Autonomy, flexible working hours and the ability to do what skype phone number data love professionally are the main advantages of having your own business in Portugal. On the other hand, initial investment, bureaucracy and financial uncertainty may be the most obvious disadvantages. Find out more about the advantages and disadvantages of having your own business .
Working for yourself: what to do to get started?
You already have an idea of the activity you want to develop and have already decided to work for yourself in Portugal. But now, what should you do? We have listed some steps to help you start your business:
1. Choose the Legal Form
Are you going to work as a freelancer or as a sole trader ? Both have several advantages and disadvantages that you should carefully consider before working for yourself.
2. Analyze the Market
Study the business area you are going to start, analyze the competition, identify the target audience for your services or products and their consumption habits.
3. Make a Financial Plan
Draw up a plan for your business that allows you to quickly identify the costs and other amounts you need to start (consider saving money to be prepared in case of unforeseen events).
4. Manage your time well
Managing your time is extremely important for any professional, but it is essential for those who want to work for themselves. Find a balance between your professional and family life and learn to delegate tasks and responsibilities. Invest in training so that you always have the best tools on the market to implement in your business.
5. Comply with Legal Obligations Find out about the legal obligations relating to your type of business, thus avoiding tax problems. Below we mention the taxes and tax obligations that you should take into account when working for yourself.
Working for Yourself: What are the Taxes and Tax Obligations?
As we have already mentioned, bureaucracy is greater when you have your own business. Therefore, it is very important to be aware of all the steps you must follow with regard to Finance and Social Security.
