A Startup for Startups: The Big Opportunity in Support Services

Jul 19, 2017 by

A Startup for Startups: The Big Opportunity in Support Services

The startup scene in Portugal keeps getting more and more interesting. Startups are entering new and exciting industries and markets at a rapid rate. The recent launch of Sports Accelerator is a good example of how the startup approach can be applied to a wide range of fields.

The rapid growth of startups in Portugal is sparking a new trend: startups whose products and services are geared towards helping other startups succeed. We have a number of these startups already operating on the market, with more scheduled to be released soon. Is the business support services industry the next big thing?

A Revamped Industry

The business support services industry is not an entirely new industry. This is an industry that has been around for years. However, service providers used to focus their offers and efforts on larger corporations with big demands to meet. Large clients were where most of the business came from, so it is not surprising that the entire industry chooses to focus on that market.

The rise of smaller, leaner startups that also need support services changed that. The lively startup scene in cities such as Lisbon attracted more service providers to the market. Instead of offering expensive support services geared towards larger corporations, service providers now cater to small companies that are trying to lower their overhead costs by outsourcing parts of their operations.

Planning and Management

What’s interesting about the growth of business support services in Portugal is how comprehensive the available services are. Startup founders can now rely on third-party service providers for anything from planning to bookkeeping and management.

We’re not talking about basic services either. An upcoming service provider is recruiting people with an advanced project and program management degree – graduates from reputable universities such as Brandeis University nonetheless –to better provide project management services to new startups. Having a team of experts witha masters in project and program management degree will help startups overcome common challenges in the product development process.

After all, overcoming challenges is what the support services industry all about. Instead of having to invest in recruiting experts, startups can remain lean and efficient thanks to third-party services. The overall costs of outsourcing parts of the business operations will also remain low.

The Next Big Thing

The business support services industry is filled with large players, particularly those with years of experience. That, however, is about to change. Smaller, more independent agencies and firms are starting to offer services in various fields. Larger organizations with experiences in offering their services to international startups such as Spark and Incubator are also starting to see the startup landscape in Portugal as a potential target market.

As more players enter the industry, more services will be made available at lower costs. The whole shift will further support startups in this country, offering valuable services at low costs and allowing startups to remain competitive for longer. There is a big opportunity in the business support services industry nonetheless, and it is a development that you wouldn’t want to miss.

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