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What Are the Best Business Opportunities in Europe?

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Best Business Opportunities in Europe

There are tons of great business opportunities in Europe for anyone wanting to go solo. You can even kick off your own business there as an outsider. A lot of these ideas don’t need much money to start and are super easy to handle right from home. To get going, you just need to know a few things:

The European Customer

If you’re looking to run a successful business, the first thing you gotta do is understand your customer. Even though people’s cultures and preferences can differ from one country to another, there are some key things to think about when starting a business in Europe.

Most Europeans live in cities. A study from Eurostat shows that about 75% of them are urban dwellers. This means lots of folks are in office jobs and have some money to spend. They’re always on the lookout for ways to save time. Plus, with the option to pick up packages from parcel lockers, online shopping becomes super convenient for them.

Europeans Typically Have Small Families

The World Bank says that the typical family in Europe has about 1.5 kids. This fact can mean a lot for anyone thinking about starting a business.

Europeans Are Tech-Savvy

Statista says that 91% of homes in Europe are online. Plus, nearly half of all web traffic comes from mobile devices. So if you want to kick off an online business in Europe, you could reach about 715 million potential customers by making your site mobile-friendly and offering it in different languages.

Europeans Are Environmentally Conscious

According to a study from Yale and Columbia universities, the top 10 “greenest” countries in the world are all in Europe. Here’s how they rank:

In a Forbes article, it points out that if you love nature, you also tend to care about living sustainably. So, it’s clear that the best business chances in Europe really need to focus on being environmentally friendly.

The European Economy

Europe is made up of 44 countries and 27 of them are part of the European Union. Because these countries are close together and not that big, trading between them is pretty straightforward. Although Europe used to be mostly about farming, nowadays—especially in Western Europe—it’s all about the knowledge economy.

If you want to kick off a business in Europe, you’ll need a VAT number which lets you trade within the EU. Plus, you’ll need a local tax number and to register your business in every country you plan to operate in. Often, you’ll have to have an office or a home address in each of those places where you’ll be doing business.

For running an online store, you’ll want to set up a secure global payment gateway and get merchant services that offer 24/7 customer support, help with fraud protection, and deal with chargebacks. Companies like Unicorn Group are a great choice in Europe, as they can help you figure out tax stuff and any other requirements for running a business internationally.

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Top Business Ideas in Europe

Now that we’ve gone over the basics let’s dive into some of the best business opportunities in Europe. Most of these ideas can run online with just a bit of support from local workers.

Online Clothing Store

Selling clothes online is a really good way to connect with young folks since they’re the ones most likely to shop for clothes on their computers or phones. While a lot of your customers will probably be young women who are students or working professionals with some cash to spare, don’t forget to also include men, working moms, kids, teens, and older adults too.

Food Businesses

City folks with packed schedules usually struggle to find time for cooking especially when they’re stuck at work all day. This opens up a chance for inventive entrepreneurs to step in with food trucks or businesses that allow people to place orders online. Just keep in mind that your customers care about their health and the environment, so make sure your food is tasty, wholesome, and eco-friendly.

Meal Prep Business

Cook up some tasty meals for busy singles couples and families who just don’t have the time to whip something up. You can provide choices ranging from just one meal a day to full week-long meal plans. Be sure to include a fun mix of healthy and culturally-friendly dishes packed in recyclable or biodegradable stuff.

Healthy Snacks and Drinks

People like professionals, gym lovers, and families are always on the hunt for healthy snacks. You can make it easier for them by offering locally made snacks and drinks. Some of the top choices for healthy snacks are dried protein shakes and micronutrient powders for workouts, along with kid-friendly snacks in eco-friendly packaging.

Catering Business

Folks are always on the lookout for food services to handle their business events and social gatherings. You might want to focus on a specific type of event like weddings or create menus that can be tweaked to fit all kinds of occasions, big or small.

Supplements and Herbs

With more people focusing on their health, there’s a growing interest in natural supplements. A lot of Europeans are into alternative products like herbal remedies and essential oils, using them alongside regular medicine. Selling these products could really turn into a profitable venture.

Other Products to Sell Online

A lot of entrepreneurs kick things off by selling products. Besides what we’ve talked about, you might also think about selling:

You might discover that selling stuff that’s already out there could spark an idea for your own brand. If you can offer something better than what others have, you could kick off a business that actually makes money.

Virtual Services

Because of the COVID-19 pandemic and just for the sake of ease, a lot of folks in Europe are now on the hunt for services they can access online. While these great business chances in Europe could be done from anywhere in the world, having local knowledge and being able to speak the local lingo is super important for giving your customers the best service possible.

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Virtual Accountant

Money stuff like bookkeeping and accounting is super important for any business. If you want to help out entrepreneurs, you can offer services like accounting, auditing, tax advice, and bookkeeping—all from the comfort of your own home.

Virtual Tutor

European parents usually keep their families small and they’re willing to spend a good amount of money on their kids. To meet the needs for extra help and enrichment, you can offer both online and in-person tutoring for kids and teens in Europe. Plus, private language classes for adults are a great option too.

Provide Ecommerce Services

These days, a lot of businesses are diving into the online marketplace but finding it tough to get the word out and grow. There’s a big need for folks who can help these online companies get started and show up better in search results. Here are some ideas if you’re thinking about starting a new business:

If you’ve had some wins in these areas before, there’s going to be a strong need for what you offer. Make sure to set up a website in the European languages you want to focus on and sign up your business with the right organization.

Start a YouTube Channel or Blog

When you think about making money, not too many folks think of being YouTubers or bloggers. But more and more people in Europe and beyond are finding ways to strike it rich this way. If you want to do well as a YouTuber or blogger, you’ve got to create good videos or written stuff that hits home with a specific crowd. Then, you can start earning by doing things like advertising, affiliate marketing, guest posts, and selling your own merch.

Consider these topics to make your blog or YouTube channel into a profitable business:

Right now, there’s a ton of written and video content out there in English, but not so much in other languages. If you can tap into the top 10 languages spoken across Europe, you could really expand your audience.

Work Hard and Make Your Dream Job a Reality

The best business chances in Europe are just waiting for you. If you’re an eager entrepreneur or maybe a student or worker looking to make some extra cash, check out this list and find the one that fits your skills and interests the best.

Keep in mind that you’ll need to register your small business in any European countries where you plan to operate and follow the ecommerce rules before you can start making money. After that, put your energy into creating a great business, win over your customers’ loyalty, and enjoy the rewards.

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