approved facility, a consistent supply of grains, and, of course, knowledge of the ins and outs of operating a business.
5. Start Your Own Essential Oil Extraction Business
Because of the quantity of raw materials needed in the manufacturing of essential oils, Portugal is a great area to establish an essential oil extraction business.
Because this is a relatively new business, you must be prepared to conduct extensive feasibility studies and market research.
It is a money – making business if it is well placed and you can build a strong distribution network.
An essential oil is a concentrated hydrophobic liquid that contains explosive plant components.
Essential oils are also known as volatile oils, ethereal oils, aetherolea, or simply the oil derived from the plant.
6. Start a Cooking Oil Manufacturing Business
Portugal is well-known for growing a broad range of olives, oilseeds, almonds, and other items used in the manufacture of cooking oil.
So, if you’re searching for a profitable business to start in Portugal, one of your alternatives is to create a cooking oil producing business.
Starting a cooking oil production firm is a capital-intensive business, but it is a money-making one.
This is one business that you can be certain will sell regardless of the season.
It is true that cooking oil is used on a regular basis in all households, restaurants, and hotels.
7. Start the Production of Exercise Book
Starting an exercise book production business is another another flourishing business in Portugal’s growing forestry sector that an aspiring entrepreneur may start.
Schoolchildren all across the globe utilize exercise books for writing in class.
In business, starting an exercise book production business is not difficult, and it is available to everyone.
Most standard exercise book production firms rely on a strong distribution network within their coverage regions to enhance sales and income creation.
8. Start a Papercraft Business
Paper craft is a group of art forms that use paper or card as the principal artistic medium to create three-dimensional things.
It is the most common material used in arts and crafts.
It lends itself to a variety of methods, including as being folded, sliced, glued, molded, embroidered, or stacked.
Handmade paper is another significant paper craft.
Most communities that utilize paper are familiar with paper crafts, with some types of crafts being particularly connected with specific countries or cultures.
9. Furniture Manufacturing Business
Forestry has also had a significant economic impact on rural communities and industries.
To capitalize on this, you can establish a furniture manufacturing factory.
With your primary responsibility being to manufacture or create household (living room, dining room, and bedroom furniture, upholstered, coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles, and TV stands, and other).
Outdoor, and office furniture (Desks and home office goods, lamps, recliners, rugs and outdoor furniture make up the rest of sales).
10. Start a Paper Bag Manufacturing business
A paper bag manufacturing business is another successful business that an investor may start in Portugal’s growing forestry industry.
It is common knowledge that paper bags are mostly utilized in the retail business.
Although nylon and plastic bags are often used, most people prefer paper bags for obvious reasons.
This demonstrates that there is a sizable demand for paper bags in our society, and as a result, a slew of investors have set up shop in the paper bag production sector.
11. Establish a Science Park
Science parks are a type of business that is growing popularity in Portugal, and you should consider creating one of your own.
Following the establishment and expansion of numerous science parks across the world, which have assisted in the establishment of thousands of scientific, technical, and knowledge-based enterprises, Portugal began the development of several science parks throughout the nation.
The Taguspark (in Oeiras), the Coimbra iParque (in Coimbra), the biocant (in Cantanhede), the Madeira Tecnopolo (in Funchal), the Sines Tecnopolo (in Sines), the Tecmaia (in Maia), and the Parkurbis (in Covilh) are other examples.
A wide range of services, ranging from financial and legal guidance to marketing and technological support, are available to companies who establish themselves in Portuguese scientific parks.
12. Start a Logging Company
The fact that Portugal has a strong forestry sector implies that a logging firm is almost certain to be successful in the Portuguese market.
Timber harvesting businesses are involved in a variety of activities such as tree cutting and skidding, on-site processing, and loading of trees or logs into trucks or skeletal cars.
These saw logs are subsequently sold to small businesses such as sawmills and pulp factories, among other enterprises.
Please keep in mind that beginning a logging firm needs a significant amount of startup cash, yet it is a very profitable endeavor.
As a result of the money necessary for the acquisition of logging equipment as well as the money required to get licenses and permits, it is a capital intensive industry.
13. Create an Advertising Agency
An advertising firm is yet another very profitable business that may be founded in Portugal and thrive.
Advertising campaigns are developed by a typical advertising agency for use in magazines, newspapers, radio, television, and other media platforms, such as social media.
Ad agencies provide guidance, creative services, account management, the creation of advertising campaign materials, and, of course, media planning and buying services such as ad placement and other similar services through internal capabilities or delegation.
You will assist your customer with the placement of advertising in magazines, newspapers, radio, television, and other media channels, among other things.
14. Start Equipment Leasing Business
An equipment leasing business is one of the types of companies that may be started and grown effectively in Portugal.
For people to complete the work at hand, they can hire a variety of tools and equipment.
mower, hand drillers and heavy-duty drillers; welding machines; forklifts; light construction equipment; medical; audiovisual; industrial energy; and theatrical and motion picture equipment; power saw; filling machine; scaffolding, amongst other types of equipment.
You must search for such equipment and guarantee that you have it on hand in your business, which is your duty.
15. Start a Sales Consulting cum Lead Generation Business
If you are a sales professional wanting to establish a sales-related business in Portugal, one of the choices available to you is to create a lead generating business.
The fact that everyone in business has a product or business to offer makes this a feasible and profitable line of business to be involved in.
Prospecting for new consumers is referred to as lead generation in marketing, and it refers to the process of implementing tactics that will assist you discover potential clients who are likely to be interested in your goods or services.
To put it another way, lead generation is the process of generating customer interest or enquiries about the products or services of a business.
Leads may be generated for a variety of objectives, including list building, e-newsletter list acquisition, and sales lead generation.
16. Start a Battery Manufacturing Facility
Portugal is rich in lithium subsoil, which is particularly concentrated in the districts of Guarda, Viseu, Vila Real, and Viana do Castelo, while the Gonçalo aplite-pegmatite area supplies the majority of the country’s lithium.
Grupo Mota operates the biggest lithium mine in Europe, Felmica, in the Guarda region, which is believed to have reserves for 30 years of production.
Prices for lithium have climbed in anticipation of increased demand for the mineral, which is used in batteries for electric vehicles and for storing electricity from the power grid.
This demonstrates that there are business prospects in the lithium market, which a prospective entrepreneur may capitalize on by establishing a battery factor.
In reality, Europe consumes more than 20% of the world supply of battery-grade lithium yet now imports all of its supplies of the material.
17. Copper Wire Manufacturing Business
Copper wire manufacture is a feasible and, of course, profitable business that can be launched in Portugal.
Portugal is a major European mineral producer, and it is one of Europe’s main copper producers.
Any business that wishes to start making copper wire will have simple access to raw copper.
To optimize earnings from this type of business, situate your factory near a copper mine and target foreign marketers who will assist you in exporting your products to other nations across the world.
18. Fishing Business
If you want to create a successful business in Portugal, one of your alternatives is to start a fishing business.
I mean fishing on the high seas when I say “fishing business.”
Portugal, traditionally a maritime power, has a strong heritage in the Portuguese fishing sector and is one of the countries with the greatest per capita fish consumption.
According to total landings in weight by year, the main landing locations in Portugal (including the Azores and Madeira) are the harbours of Matosinhos, Peniche, Olho, Sesimbra, Figueira da Foz, Sines, Portimo, and Madeira.
There is a global market for fish, and you may use it to create foreign money for your business.
19. Establish a Fish Processing Plant
Another great business to establish in Portugal, especially if you want to capitalize on the fishing sector, is a seafood processing facility.
Fish processing include canning, drying, or putting preservatives on fish to keep them fresher for longer.
Interestingly, Portuguese-processed fish products are exported through a variety of firms, including Ramirez, the world’s oldest operational canned fish factory.
20. Begin a Commercial Farming business
There are numerous business options accessible in Portugal’s agricultural industry, and one advantage of the industry is that all of its products have a market.
Commercial farming is all about mass production — growing crops in large quantities and raising animals, fish, and birds for profit. It is commonly referred to as mechanical farming.
sufficient Tomatoes, citrus, green vegetables, rice, corn, wheat, barley, olives, oilseeds, almonds, cherries, bilberry, table grapes, edible mushrooms, dairy products, poultry, and cattle are among the crops and livestock products produced in Portugal.
You can cultivate some or all of the above, and you can be confident that there will be a demand for your goods.