Do you stay in a developing country? Looking for profitable business ideas? Find here a list of the most profitable business ideas and opportunities for developing countries.
Generally, it is believed that third-world countries have fewer business opportunities. Moreover, initiating a business is tougher there. However, it’s not true anymore. Most developing countries have huge natural resources. Also, there are a lot of things to explore. In fact, since the market is yet to get saturated, exploring new businesses is easier here sometimes.
Actually, there are several parameters that quantify whether the country is developing or developed. Also, the HDI (human development index) is another parameter to assess. Generally, developing countries maintain less per capita GDP than developed countries. Some of the major developing countries are India, the Philippines, Argentina, Brazil, Malaysia, Mexico, Nigeria, and Russia.
Regardless you are a citizen of a developing country or want to invest there as an outsider, the below-listed business ideas will definitely help you in starting a venture there.
16 Business Ideas for Developing Countries
#1. Cash Crop Farming
Generally, agriculture is the most important segment in most third-world countries. And farming cash crops ensures better revenue than any other farming activity. So, if you want to earn money from the agriculture segment, you can consider investing money in cash crop farming.
#2. Computer Related Business
Generally, third world countries are the big market for computer-related products and services both. Some of the most profitable product-related businesses are selling computers and accessories, computer assembling, etc. Also, you can consider service-based businesses like computer training institutes, computer repairing, antivirus selling, etc.
#3. Construction Related Business
If you enjoy the outdoor activity, then you can consider initiating a construction-related business. In the present day, developing countries open up a good market for the construction business. Though it seems that initiating a construction business requires huge capital investment, there are some niche areas that you can explore with a small investment.
#4. Crafts Making & Selling
If you have a creative mind and you enjoy the home-based activity, then you can consider initiating a crafts business. As you start the business at home, it demands very less capital investment. Also, you can procure the crafts supplies from the local wholesale market or online.
#5. Distribution Business
As the population density is much higher in developing countries, you can start a distribution business successfully there. Some of the most profitable items are FMCG, food products, personal care products, chemicals, fresh fruits vegetables, etc.
#6. eCommerce Business
It is without saying, in the present day, developing countries are the emerging markets for eCommerce business. So, initiating an eCommerce business is highly profitable in third-world countries. When you have a short product list you can concentrate on selling products that have maximum profit for your customers.
#7. Fish Farming
This is another great opportunity for people staying in third-world countries. Also, you can find a lot of water bodies and every resource available for starting a fish farming business. In starting a profitable fish farming business you will need to have substantial financial resources with land and good quality water bodies.
#8. Healthcare Related Business
Practically, healthcare is a big issue in developing countries. And generally, people need to depend on private organizations in critical moments. So, the industry offers a wide range of product and service-based opportunities that you can develop with small and medium investments.
#9. Import Export Business
Actually, the import-export business is profitable in both developed and developing countries. Most developing countries export different types of products throughout the world. Depending on the resources available in your country, you can consider initiating a business in the foreign trade segment. Check the licensing issues very carefully.
#10. Small Scale Manufacturing Business
Small-scale manufacturing is the perfect opportunity in developing countries. And there are numerous products you can consider producing at a small unit. You can start a home-based manufacturing unit if you want to start with a low budget.
However, if you want to start as a full unit, a small-scale manufacturing business demands more upfront capital investment. It needs proper planning too. According to the market potential and available resources, select the product carefully.
#11. Recycling Business
While most people are aware of the effects of not recycling used materials, many more are not even aware that recycling can be a lucrative business. You must know the process of recycling the specific product that you want to recycle. and practically, you can earn a lot of money from this business.
#12. Retail Store
As the population density is very high in developing countries, the success rate of retail operation is also higher. Also, you can consider initiating a niche retail store with a small startup cost. Availability of better quality products, an improved supply chain, and a one-stop shop for varied choices of brands and products are the important aspects of a successful retail business.
#13. Travel Business
Generally, third-world countries are full of natural resources. And the countries are popular as travel destinations too. Most of the popular segments are adventure tourism, medical tourism, ecotourism, etc. So, if you are looking for a profitable opportunity in developing countries, you can consider initiating a travel-related business.
#14. Tutoring Service
If you enjoy teaching, then you can consider initiating a tutoring service business with practically zero investment. Even if you are engaged with a 9 to 5 job, then also you can start tutoring on a part-time basis.
If you have a crafty mind and you enjoy making things from wood, you can start a woodworking business even from home. In most of the third world countries, you can find a lot of variety of woods. So, the availability of the raw material is never a problem there.
#16. Real Estate Business
Real Estate is another industry that is growing at a fast pace in almost all developing countries. This industry is vast and can be started with large as well as with a nominal investment. If you are short on budget or do not want to invest much before testing water, a real estate agency or buying small land and selling at a higher price can be good options to make good money.
Initiating a business is easier in third-world countries than the developed countries. However, you must analyze the market and product potential before initiating a business in developing countries.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.