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Starting a business in Portugal
is relatively easy, though not maybe for the faint
hearted, even if you know the right steps to
follow and have run your own company in your country of
origin.
It is a
sad fact of life only a small percentage of
businesses in Portugal
created each year survive. And to ensure the success of
your future business it is imperative you carry out the
necessary checks, to ensure yours is one of that
small percentage which not only sees it through to the
following tax year, but thrives.
As in
any country carrying out market research surveys to
ensure your idea is sustainable is essential before
laying out any costs on overheads, company creation or
marketing, especially if you don't speak the language
fluently or have a customer database to fall back on.
New
businesses are inevitable difficult to get going and do
require immense amounts of effort from the owners not
only in the early stages, but throughout it's infancy
years. Therefore to run a successful
business in Portugal
it is essential you do your research and realise
immediately you are going to be working more than you
could ever imagine.
Some of
the major factors involved in companies failing in
Portugal and the rest of the world is
lack of market research. Starting a company in an over
saturated market or in area where there is little or no
need for the service or activity are the main factors in
a company failing.
Just
because you have a passion for a certain area or need to
earn an income does not automatically translate into a
healthy balance sheet and it is better to know this
before investing time, effort and money into a project
however demoralising it may be.
If you
are thinking of
starting a business or company in
Portugal think about the area in
which are going to be operating and what rules and
regulations are in force. Do you have the necessary
training, education and experience to outsell your
already established competitors?
Creating
a business plan is not only sound business advice, it is
imperative to see if your business idea is actually
commercially viable. Many businesses fail across Europe
due to lack of planning and if you don't wish to be a
statistic it's best to invest in the future with sound
advice and business planning either from your bank or an
qualified advisor in the field.
However
if you have carried out your market research and your
business plan stacks up you will no doubt be ready to
get started. But what kind of company do you form in
Portugal?
In
Portugal there are various structures
available to start a business, depending upon the size,
projected turnover and staffing levels, catering for
individual start ups through to public share holder
companies.
The most
commonly started business in Portugal is a
Sociedade por Quotas Limitada
(Private Limited Company) and suits those who wish to
run small to medium sized enterprises. If you are a sole
trader however and wish to run on a self employed basis
then there are also various structures in place to
accommodate.
In
Portugal there are various ways of
starting a company - as a however it is worthwhile
to know
running a
business in Portugal you will need to provide copies of
lots of paperwork and have to lodge monies as capital
within a company account.
In
Portugal should you is relatively easy to
start a business in
Portugal, however you should be warned you will have to
fill in an inordinate amount of paperwork and be asked
to lodge a certain amount of money to do create either a
limited company or as a sole trader. |
