The food industry is a vast, global network of diverse enterprises that produces the vast majority of the world’s food. The term “food industries” refers to a collection of industrial activities that include food production, distribution, processing, conversion, preparation, preservation, transportation, certification, and packaging. The food business has evolved into a highly diversified industry, with manufacturing ranging from small, labor-intensive, family-run operations to huge, capital-intensive, highly mechanized industrial processes. Many food-related enterprises are nearly wholly reliant on local agriculture, vegetables, and fishing.
In 2020, the food and beverage industry was Latvia’s second-largest industrial sector, accounting for roughly 21% of overall manufacturing production. The food processing sector employs approximately 1280 enterprises and registered private traders.
Opening a restaurant
In many ways, Latvia is now a developing country with a lot of business potential thanks to its favorable geographic location. Opening a restaurant in Latvia is a wise decision that might pay out handsomely. It is, however, critical to be fully educated about all pertinent aspects and hazards.
Hundreds of thousands of tourists visit the country each year, and they enjoy themselves just as much as the residents do, especially in restaurants, pubs, and cafes. It’s no surprise, then, that the restaurant industry is one of the most popular and profitable sectors of the Latvian economy.
The first step in starting a restaurant business is to find a location. Construction has increased across the country in recent years, so finding the correct property should not be too difficult. You must first choose what type of property you require and where it will be located. Then, to ensure the success of your organization in Latvia, you’ll need to buy or rent the appropriate premises.
If you do it yourself, this process can take many months, but some consultants can assist you and save you time and money.
It is necessary to register your corporation while starting a business.
You’ll also need to open one or more Latvian bank accounts.
Preparing the required documentation is a crucial step. To open your firm, you must obtain all necessary rights and licenses, and you must be cautious and well-prepared in your approach; otherwise, you may find that it costs you more time and resources. It can take a few months or even longer if you have no prior experience with this procedure.
Each country has its own set of unique problems when it comes to starting, growing, and maintaining a business. Owners, financiers, and investors must face these issues with the help of an experienced and educated legal team. Only someone with a thorough understanding of local and international corporate law will be able to start a business in another country while avoiding the traps that plague many new businesses.
You must register with three different departments in Latvia:
- State Revenue Service (VID);
- Local Health Department (PVD);
- Department of Buildings (Būvvalde).
In addition, you’ll need the following licenses and certificates:
- A license for food safety;
- A license to sell alcoholic beverages;
- A certificate of water quality;
- A certificate of fire safety;
- Certificate of workplace safety;
- Permission to use recorded music;
- A HACCP certificate is required.
HACCP is a self-monitored food processing safety system that includes:
- Examining the food chain for potential dangers;
- Identifying potential contamination types and sources during the food production process;
- Conducting a food risk assessment and analysis.
If your business requires a terrace or a signboard, you will need to consult with and obtain authorization from the local authorities.