Many people would love to start their own business and in today's economic climate there are many who have no option but to generate income for themselves.   Here are some ideas to get you going.

Watch the news

Newspapers, magazines, online discussion forums, blogs and electronic newsletters are all fruitful sources of new and emerging trends and problems that need a solution. Scanning the small ads section of your local paper is a good way to get a feel for local patterns of supply and demand and you should also read the business opportunities sections in the national newspapers. Try the following resources as a starting point:

• Newspapers and media in Portugal Europe
• E-zines from around the world

Cash in on current trends

Also, many people have become suspicious of traditional medicine and are turning to traditional or complementary therapies instead.

Keep up with these and other current consumer trends by searching the retail websites. The website www.eighty20.co.za offers a free daily ‘Fact-a-day’ email with an interesting fact or statistic to get you thinking about what consumers need or want.

Copy business ideas that have succeeded elsewhere

For example, more and more people in Portugal are following international practices by adopting a more environmentally friendly lifestyle and eating healthier food, including organically grown produce. This has opened up opportunities for entrepreneurs in many fields. Portugal has focused attention on alternative power sources – such as solar power systems – which is creating additional business opportunities. 

Keep up with changes in the law

For example, the new Consumer Protection law requires businesses and government to communicate with consumers in plain, easy-to-understand language. This will create opportunities for people with language and communication skills to help with this daunting task.

Use all the research tools you can find

With many Portuguese citizens struggling against poverty, could you create a ‘social enterprise’ that earns a living for those involved, but fills a burning need in the community? If you belong to a community group already (church group, youth group, choir, sports team, etc), this could give you your starting point. You could consider a range of ideas: starting vegetable gardens, clearing litter, building playgrounds, starting sports teams, or starting musical bands and orchestras.

Talk to your local municipality about what civic groups can do, and where you could look for start-up funding and event on-going contracts from government agencies or funders.

For more ideas, go to the non-profit website for social inventions at www.globalideasbank.org.

Could you go freelance?

Consider re-training yourself

Cash in on the ‘time-poor’

Could you start a business that meets the needs of busy people who have little time available to themselves? All sorts of business ideas fall under this category, from simple ones such as dog walking and personal shopping through to fetching and carrying school-children between school, home and extra-mural activities.

Could you invent something?

Hints and tips

• This list is not definitive – it’s just a starting point to help you think about the opportunities available.
• Write down your ideas and research and organise your notes in a file. It will help you think things through systematically, and will form the basis of your business plan when you finally choose an idea.
• Your local business support agency might be able to help you assess your ideas for a business, but if they cannot perhaps speak to a business colleague who is successful and who you admire and respect they might be able to out you in touch with the right persons.
• Don’t be afraid to ask for help and where necessary be sure to get legal and financial advice.