The initial investment you should make is in seating that doubles as storage. This may take the form of benches that have a retractable lid, where you can store gardening tools, soil, BBQ utensils, and many other outdoor objects that take up a surprisingly large amount of space. If you don't care for seating, there are plenty of large trunks that can serve as an extra shelf for placing flower pots. Inside, you can stash your gardening hose or a compact circular grill. If needed, you can always remove the objects on top of the trunk and use it as a bench.
Seating can take the form of folding chairs. These can be easily placed away behind larger features or against the wall so that they do not take up space. There are plenty of chairs on the market that are foldable, as well as durable and attractive. For comfort, think about investing a linen or canvas backed chair. These can easily be machine-washer, and the fabrics are usually treated for water resistance.
If you have always wanted a container garden on your patio, consider investing in flowerpots that can be suspended from the ceiling or attached to walls or the balcony railing. These are not only attractive, but come in a variety of shapes, and can serve as a viable habitat for a variety of plant species. One thing to remember is that patio plants usually require much more frequent watering than plants grown in the ground. In order to save space that would otherwise be required for storing a bulky garden hose, consider purchasing a retractable gardening hose, which is made out of expandable and waterproof material. These can easily be folded and stored and serve the same purpose.
Also, if your small patio is uncovered and you want to create some shade, consider installing an awning. These are highly customizable and easy to install on your own. Further, they usually take up much less space than a bulky umbrella stand and outdoor umbrella.
Finally, if you have always wanted some sort of water feature such as a fountain or a pond, it is nonetheless possible in a small space. For example, you can set up a barrel pond using recycled barrels, which were once used to ferment alcohol. These can easily be made waterproof and serve as very attractive and rustic water features. You can easily install a water pump and enjoy the sound of bubbling water as you sit on your patio.
Find the way to maximize the usefulness of your space and you can enjoin your home more. A balcony or porch can be an extremely fun spot to hang out no matter what its size.