For entrepreneurs who desire to launch their own businesses, Europe offers a wealth of attractive business options. Even foreigners can set up their own companies in Europe. Many of these business ideas require little seed capital and are easy to run from home. To get started, you need to understand:-
- The needs of European customers
- The best business opportunities in Europe
- How to succeed in Europe
1. EUROPEAN CUSTOMERS
If you want to run a profitable business, the first step is to know your customers. While cultures and preferences vary from country to country, there are some important issues to consider when starting a business in Europe.
a. Europeans are mainly urban
According to Eurostat, at least 75 percent of Europeans live in urban areas. This means that most Europeans work in an office, have disposable income and are constantly looking for ways to save time. You can even pick up your parcels from a parcel locker, making online shopping easier.
b. Europeans usually have small families
According to the World Bank, the average European family has 1.5 children. This has several implications for those who want to start a business.
- Families have higher incomes per child and are willing to invest in education
- A large part of the European workforce is made up of people from other countries
- Elderly care professionals are needed
c. Europeans are tech savvy
According to Statista, 91% of European households have internet access. Additionally, mobile internet usage accounts for his 49.19% of web traffic. So if you start an online business in Europe, optimizing your website for mobile devices and offering different language versions of your website can attract 715 million potential customers.
d. Europeans are environmentally conscious
According to a Yale and Columbia University study, the 10 most “green” countries in the world are all in Europe which includes the followings:-
2. EUROPEAN ECONOMY
The European continent consists of 44 countries, 27 of which are members of EU. Trade between European countries is frequent and relatively easy due to their short distance and small size. Europe (like most places) was primarily agricultural, but today’s Europe, especially Western Europe, is primarily based on a knowledge-based economy.
In order to set up an international company in Europe, you will need a VAT number to enable trading in the European Union, as well as the local tax number and business registration in each country where you do business. You usually need an office or home address in each country where you do business.
Operating an online store requires a secure global payment gateway and merchant services that include 24/7 customer support, fraud protection and charge mitigation.
3. EUROPE’S TOP BUSINESS IDEAS
Now let’s turn our attention to the main business opportunities in Europe. Most, if not all of these business ideas can be run as online businesses with the help of local employees.
a. Online clothing store
Selling clothing online is a great way to reach young people, the demographics most likely to shop for clothing on their desktops and smartphones. Most of the customers are young individuals and professionals with disposable income, but one should also target men, working mothers, children, teenagers, and mature adults.
i. Sports shop
According to World Health Organization statistics, over 50% of Europeans are overweight and over 20% are obese. As awareness of the importance of physical activity grows, Europe’s top business opportunity can capitalize on this trend by selling sportswear to health-conscious Europeans.
ii. Sustainable clothing store
As already mentioned, Europeans care about the planet. Unfortunately, most major clothing brands use unsustainable fabrics. You can launch your own Eco-wear brand to meet your needs for eco-friendly and fashionable clothing.
b. Food Company
Professionals in busy cities often don’t have much time to cook, especially when they’re in the office all day. This creates an opportunity for creative entrepreneurs to fill the void with food trucks and grocery stores where customers can order online. Remember you are serving health conscious and earth conscious people.
i. Meal Prep Shop
Prepare meals for singles, couples and families who don’t have time to cook for themselves. You can offer options from one meal a day to a weekly meal plan. Try to provide healthy, culturally appropriate and delicious meals in recyclable or biodegradable packaging.
ii. Healthy snacks and drinks.
Pros/ instructor, gym goers and families are always looking for healthy snacks. Selling locally made snacks and drinks makes the choice easier. Some of the most popular healthy snack categories include dry protein shakes and micronutrient powders for exercise, and biodegradable packed snacks for kids.
iii. Catering company
People always need dining services to accommodate their business and social events. They can specialize in a particular type of event, such as a wedding, or develop menus that can be adapted to events of all sizes and descriptions.
iv. Natural food
People who have time to cook appreciate reliable, clean, and organic food. Consider selling organic fruits and vegetables, grass-fed dairy, and free-range grass-fed meats. If you don’t produce the ingredients yourself, we can deliver mixed organic boxes directly to your customer’s home.
v. Supplements and herbs
Health consciousness is accompanied by a high demand for whole food supplements. Many Europeans prefer to use alternative products such as herbal remedies and essential oils alongside their traditional medicines, and selling these products can be a lucrative business.
c. Other products sold online
Many entrepreneurs start by selling products. In addition to the ones already stated, you can sell:
- Carpet
- Mattress
- Furniture
- Laptop accessories
- Electronics
- Eco-friendly products
- party supplies
- Pet accessories
- Subscription box for recurring billing
You may find that selling an existing product gives you the idea for your own brand business. If you do better than your competitors, you may be able to start a profitable business.
d. Virtual Service
Due to the COVID-19 pandemic and partying for convenience, many Europeans are looking for services available online. Though these business opportunities in Europe can technically come from anywhere in the world, local knowledge and speaking the local language are somewhat essential to providing the best possible service to your customers.
i. Virtual Doctor
E-health is becoming more and more popular as an alternative to going to a clinic. A virtual doctor can listen to patients, describe their symptoms and remedy for them to perform, as well as offer advice on simple topics such as baby care, nutrition, family planning, and elderly care.
*Persons providing eHealth services must be qualified and registered.
ii. Online Virtual Accountant
Running a business requires the use of financial services like accounting and bookkeeping. You can meet the demands of entrepreneurs by providing professional accounting, auditing, tax and bookkeeping services from the comfort of your home.
iii. Virtual Assistant
Busy professionals often need help with small tasks like researching a topic or making a phone call. If you work or study on a computer all day and at the same time can spare a few hours to help a professional, then becoming a virtual assistant is a good idea.
iv. Virtual Tutor
As mentioned earlier, European parents have smaller families and are willing to invest heavily in their children. You can meet the demand for enrichment and support by offering online and face-to-face classes, as well as private language tuition for adults, to European children and young people.
v. Career Coaching
Today’s professionals tend to change jobs more frequently than previous generations and are looking for fulfillment. You can train to become career coaches and offer virtual consultations to people across Europe.
vi. Event Planner
Europeans love to party and those who don’t have time to plan can hire an event planner. Start with a short course in event planning and build a network of complementary professionals such as photographers, caterers and decorators. Offer event packages online after that.
vii. Interpretation and Translation services
The necessity for translation and interpretation services is constant because of the enormous number of languages spoken in Europe and the close proximity of the various nations. The languages spoken by most people in Europe are the following:
- Russian (Native language for 140 million persons)
- German (Native language for 95 million persons)
- French (Native language for 90 million persons)
- Turkish (Native language for 78 million persons)
- Italian (Native language for 60 million persons)
- English (Native language for 60 million persons)
- Spanish (Native language for 43 million persons)
- Polish (Native language for 36 million persons)
- Ukrainian (Native language for 27 million persons)
- Dutch (Native language for 22 million persons)
e. Provide Ecommerce Services
Many businesses are participating in online marketplaces and need help to promote and grow their business. Businesses that can support the launch of online enterprises and increase their visibility in search engines are in great demand. Take into account the following options if you want to launch a new business:
- Market research
- SEO/content writing
- Website developer
- Online marketing
- PPC agency
- Social media
- Graphic design
- Data analyst
- Email automation
- Technical support
If you’ve been successful in any of these areas in the past, there will be a lot of demand for your skills. Create your website in your target European language and register your business with the right organizations.
f. Building a Platform or Building Software
Many businesses are participating in online marketplaces and need help to promote and grow their business. Customers always appreciate something local, or at least national, made in their own language and conforming to cultural norms. Stand up to the giants and offer a service your European customers will love.
- Establish a platform for online courses
- Establish new e-commerce platforms or online marketplaces
- Develop a programme for cyber security
- Develop a tool for planning keywords
- Develop an app for user reviews
- Build a time tracking app
g. Earn money as a YouTuber channel or blogger
When it comes to business opportunities, few people think about becoming a YouTuber or a blogger. However, in Europe and abroad, more and more people are trying to build their wealth in this way. To be successful as a YouTuber or blogger, you need to consistently produce high-quality written or video content that appeals to your niche audience. You can then earn money through advertising, affiliate marketing, guest posts and products.
Consider the following topics to turn your blog or YouTube channel into a profitable business.
- sponsored or independent product reviews;
- Information for pet owners
- Parenting Tips and Ideas
- Contains natural products
- Ideas for sustainable living
- home and garden ideas
- Survival skills
- Children Educational videos and activities
There is a wealth of text and video content in English today, but much less in other languages. If you can get into the top 10 most spoken languages in Europe, your potential customer base is huge.
4. STRIVE HARD TO SECURE THE CAREER OF YOUR DREAMS
The best business opportunities in Europe await you. If you are an aspiring entrepreneur or a worker or student looking to make some extra cash, consider the items on this list and choose the one that best fits your interests, skills and experience. please.
Remember that your small business must be registered and comply with e-commerce regulations in every European country you trade with before you can start making money. Then focus on building the best possible business, earning customer loyalty, and earning rewards.
