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THE BUSINESS CRISIS IN LISBON: CHALLENGES AND CHANGES IN 2024
Business is bad and weak.
We’ve spoken to neighboring businesses and they’re looking to close down. Last year, the streets still had some traffic, but now they’re dead, with no traffic or customers.
Some restaurants that last year were serving 120 meals a day are now serving 30 meals, and the restaurateurs are choosing to leave, to close down. The talk among restaurant operators is: who will stay in business in 2025?
Some comply with the notice to leave the restaurant for “X” number of months, move to another location to operate the restaurant, maintaining the operation and looking to transfer the business to the previous location. But, as the restaurant business is, those who remain hopeful are looking for smaller premises.
What I’ve seen isn’t just on the street; others are also having the same problems. Others have closed down, even though last year they had a lot of customers. As we have the same suppliers, we talk to each other and have a better idea of what’s happening – many are apprehensive about 2025, and others are handing over the keys – it’s over.
As an example, a restaurant of a certain size that used to sell around 170 meals is now selling around 80 meals, which means a very significant drop.
We’re going to fight on, to see what 2025 will be like. Several areas in Lisbon are becoming empty. The rich are doing well. If the rich spend 100, 110 or 120 euros on a meal, it won’t change their life at all – that’s the reality.
The restaurant business today is the restaurant business and, as an entrepreneurial evolution, the online business with another brand and another product, just for sale (not sale and delivery). The new strategy is not to cannibalize the existing business, but to use the existing resources: the kitchen, the staff, etc.
The year 2024 is one to forget. And there are other signs: the big suppliers who deliver to restaurants are looking to collect used packaging to reduce costs or due to low demand. They are reusing their own packaging.
The year 2024 seems to be at a standstill compared to 2023, neither selling more nor less.
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The Association of Residents and Entrepreneurs of Beato (AMEBEATO) is a non-profit association whose primary objective is to represent, promote and defend the interests of its members, both individuals and companies, with the mission of developing and promoting the socio-economic, sporting, environmental and cultural progress of the residents and entrepreneurs of the parish of Beato.
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