Expanding your business internationally is an exhilarating endeavor, and Portugal, with its strategic location, welcoming business environment, and stunning landscapes, is a compelling destination. For Cornish companies looking to spread their wings, Portugal offers a unique blend of opportunities and challenges.

To ensure your expansion is a resounding success, here’s a guide to making your move to Portugal smooth and profitable.

Forge Trusted Partnerships with Local Advisors

One of the first steps in internationalising your business is establishing trusted relationships with local advisors. Navigating a new market requires local knowledge and expertise, and in Portugal, this is no different.

Whether it’s legal counsel, tax advisors, or business consultants, local partners can provide invaluable insights and help you understand the nuances of the Portuguese market.

Start by seeking recommendations and getting referrals from other businesses that have successfully made the transition. A strong local network can significantly ease your entry into the market and help avoid common pitfalls.

 

Leverage the Power of Referrals

Referrals are gold in the business world, especially when entering a new market.

Tap into your existing network to find connections in Portugal. Attend industry events, join international business forums, and make use of online platforms like LinkedIn to connect with professionals who can offer introductions.

A warm introduction can open doors that might otherwise remain closed and provide a level of credibility that cold outreach cannot match. Remember, in Portugal, as in many places, who you know can be just as important as what you know.

Find a Mentor Who’s Been There, Done That

Having a mentor who has recently navigated the same path you are about to embark on can be a game-changer.

Look for someone who has experience in internationalising a business to Portugal. Their firsthand knowledge and experience can provide guidance, support, and practical advice that textbooks and online resources simply cannot offer.

A mentor can help you anticipate challenges, avoid mistakes, and capitalize on opportunities, providing a valuable sounding board for your plans and ideas.

Make Multiple Visits Before Committing

Visiting Portugal at least twice before making a commitment is crucial.

The first visit should be exploratory: get a feel for the local culture, business environment, and potential locations. Meet with potential partners, advisors, and clients to gauge the market and establish initial contacts.

The second visit should be more focused, allowing you to delve deeper into specifics, finalize partnerships, and start setting up your operations. These visits will not only provide a clearer picture of what to expect but also help you build a network and gain confidence in your decision. 

Connectivity via Newquay airport to the Algarve makes this really easy (March to September).

Set Clear Goals and Objectives

Before you dive into the Portuguese market, it’s essential to set clear, achievable goals.

What do you aim to accomplish with this expansion? Are you looking to increase sales, diversify your market, or leverage cost advantages? Having a clear vision will guide your strategy and ensure you stay focused on your objectives.

While Portugal’s great weather might be a perk, your business reasons should go beyond the superficial. A well-defined goal will help you measure your progress and make informed decisions along the way.

Look Beyond Short-term Gains

While the cost advantages of resourcing in Portugal can be attractive, it’s important to consider the long-term sustainability of your expansion. Price arbitrage might offer immediate benefits, but it’s unlikely to last forever.

Focus on building a business model that leverages Portugal’s strengths—be it access to European markets, a skilled workforce, or a favorable regulatory environment.

Ensure that your move is driven by long-term strategic goals rather than short-term cost savings.

What’s Next?

If you’re a Cornish company contemplating an expansion to Portugal, let’s talk!

From building local partnerships to finding the right mentor, I’m here to help you every step of the way. Contact me today, and let’s start planning your exciting journey to Portugal. 

Thanks to Falmouth Launchpad Futures there's funded professional support available to help you grow, along with other resources to make things a little easier on the journey.

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Internationalising your business to Portugal is a thrilling prospect that promises growth and new opportunities. By following these tips and maintaining a clear, strategic focus, you can ensure your expansion is not only successful but also sustainable in the long run.

Here’s to your success in the sunny and vibrant landscape of Portugal!