Investing Talks
Name: Ricardo Daniel Martins Costa
Age: 44
Country of birth: Portugal
Country/City of residence: Braga
Biographical note:
Ricardo Costa was born in Braga on 18 October 1978. He studied in Vila Nova de Famalicão, where he graduated in Industrial Engineering and Management in 2001, winning the prize for best internship project that year. Between 1998 and 2001 he was president of the Academic Association of the Lusíada University of Famalicão.
In 2011 he completed his International MBA at Católica Porto Business School and took up the position of CEO of the Bernardo da Costa Group. Today he is a director of several companies in the Group, in various areas of activity and with a presence in Portugal, Spain, Morocco, Italy, Brazil and Cameroon.
In 2016 he was appointed Braga's Business Ambassador and elected President of APSEI - the Portuguese Security Association.
As an active voice in defence of the economic, social and cultural development of the city of Braga, the Minho region and Portugal, in 2021 he was elected president of AEMinho - the Minho Business Association.
In 2023 he was appointed Honorary Consul by the Government of Kosovo, the youngest country in Europe.
He holds various advisory positions in the areas of higher education (IPCA - Polytechnic Institute of Cávado and Ave and University of Minho), economics (CIP - Business Confederation of Portugal), sport (ABC de Braga), social responsibility (Virar a Página - Cantina Solidária and Domus - Dignificar a Habitação) and publishing (MIT Technology Review Portugal and Lusofonia Digital).
With a strong presence on social media, being the most influential Portuguese on Linkedin, he has focused on defending humanised leadership and happiness at work, participating as a speaker at various conferences and events on this subject. The Bernardo da Costa Group was the first company in Portugal to create a Happiness Department.
Let's start our conversation by getting to know Ricardo Costa's story/path a little better: childhood, youth, first steps in his professional career, first dreams...
I was born in Braga on 18 October 1978. I studied in Vila Nova de Famalicão, where I graduated in Industrial Engineering and Management in 2001, winning the prize for best internship project that year. Between 1998 and 2001 I was president of the Academic Association of the Lusíada University of Famalicão.
In 2011 I completed my International MBA at Católica Porto Business School and took on the role of CEO of the Bernardo da Costa Group. Today I am a director of several companies in the Group, in various areas of activity and with a presence in Portugal, Spain, Morocco, Italy, Brazil and Cameroon.
In 2016 I was appointed Braga's Business Ambassador and elected President of APSEI - the Portuguese Security Association.
As an active voice in defence of the economic, social and cultural development of the city of Braga, the Minho region and Portugal, in 2021 I was elected president of AEMinho - the Minho Business Association.
In 2023 I was appointed Honorary Consul by the Government of Kosovo, which is the youngest country in Europe.
I hold various advisory positions in the areas of higher education (IPCA - Polytechnic Institute of Cávado and Ave and the University of Minho), economics (CIP - Business Confederation of Portugal), sport (ABC de Braga), social responsibility (Virar a Página - Cantina Solidária and Domus - Dignificar a Habitação) and publishing (MIT Technology Review Portugal and Lusofonia Digital).
With a strong presence on social media, being the most influential Portuguese on Linkedin, I have focused on defending humanised leadership and happiness at work, participating as a speaker at various conferences and events on this topic. The Bernardo da Costa Group was the first company in Portugal to create a Happiness Department.
How did the Bernardo da Costa Group come about?
It was 1857 when a young entrepreneur by the name of Bernardo da Costa opened his doors to the public to present the company "Electro Luz Avenida de Bernardo da Costa", based on Avenida Central (Braga). Since it was founded, Bernardo da Costa's aim has always been to serve and satisfy the needs of its customers. The company is dedicated to electrical installations to support the construction industry, as well as retailing electrical equipment, household appliances, lighting and motive power devices.
In December 1979, Bernardo da Costa extended his personal project to his children, and by public deed (19-12-1979) the company was renamed "Bernardo da Costa & Filhos, Lda", while retaining its headquarters. As the years went by and the services provided were recognised, friends, clients and suppliers grew, leading the company to take another step. It remodelled its founder's house, located in the parish of São Vítor, creating offices and a warehouse (1994) and acquired a warehouse in Adaúfe (2001). In November 2002 it became a public limited company with the name "Bernardo da Costa & Filhos S.A.".
Bernardo da Costa didn't just leave behind a company, he created a cultural heritage and family ties of which we are very proud. The following generations have continued all his work, which culminates in the various companies that make up the Bernardo da Costa Group today
"At the moment we are witnessing various transitions and changes, the most important of which are the energy/climate transition, the digital transition and everything to do with artificial intelligence. ."
What are the main services offered by the Group in its various areas of activity?
Today the Bernardo da Costa Group is made up of nine companies in a wide range of business areas:
- IBD (Distribution of Electronic Security Solutions in Portugal and Spain).
- Bernardo da Costa Academy (Training, in Portugal)
- ITM Global Portugal (Electrical Installations, in Portugal)
- A-Touch Winwel (Home Automation in Portugal)
- Global America (Distribution and Installation in Brazil)
- SGC Cameroun (Construction, Cameroon)
- AVPRO (Audio and Video Professional, in Portugal)
- BC Safety (PPE in Portugal)
- KuantoKusta (Comparator and MarketPlace, in Portugal)
How does the Bernardo da Costa Group deal with incorporating emerging technologies into the company's activities?
Dealing with the incorporation of emerging technologies requires careful planning and a strategic approach. It is an ongoing process and requires a commitment on the part of the company to adapt and evolve in tandem with the technological landscape. Some of the important steps are: Assessment of the company's needs, identifying how these technologies can improve efficiency, productivity, customer experience or open up new business opportunities.
Next, we research available technologies and set clear and realistic targets for their incorporation. It is also very important to train the team so that they are prepared to deal with the transformation process. Finally, we constantly monitor and evaluate the results, making adjustments whenever necessary. Bearing in mind that technology is constantly evolving, it is essential to keep up to date with the latest trends and innovations so that the company can remain competitive and innovative.
What are the main challenges facing the Group? What influence does the macroeconomic context of our country have and how has the global environment (pandemic, war in Europe, inflationary scenario) influenced the company's activity?
Portugal is following the main trends in the world. At the moment we are witnessing various transitions and changes, including: the energy/climate transition, the digital transition and everything to do with artificial intelligence.
I believe that Portugal, for the first time, could be in the group of countries that will lead these transformations. Its geographical location, its commitment to renewable energies, its fibre-optic connection to three continents, the quality of the institutions in our scientific and technological system, the resilience and entrepreneurial capacity of our businesspeople are some of the characteristics that lead me to have this feeling. A major challenge is attracting talent. On the one hand, attracting our young graduates to stay in Portugal and, on the other, given that we have a demographic problem, attracting talent from other countries.
We try to anticipate these challenges and transitions in the Bernardo da Costa Group, establishing strategies to have products/services that are in line with the transitions that are taking place. On the other hand, we benefit from a strong organisational culture, based on valuing and recognising people, which allows us to have a strong employer brand, facilitating the process of recruiting new talent.
How do you deal with competition in your markets? Or do you prefer to see the glass as half full and think of partners rather than competitors?
I have a lot of respect and admiration for the competition. On the one hand, it makes us work every day to be better, stimulating innovation, product/service improvement and the constant search for value. At the same time, it's healthy because it leads to fairer prices for consumers. For a country's economy, competition is key to promoting efficiency and productivity, boosting economic growth. Finally, it also encourages the creation of new businesses and job creation.
What are the main points analysed when you decide to apply for a particular project? Is more value placed on the project itself, or on the partner who invites you to carry it out?
Given the longevity of our business, more than 66 years, partnerships are essential. The first supplier of the company set up by my grandfather is still our supplier today. This shows that we value the quality of our partners, because we believe in long-lasting relationships that benefit both parties.
What about the commercial decision to close a new contract or not? Is the criterion purely profitability, or do factors such as the valuation of a given geography or the value of the client also have an influence?
Our strategy in this respect has never been to value profitability alone, but rather to think in the medium to long term. That's why criteria such as the value of the client, the relevance of the project, the impact on society, sustainability, etc. always have an influence on the decision whether or not to close a new contract/commercial agreement.
We know the importance you attach to human resources development in the Bernardo da Costa Group. Can you tell us about the impact these choices have on the Group's day-to-day operations? How do they materialise?
Companies are not made up of people... companies are people. This has been the motto of the Bernardo da Costa Group since 1957. More serious than training our people and them leaving the company is not training them and them staying. That's why our main focus is on training, empowering and developing our employees. That's also why, in 2011, we set up a Training Academy (Academia Bernardo da Costa) which, over the years, has left this legacy of knowledge to our people and to society in general. I truly believe that it is through education that we can improve the world.
How has the Bernardo da Costa Group managed the difficulty resulting from labour shortages in Portugal? Is it the same in other countries? What strategies do you advocate to deal with this problem?
Fortunately, in the vast majority of the Group's companies, we have had no difficulty in recruiting people. Whenever we open a recruitment process, there are many candidates who apply, and with great value. The fact that we have an organisational culture renowned for creating a healthy, safe environment, promoting health and happiness policies, helps enormously in this respect. This culture is transversal in all countries, so we are at ease in all the geographies in which we are present.
We know you're a constant presence on social media. What is your approach to business marketing and how important do you consider it to be to your company's performance?
Yes, I'm a regular user of social networks, especially Linkedin. Social networks offer a number of advantages for companies, allowing them to reach their audience efficiently. Some of the main advantages are: visibility and brand recognition, interactivity and engagement, target audience segmentation, cost-effectiveness and access to new markets. It is essential that companies have a solid strategy when using social networks, aligning their actions with business objectives and maintaining an authentic and relevant presence for the public.
What are your long-term plans for your career? Do you see yourself in the Bernardo da Costa Group for many years to come? Do you see this context of constant uncertainty as a problem or an opportunity?
I'm at a stage in my life where I don't make many plans in this area any more. This context of uncertainty is strong in the emergence of opportunities. They will certainly arise and I will consider each one at the appropriate time. I often say that I'd like to stop having executive functions in the Bernardo da Costa Group after the age of 50, let's see if I can achieve that goal.
How do you approach environmental sustainability in your projects? Do you think it's just a "fad" or is it something that is here to stay and will permanently influence the future of the sector?
I always prefer to talk about the concept of 360° sustainability: Economic, Social and Environmental. More than a fad, obligation or legal requirement, I believe in sustainability as a business model. I have no doubt that the environmental aspect is here to stay and will permanently influence the future of business. Whoever manages to find a business model that takes the environmental sustainability factor into account will surely be at the forefront of the energy/climate transition that is underway. Aspects such as environmental responsibility, brand reputation, cost reduction and efficiency, access to new markets and opportunities, attracting talent and compliance with regulations are just some of the advantages that companies that invest in sustainability will enjoy.
What was the most challenging project you've ever worked on and why? Would you like to share a specific aspect of that challenge?
The Bernardo da Costa Group's internationalisation project was one of the most challenging I've been involved in. The first country we decided to invest in, in 2009, was Mozambique. I made all kinds of mistakes there. Choosing people to lead the project, poorly analysing the barriers to entry, careless selection of local partners, the misconception that we could change the country's culture, etc. Fortunately, I was able to learn from these mistakes and in the following countries where we decided to undertake, as a result of this learning, we had much better results.
Associations are extremely important in various spheres of society, as they represent the union and cooperation between individuals or organisations with common interests. You are part of several different types of associations. How important are associations in your life?
Co-operation, as I've already mentioned, is one of the values of the Bernardo da Costa Group and one of the values that I defend the most as a citizen and businessman. As Pietro Ubaldi said - "Humanity's next evolutionary leap will be the discovery that co-operation is better than competition". For me, this is the main role of associations. To get companies and entrepreneurs to co-operate, so that together they can achieve more than each on their own. The same applies to people when it comes to civic movements or associations. That's why, ever since I was young, when I was President of the Academic Association of the Lusíada University of V.N. Famalicão, associativism has been part of my life. Today I'm President of AEMinho - Associação Empresarial do Minho (Minho Business Association) and I hold positions on the governing bodies of various associations. Always with the same goal: to make us stronger together.
Would you like to leave a message for stakeholders in the construction sector?
Portugal is following the main trends in the world. At the moment we are witnessing various transitions and changes, including: the energy/climate transition, the digital transition and everything to do with artificial intelligence.
I believe that Portugal, for the first time, could be in the group of countries that will lead these transformations. Its geographical location, its commitment to renewable energies, its fibre-optic connection to three continents, the quality of the institutions in our scientific and technological system, the resilience and entrepreneurial capacity of our businesspeople are some of the characteristics that lead me to have this feeling. A major challenge is attracting talent. On the one hand, attracting our young graduates to stay in Portugal and, on the other, given that we have a demographic problem, attracting talent from other countries.
The construction sector is and will continue to be impacted by these transitions and the challenge of attracting talent. It is up to the sector's entrepreneurs to define policies and strategies that are both in line with the ongoing transformations and anticipate the challenges related to labour shortages.
