Top 10 new business ideas for Europe in 2022

European companies are affected by what is called the European single market. The single market has grown since the beginnings of the EU and has steadily become the digital single market. The European single market is described by academics such as “the establishment, within the EU, of a territory without internal borders or other regulatory obstacles to the free movement of goods and services”. The EU Digital Single Market is heavily regulated to enable commerce to operate in the online space. There are, however, some barriers to this trade, including “intellectual property rules, different rules for licensing content [and] geo-blocking. EU businesses must operate with full awareness of the regulations that affect their business. They must also be aware of the effect of the single market on the business itself.

1. Consider expanding to the United States

The United States offers a number of advantages to European businesses, including more favorable taxation for companies and individuals, as well as a less regulated business environment. The United States also offers its own massive market with a wealthy and large population. Moreover, the United States is attractive because of its centrality and influence in the global market.

2. Incorporate in the United States

Incorporating in the United States can be daunting, but it offers a large and stable economy and there are many types of business entities to choose from. The most common business entities are Limited Liability Companies or LLCs and S Corporations. Both of these types of companies offer limited liability asset protection to their owners or shareholders. This helps mitigate the risk associated with starting or expanding a business.

3. Get a US Registered Agent

Whether a business is an LLC or an S corporation, it will need a registered agent. This is a person or business that has received important documents from the state in which the business is incorporated. This is a legal requirement that can be done for a small fee by many US companies. A registered agent service is often recommended, as the registered agent must have an address other than a PO Box in the state of incorporation.

4. Learn more about DSA

The European Commission recently introduced two new laws which attempt to increase the security and transparency of the online space. The first of these laws is the Digital Services Act which primarily introduces legislation for companies that are online platforms or intermediaries. This includes app stores, social media sites, and e-commerce platforms. However, this is not an exhaustive list of companies affected by the law.

5. Learn more about DMA

The Digital Markets Act is the second law introduced by the European Commission and this law mainly affects online platforms which are the guardians of content. Gatekeeper platforms have systemic roles in their own markets and tend to function as a bottleneck between businesses and consumers. This bottleneck affects the delivery of essential consumer services. Some online platforms will have obligations under both laws, but it depends on the nature of the business.

6. Sustainability

Global warming forces companies to consider their environmental impact and how they can minimize it as much as possible. Consumers are increasingly interested in purchasing sustainable goods and services. This incentivizes companies to create sustainable products to deliver to their customers while mitigating the impact of global warming.

7. Digital Marketing

Digital marketing has never been more relevant for businesses than in 2022. Businesses need to have an active online presence to attract new customers and market effectively to their existing customers. This is especially true for young people, as they tend to only consume media using online platforms. One of the biggest avenues for digital marketing is social media.

8. Update cybersecurity

Although the online domain has many advantages for businesses, it also has potential security drawbacks. This includes the risk of data breaches and other forms of malicious cyber activity. It is important to be one step ahead of malicious actors and maintain strong cybersecurity systems to avoid becoming the target of a data breach.

9. Hybrid work

While the pandemic has opened the door to hybrid working, post-pandemic conditions have demonstrated its benefits even in a post-covid context. These benefits include reduced overhead, as office space is no longer a necessity. Many employees also prefer to work from home due to the flexibility this option provides.

10. Integrate AI

Integrating AI into a business can seem daunting, but there are a virtually limitless number of applications for AI in any type of business. AI systems can perform data analysis for businesses, which saves a lot of time and money. Effective use of AI and other technologies can also increase a company’s productivity and profitability.

Final Thoughts

There are many new business ideas for European companies in 2022. Some of these ideas see the United States as a place for European companies to expand given the favorable business climate of the nation and its states. Other ideas consider integrating technology and modern marketing strategies into the business to improve results. European businesses should also keep abreast of new legislation relating to activities in the online space, as this directly affects their business.

Mary I. Bruner