Are you looking for a small profitable business and investment ideas to start in Belgium? Belgium has one of the fastest developing economies in western Europe and across the globe. More business tycoons and investors are moving to Belgium to build and expand their business portfolios. As a rich and thriving economy, the Belgians are very accommodating and the environment is friendly and business-driven.
In this article, you will learn the 10 best profitable business ideas and investments you can set up in Belgium. But before we discuss that, let’s look at why you should invest in Belgium as a foreigner.
Why Should You Invest in Belgium?
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Belgium practices an open economy system, with no trade restrictions and it has an entrepreneurship-friendly environment. You are guaranteed a quick and highly competitive cost of setting up a new business.
As one of the world’s leading exporters, you can focus on building your business to target export trade. It doesn’t matter whether you are a foreigner or a local investor. As a country with no limits to foreign ownership or business control, you can invest as much as you can afford in the Austrian Netherlands – later called, Belgium. This is because government policies favor both local and foreign investors. The primary objective is to achieve sustainable development in the country.
The strategic geographic position of the country at the crossroads of the major European markets provides easy trade relations and connections. Belgium has one of the best telecommunication infrastructures in Europe.
Located in Western Europe, Belgium is home to Google’s largest European data center. According to the Prime Minister of Belgium, Charles Michel, “The digital world is constantly changing, and Belgium is becoming more and more attractive for big investors like Google.”
How about the transport and logistics systems and structures in Belgium? Well, the availability of world-class airports, railways, seaports, and inland ports including a good road network makes the country a great delight to foreign investors to thrive.
As a small European country with over 11 million people, it’s okay to say that the purchasing power is there. If you’ve always desired to start any business or investment idea in Belgium, now is the time to launch.
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What Are the Lucrative Business Ideas Foreigners and Local Investors Can Start in Belgium?
Starting a business is both exciting and challenging at the same time. And when your business destination is Belgium, several ideas and investments can create this effect. Below are the top 10 most profitable business ideas you should consider when planning to start a business in Belgium:
1. Start a Women’s Underwear Company
Women love attractive and quality underwear, especially Europeans. Here’s a staggering statistics to back up this claim. According to CBI, a Dutch government organization, the value of European women’s underwear imports is estimated at €6.5 billion, making it a relatively large apparel subsegment.
Irrespective of your gender, you can start a lingerie company in Belgium. All you need is your basic knowledge of female fashion choices. Next will be to find the right suppliers for the relevant materials and begin your designs and production. The business may attract high startup costs but you will be getting a good ROI if you do your homework well.
With a turnover of €195,3 million in 2021, Van de Velde Lingerie is one of the biggest manufacturers of luxury underwear in Belgium and of course, in Europe. For this family-owned company to have still remained in business even after 100 years shows that the industry is profitable.
2. Launch a Food Processing Company
A food processing company is a profitable business investment to start in Belgium. The country majors in importing semi-processed and semi-finished goods. Goods in the food categories can be further processed to produce innovative food varieties for the local market.
Before you can start a food processing business in Belgium, you must obtain a license from the Federal Agency for the Safety of the Food Chain by submitting an application. This license can only last for 3 years before you are required to renew it.
3. Start a Cosmetic Store (Online or Offline)
The skincare market size in Western Europe as of 2021 was $24.65 billion. The opportunities are there. Beauty never goes out of fashion. And for the cosmetic industry, it sells fast like wildfire. If you are experienced and passionate about beauty products, consider starting a brick-and-mortar cosmetic shop.
You may have an online store. However, make sure you stock trendy, quality, and skin-friendly products from top brands. Here’s a quick guide on how to start a beauty business on a budget.
4. Start a Tea Business
The Tea sector is a dynamic business in Belgium. According to Statista Market Forecast, the Belgian Tea market is projected to grow by 3.99%, from 2023 to 2025 resulting in a market volume of US$195.30m in 2025. This is impressive data for those who may want to start their profitable coffee business in Belgium using our recommended ideas. Residents of the country offer a booming market and a friendly business environment for your tea business to thrive.
5. Operate a Dairy Farm
Dairy farms are a popular business venture for Belgians. Foreigners can also invest in this business as it is lucrative and quite easy as well. About 537,246 dairy cows provide Belgian milk of high quality.
The organic cow feeds that help the animals reproduce well and stay healthy are readily available. There is also a skilled workforce and adequate support for dairy farmers.
6. Start a Horticulture Business
Horticulture is a hot cake business anyone can start to make money in Belgium. Since the French-speaking region, Flanders produces 90% of its production, interested investors can start their horticulture business in the region.
There are breeding programs available in the country to enrich your knowledge and provide professional skills to help you grow and start your horticulture business.
7. Start a Repair and Maintenance Business in Belgium
If you are technically inclined, building a business around your skill is a profitable idea. All you need is to adequate knowledge to satisfy your customers.
There is an available market for repair and maintenance in Belgium. The rewarding contracts in this line of business are common for electronics, automotive, and communication equipment.
8. Start a Customer Relationship Management Business
Various organizations, companies, and institutions in Belgium appreciate savvy means of building and maintaining customer relations. Therefore, developing good CRM software will help businesses keep track of their contacts and monitor their sales pipeline.
9. Start a Biotech Firm
The biotechnology industry is a big business opportunity. A biotechnology firm is one of the most lucrative business ideas in Belgium. Many of the world’s best biotech and pharmaceutical companies are choosing Belgium as their preferred destination. With over 140 Biotech companies in the country, your biotech services will flourish.
10. Start an Event Management Company
Events happen every time, from corporate launches to social gatherings; there are endless opportunities for event companies in Belgium. You can decide to focus on managing corporate events, or social events or become a general event management company.
On your event management website, you can share pictures and videos of the best places to host business conferences in Belgium. You can start with the major cities and why people should consider using these locations.
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Being a relatively small country with three major regions, Belgium can sometimes be a tough country to deal with. The three regions namely Flanders, Wallonia, and Brussels the capital speak different languages: Dutch, French and German respectively. This leaves foreigners to learn multiple business cultures in Belgium.
Foreigners, therefore, need to be very diplomatic in handling business issues and customer relations. Consider this language barrier as the major disadvantage of successfully deploying most business ideas in Belgium.