Portugal offers a wide range of entrepreneurship options for those seeking financial stability or wishing to invest in new businesses, which can start as a “side hustle” and expand into full-time professions.
The sectors are varied and if you are thinking about starting a business in Portugal, here are some innovative and profitable ideas that can help you get started on the right foot.
From healthy eating to event management, explore these suggestions to find the one that best aligns with your interests and goals.
TL;DR
- The highest paid professions in Portugal include sectors such as Information Technology, Engineering, Medicine and Law.
- Starting a business in Portugal can be highly profitable, especially in areas such as online services and tourism.
- There are several ways to generate extra income, including traffic management and selling infoproducts.
- The Portuguese market offers good opportunities for Brazilians, despite some adaptation and qualification challenges.
- Investing in sustainable businesses is becoming increasingly important and profitable in Portugal.
- Explore growing market niches such as healthy eating and technology.
- Take advantage of the growing demand for personalized services and digital solutions.
- Invest in “blue ocean” sectors with constant demand, such as IT, health and tourism.
- Consider e-commerce as a versatile platform with low initial cost.
- Understand local needs and adapt your business to meet these specificities.
1. Healthy and Vegan Eating
The growing concern for a healthier and more sustainable diet has boosted the vegan and natural food market in Portugal. A healthier diet and a reduction in meat consumption are clear trends in Portugal, especially among young generation Z, about to become the next generation of consumers.
This sector offers several business opportunities:
- Vegan or healthy eating restaurants
- Specialized catering services
- Production and sale of healthy frozen meals
- Offering personalized menus for athletes and people with specific diets
Recent Trend: The plant-based alternatives market in Portugal grew by 14% in 2023, reaching a value of €55 million, indicating continued strong demand in this sector.
2. Service Provision Companies
The flexibility and low need for initial investment make this sector attractive for entrepreneurs.
Since freelancer Even an established company, the possibilities are vast. For example, web design services including social media management and website maintenance, are highly sought after.
Furthermore, it can expand its services beyond the borders of Portugal, reaching the entire European Union.
Some promising areas include:
- Web design and social media management
- IT services and technical support
- Consulting in various areas (marketing, finance, HR)
- Translation and localization services
Update: With the rise of remote work, demand for online technical support and consulting services has grown by 30% in the last two years.
Other areas that can be explored include sewing and repair services for clothing and footwear or furniture renovation and reuse.
3. Specialized Recruitment
The demand for qualified professionals, especially in the areas of IT and healthcare, continues to rise in Portugal in 2024.
Opportunities in this sector include:
- Recruitment agencies specializing in IT
- Headhunting services for healthcare professionals
- Matching platforms between companies and freelancers
Recent data: The IT sector in Portugal recorded growth of 4.8% in 2023, creating more than 5,000 new jobs. Confirming a continuous growth trend, ensuring a safe long-term investment.
The demand for IT and healthcare professionals is constantly growing in Portugal.
Having a recruitment company specializing in these sectors can be extremely profitable.
These professionals are highly sought after and essential for the development and well-being of society.
4. E-commerce
Having an online store opens up a range of possibilities for selling products or services in a practical and accessible way. You can even start with dropshipping, thus not having the need to support your own inventory.
Since the pandemic, e-commerce has shown significant growth, becoming one of the most profitable areas in Portugal.
The key to success in e-commerce is to identify a market niche and offer products or services that stand out for their quality and originality.
E-commerce continues to grow rapidly in Portugal in 2024.
Opportunities in the e-commerce sector include:
- Niche product online stores
- Specialized marketplaces
- Dropshipping of innovative products
Updated statistic: Online sales in Portugal reached €10.5 billion in 2023, an increase of 15% compared to the previous year.
According to available data, the total value of e-commerce sales in the world last year (2023) was approximately $5.82 trillion dollars, global e-commerce sales. An increase of 10% compared to the previous year (2022).
5. Digital Solutions
The digital transformation of companies offers countless opportunities:
- Software and application development
- Digital Marketing Solutions
- Business process automation
- Digital transformation consultancy
Emerging Trend: The adoption of AI-based solutions by Portuguese companies increased by 40% in the last year.
Profitability in this sector arises because technology is present in almost all consumer routines and the provision of digital services modernizes sales and optimizes processes.
If you're not on the Internet, you're simply not in the world!
Why not start by creating your digital presence with a professional website?
6. Local Accommodation Management
You know those treats you receive when you stay in a Local Accommodation, like an AirBnB? They were very well prepared by a company that manages the place where it is located.
Since Portugal became one of the most popular tourist destinations in Europe and won the Safe Travels seal by the World Travel & Tourism Council, there is no denying that the tourism sector is, without a doubt, profitable!
A local accommodation management company requires a lot of work, but it can be rewarding, as a commission is generally charged for each reservation made at the property.
The services offered range from managing reservations and welcoming guests to cleaning and property maintenance services.
Larger cities, such as Lisbon and Porto, already have a somewhat saturated sector, but smaller cities still lack companies that provide good services.
Such services can even be provided without the need to have a large business structure.
Como freelancer, you can now start offering your services.
Tourism continues to be a strong sector in Portugal 2024, with opportunities in:
- Short-term rental property management
- Cleaning and maintenance services for local accommodation
- Personalized tourist experiences
Updated statistic: In 2023, Portugal received more than 30 million tourists, exceeding pre-pandemic levels and indicating a strong recovery in the sector.
7. Event Production
If you have a knack for organizing parties, seminars, lectures and other events, and are creative with an eye for detail, then starting an event management business could be an excellent choice for you.
Don't forget that we all need event organization, from individuals to large organizations. A market to explore!
To make your business profitable in Portugal with little investment, you can start by organizing birthday parties, weddings and even company get-togethers.
Use spaces like shops or warehouses and decorate them appropriately, taking advantage of your skills or those of a colleague.
Communicate your services effectively on social media and create a portfolio that demonstrates your talent.
Renting a property for events in Portugal can be an advantageous cost-benefit decision, depending on the city. Be sure to analyze prices by city to maximize your profits.
The events industry recovered strongly post-pandemic, with opportunities in:
- Organization of weddings and parties
- Corporate event management
- Production of virtual and hybrid events
News: The demand for sustainable and eco-friendly events increased by 25% last year in Portugal, creating a new niche in the market.
8. Renewable Energy and Sustainability
Portugal is leading the way in the renewable energy sector, having reached 61% of energy production from clean sources in 2023. This sector offers very interesting business opportunities:
- Installation and maintenance of solar panels
- Energy efficiency consultancy
- Development of innovative solutions for energy storage
Portugal has the potential to become an innovation “hub” in this sector, taking advantage of its accumulated experience and reputation. With billions of euros expected to be invested in the coming decades, there is plenty of room for the development of disruptive technologies, such as green hydrogen.
9. Educational Technology (EdTech)
The EdTech sector in Portugal is growing visibly, driven by the need to modernize education. Some opportunities in this area include:
- Development of online teaching platforms
- Creation of digital educational content
- Gamification solutions for learning
The EdTech Summit Portugal, held annually in Coimbra, is an example of the growing interest in this sector. The event brings together stakeholders from the field of Education and presents the most recent technological innovations applied to teaching.
Emerging Trend: The EdTech market in Portugal grew by 35% in 2023, driven by the adoption of hybrid teaching methods.
10. Digital Health and Wellbeing
With increasing awareness about the importance of balancing the digital world and well-being, interesting business opportunities arise:
- Development of health and fitness applications
- Telemedicine platforms
- Solutions to promote digital well-being
Digital Wellbeing Week, a recent initiative in Portugal, highlights the importance of this topic and creates a space for debate and innovation in this area.
Updated statistic: The use of telemedicine services in Portugal has increased by 150% in the last two years, indicating a rapidly expanding market.
