Eager to do business in Europe? Well, for 2020, the top three fastest-growing companies in Europe are in the financial technology and mainline technology industries. As reported by the Financial Times, Oaknorth Bank, Wolt Enterprises, and Bolt Technology took the first to third spots, respectively, in the most recent survey of firms experiencing a boom in the continent.
Oaknorth Bank is known for leveraging high technology platforms to offer its lending services to mostly lower midmarket businesses not just in Europe but in other parts of the world. It posted a remarkable 621.5 percent growth rate this year. Wolt Enterprises is a technology firm that caters to the online food delivery industry with a network of at least 10,000 restaurants in more than 70 cities. Bolt Technology, for its part, is also an online tech platform that connects customers to food delivery services and cars-for-hire including scooters.
However, for those who are not in the finance and technology business, rest assured that there are many other opportunities in Europe to explore. While London is still considered the financial and business capital of the continent, make sure not to miss out on the space for growth in the three countries of Italy, France, and Portugal.
Italy
For real estate, Naples is certainly one of the most interesting places to consider as a base for a new business. Late 2019, industry players rejoiced after seeing a 15 percent uptake in real estate projects and sales in the city and nearby regions. Even third-party contractors saw the boom in the need for additional services to include concrete resurfacing, interior design, and landscaping.
Wealthy foreign buyers and investors have been scooping up seaside properties along the Amalfi coast. However, the city architecture and history of Naples itself still makes the urban properties a very good investment. From flats to frescoes, to glorious 18th-century homes with wide courtyards, and even modern condominiums can be found in Naples for a home collector in love with architecture and for those who want a passive income from the property to let.
France
Skip Paris and head straight to Megève to look for stand-alone cottages or chalets with multiple bedrooms. In that location, there are seasons when tourists and locals flock to the town and go on a mad dash to book rooms and houses, especially when the nearby hotels can no longer accommodate additional guests.
Megève, by the way, is a ski resort village in the French Alps and the location of Tour de France. It the center of town, one can walk along cobbled streets amidst rustic homes and shops that feature local products as well as global luxury brands.
Establishing a business there need not necessarily about real estate, as well. There is still room for coffee shops, restaurants, and even bicycles for those who are into Tour de France. While there are a handful of museums in town, there is still a need for a special section dedicated to the world-famous bicycle race. Why not a fusion of a bicycle race-themed restaurant with a special gallery about the race that passes through the same town? The gallery could even feature other countries included in the race path.
Portugal
But if your investment appetite is really in the arena of real estate, the town of Porto in Portugal is also another good bet. The coastal city is now seeing an increased demand for housing and commercial property. It might be a good time to scout the place for good deals since owning property in this Baroque-style town promises the romance of the Old World in tandem with the convenience of modern amenities.
As a tourist town, it has a bustling nightlife and has a great historic character with its cobblestone streets and wine cellars that will always be a delight to visit. Porto is also famous for its scenic boat tours and gastronomic creations in the many restaurants and pubs that line the city streets. Whether one wants to list a purchased property on Airbnb or be converted into a self-managed tourist inn, an investment in Porto will always yield good returns. No wonder, people keep flocking to this Portuguese town and make the best use of the so-called Golden Visa for Non-Residents or those who are not from Europe.
Doing Business in Europe
Right now, Europe and the rest of the world places its highest priority on protecting public health. The European Union had already set aside funding to help support small businesses especially those in the tourism sector that have felt the impact of the global pandemic. More than 100 Million Euros are expected to be released to provide financial relief to people, companies, and most especially seasonal workers that have been displaced.
Yet despite it all, there is a renewed sense of hope and energy in Europe. The business community is eager to come back, stronger, and more resilient than ever before. The great opportunity is that in the midst of the public health crisis, new avenues for business and investments are opening all throughout Europe. For the intrepid entrepreneurs and brave investors, wealth is waiting in Italy, France, Portugal, and in other parts of this historic continent.
