Starting a Business in Austria

Austria is attractive not only to tourists but also to investors. The Republic is a member of the EU characterized by a well-developed economy and financial stability. The clean environment, accessible education, and medicine attract even more people from neighboring republics. Many decide to open a business in the state, and they do the right thing!

Austria's economic landscape is represented by:
  • services and tourism - more than 60% of the population's income;
  • industry and production of goods is about 35%;
  • about 2% are engaged in agriculture.

The agricultural sector is centered on the cultivation of grapes and grains and livestock farms. As for the industrial sector, ferrous metallurgy and non-ferrous metals are developed here. The biggest austrian companies are located in the capital and the city of Braunau.

Initial Steps to Starting a Business

It is essential to follow specific tactics and choose a place to build or rent so that it will bring a tangible income in the future. Before starting a business in Austria as a foreigner, it is advisable to thoroughly research the conditions for obtaining a registration number and processing company documents. An important step will be to choose a good lawyer for your promotion and the correct legal signing and certification of papers.

At the planning stage, you should visit the Chamber of Commerce and Industry (Wirtschaftskammer – WKO) for an appointment. The consultation is free of charge. The paperwork process begins with contacting the commercial register and submitting the documents.
During the first month of operation, the company must register an austria vat number with the tax office.

An important step is to choose a good lawyer. We can help you!

Business Ideas in Austria

The most popular form of organizing the rights to conduct business by law is the GmbH. Here are some business ideas in Austria that can help you start:

  • Restaurant or café.
  • Travel agency.
  • Manufacturing and selling goods: the country is known for its quality products such as watches, jewelry, chocolate, and wine.
  • IT company or startup.
  • Eco-business: Austria has a strong awareness of environmental protection and sustainable development.

The land-locked country transports goods abroad via convenient rail routes and establishes international markets.

Key Tips for Success in the Austrian Business Landscape

How to start a business in Austria?

Pay attention to cultural differences. Be polite and respect local customs and standards of behavior. Five key tips for starting your company:

  • Study demand and competition – identify your niche and determine what your competitors are doing.
  • Create a quality product or service: Austrian consumers value quality and reliability.
  • Be proactive and ready to propose new ideas and develop and adapt to changes in the market.
  • Participate in local networking events to meet other entrepreneurs and build connections.
  • Invest in advertising and marketing.

Following these tips increases your chances of success in the Austrian business environment. Good luck with your business! Contact one of our business registration consultants for more information.