Portugal emerged from a large and protracted economic crisis in which it concluded with prominence the European Union bailout program, IMF, in 2014. Currently, this country presents a politically and economically stable environment, starting to gain relevance for investors and entrepreneurs. Thus, the business opportunities in Portugal are expanding.
With 10.3 million inhabitants and a Gross Domestic Product of approximately US $ 217.6 billion, the Portuguese market is particularly appreciated due to its demand for diversity and modernization.
The most frequent industry areas in Portugal are tourism, technology services, agriculture, renewable energies and construction. That is, they present greater business opportunities for small businesses and startups.
Major cities most suitable for startups
According to Forbes magazine, Lisbon in 2017 was considered as the fourth best global city for startups. To make this index, several criteria were considered: quality of life, living costs, rent, the ease of starting a business, the cost of an office space and the monthly salary.
At the end of last year, Silicon Republic highlighted Portugal. In other words, he considered that Lisbon and Porto have one of thirty cities and most exciting startups hubs in Europe. They stated that Lisbon has a growing and prosperous scenario of startups. On the other hand, Porto is full of activities startups e scaleups and that quickly became an important European hub for entrepreneurship.
In November of last year, Braga joined the project “Startup Cities European Partnership”. The purpose of this is to bring together European cities to define new financial strategies and promote the growth of startups.
Currently, Lisbon was considered the 42nd best city for startups on a scale of 50 cities by Valuer.ai. For them, the main reason Lisbon is on this list is the help and support that the government provides. In other words, it constitutes a national network of technology centers and new companies through the initiative StartUP Voucher which gives more than 400 entrepreneurs a one-year scholarship to help their ventures.
Other important information on the growth of Portugal in this area is a report of Startup Europe Partnership de 2017. He found that the ecosystem of scaleup in our country it is growing rapidly, more specifically twice as fast compared to the European average. SEP also reported that these are spread across several sectors: corporate services, hospitality, business analysis, health, network and edutech, with no dominant specification.
Once identified the potential business opportunities in Portugal, the entrepreneur should seek more information about the Opening a new business in this country in order to facilitate business success.