Business in Portugal Part 1

Undertaking in Portugal

Situation in Portugal

Portugal is undoubtedly one of the European countries that have stood out the most in the area of entrepreneurship.

Many giant companies like Google, Vodafone and Volkswagen, or even Startups like DefinedCrowd, Sword Health and Jscrambler, are already developing their business in Portugal.

The reasons for choosing Portugal as a destination are many, but we can highlight the following:

Stable climate

Safe environment

Excellent infrastructure to develop business

Incentive policies for business development

European Union member country

Low cost of living

High-quality public health

We can classify Portugal as a small country with a developed structure.

Vodafone Portugal

Regarding the structure, we can emphasize, for example, the quality of the internet in Portugal, being one of the fastest in the world.

In 2020, the country is in 22nd position among 176 countries analyzed, with an average download speed of 105.78 Megabits per second (Mbps), with the average internet speed between the countries evaluated at 37.71 Mbps.

In addition to the internet, which is essential for the successful development of an enterprise these days, Portuguese cities have been developing spaces for the establishment of new companies.

In these areas, essential services are provided for business and employee benefits.

In this sense, according to a report by PEGN magazine:

“In addition to bringing together, diverse communities of startups, innovation centres and coworking offices played an essential role in the revitalization of urban spaces in the city (Lisbon). This is the case with projects such as Beta-i and Lacs, dedicated to digital businesses and entrepreneurs of the creative economy."

Another spot is the Hub Criativo do Beato, a 35,000 square meter innovation centre that is being installed in an old industrial area. Network places also include Lispolis, a technology park that promotes collaboration between researchers, startups and companies”

As highlighted by the StartupHub Portal, on August 5, 2020, Portugal houses 1,803 registered Startups, 153 incubators and accelerators and 50 investor companies. Not bad for a country of just over 90,000 km².

In other words, Portugal has excellent conditions for residence in addition to an outstanding structure for the development of business at a reduced cost.

Source Vitor Queiroz VIV Europe