Entrepreneurs face many challenges while expanding their business. This primarily happens because of language barriers, cultural differences, new markets, laws, etc.
However, Portugal is one of the most popular countries that welcomes entrepreneurs from all over the world. It also packs many benefits with picturesque landscapes, affordable paychecks, and much more.
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So, if you plan to expand your business to Portugal, here are some things to know…
1. Understand the Portuguese Culture
To expand and grow your business in Portugal, you must first understand their Culture. This is because their Culture plays a major role in their business interactions.
The Portuguese prioritize personal connections the most. They easily embrace international business practices but expect foreigners to show minimal respect for their work culture.
This includes punctuality, openness to small talk before talking business, and patience for lengthy negotiations,
So, you must foster trust with local clients, employees, and partners. If you understand and embrace their Culture, this can happen much more easily.
2. Learn Portuguese
Since the Portuguese love to welcome new businesses on their lands, the topmost professionals are always fluent in English. If you do business with the topmost companies, there won’t be any language barriers.
However, the same doesn’t hold for local vendors, clients, customers, etc. If you hire workers from Portugal, there is an even lower chance of all-knowing English.
So, learning Portuguese and seamlessly blending in with the locals is important. This will also show your eagerness to expand there and attract more customers and clients because they can understand you.
3. Learn about their laws
Portuguese business laws are different and complex from those in your home country. So, to ensure you don’t step into major trouble because of a lack of knowledge, learn their laws while you’re in your native land.
Know all laws and regulations by heart before you step into the country. This will help you bypass legal troubles later!
4. Get the paperwork or visa done
If you’re an EU citizen, the steps are simple: simply sign up for taxes and get a registration certificate.
However, if you’re a non-EU resident and want to establish, develop, or expand your business in Portugal, connect with Portugal relocation services.
Prepare a solid business plan that describes the objectives of your venture, its feasibility, and the probable economic impact on Portugal itself.
Depending on the entire business and stay plans, they’ll lead you through all the paperwork, and you’ll get the right visa in no time!
Besides that, while you apply for the visa, if you’re still not well-versed in Portuguese, seek an accountant to help you handle the legal papers.
📖 Recommended Reading: If you’re looking for more useful information, check out How Many Types of Visa Are Available in Portugal?
5. Network like a boss
Once you get the visa and establish your business in Portugal, you must network without prejudice or inhibition. Join all corporate meetings and gatherings whenever you get the opportunity.
After all, it’s said that over 95% of professionals believe that in-person meetings are important for a thriving business!
Besides that, attend local festivals and events, join community drives, and engage with like-minded people. Build personal relationships with the locals. Since they value connections, you will eventually get on their good side.
This will help you embrace their Culture and traditions and be one of them. It will help you gain their trust while doing business and even get many benefits.
6. Be respectful of the bureaucracy
Portuguese companies have strict bureaucratic systems. Here, decisions are made through established hierarchies.
The greatest “issue” non-Portugals find with such structures is slow decision-making processes and response to change. Some even call their system inflexible.
However, this is all to maintain a good order. So, don’t rebel against bureaucracy or pass rude comments. Otherwise, your venture may go to waste because of a lack of respect.
7. Know and behave well around the hierarchy
Portuguese work culture adheres a lot to the hierarchy. So, learn to respect everyone and address others based on their hierarchy. This will make your business interactions much smoother.
They’ll know you’re well-read about and practicing their Culture. A great impression will push you toward success!
8. Focus on your region
Portugal is a vast place with various regional differences. So, don’t try to learn everything at once regarding all regions. Otherwise, you will mess up big time. So, focus mainly on the regions you want to expand.
It doesn’t harm to learn about the entire nation. But prioritize one area at a time – their language, Culture, or more.
9. Customize your products and services
Ensure your products and services cater to the needs of the Portuguese market and customers. Research the needs of your target market.
The same goes when you provide customer service. Treat your customers how Portugal companies treat them. This depends a lot on their Culture. So, study to provide the best!
With cultural sensitivity, flexibility, patience, and commitment, your business will shine in the new market. Practice these steps, and your business will grow in Portugal in no time!
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Last Updated on January 16, 2024