Business Ideas For Poor Countries: If you’re living in a poor country and want to start your own business, that isn’t always as easy as it sounds. Many developing nations don’t have the infrastructure or the human capital to support many businesses and, even if they do, there’s still all the red tape you have to deal with in terms of licensing, permits, and taxes.
Business Ideas For Poor Countries
Starting your own business in an underdeveloped nation can be extremely difficult — but also extremely rewarding if you manage to pull it off! To give yourself the best shot at success, follow these ten business ideas for poor countries.
1) Manufacturing
Most of us are familiar with manufacturing; it involves producing products and assembling them from raw materials. The first thought that might come to mind is industry jobs in third-world countries, which is only partially true. Manufacturing can take place anywhere and in any setting, whether at home or on a larger scale in a factory or workshop.
This business idea can be successful as long as you have access to materials, a process, and someone interested in buying your finished products! Be careful when starting out because manufacturing can require specialized tools; even if you’re not planning on selling what you make, being able to mass-produce your product will save time and money.
Examples: leather goods (e.g., purses), candles, soap, clothes, furniture have an eBay store where I list my handmade crafts..(not yet though) I’ve actually been designing things for about 4 years now. It’s more of a hobby than anything but it’s grown into something serious lol. Don’t expect to get rich fast though bc it takes a lot of work & $$$$ Just saying so u don’t give up lol But yeah.
I really like making pretty wigs, jewelry, and clothes ^_^ Idk if u like crafting but whatever you want to do try doing it while online shopping is available because they’ll deliver right to ur doorstep & If there’s anything wrong then they’ll correct it quickly.
2) Services
One great business idea for poor countries is to start a local service company that helps people with their needs. For example, you could start a service called Five Minute Gardener where you mow lawns and tend to gardens in 5-minute increments. This would be perfect for people who work all day and don’t have time to garden or maintain their yard.
You could also offer other services like pet walking, house cleaning, etc. The key here is that it should be something that many people in your country are in need of but may not have time or resources to do themselves. These types of businesses can often make good money if they can keep costs low while providing value. If there aren’t already many competitors, you could stand out by creating some kind of niche market and putting effort into branding/marketing yourself well enough so that people remember your business.
When they need an extra set of hands to get things done around their home (something you can charge them a premium price for). Don’t forget though that these types of businesses require more physical labor so if you’re in an area where there are lower-income levels then those potential customers might not be able to afford high-quality workers at any price point.
3) Creative industries
Creative industries are growing quickly in developing countries and can be excellent business ideas for poor countries. If you’re trying to help build a sustainable economy in a country without one, consider opening a creative industry that is local-centric, such as manufacturing hand-crafted goods that use traditional methods, woodwork, or metalwork.
When possible, try to set up shop in areas with rising tourism so you can provide your products and services to tourists during their travels. Online businesses are also booming around the world and have proven great ways to create wealth in disadvantaged regions. If there is electricity available (or at least reliable access) give creating an online business a try!
There are many platforms that allow entrepreneurs to start web-based businesses very easily. See our guides on How To Start An Online Store On Etsy And How To Start A Profitable Dropshipping Store On Shopify. Lastly, always do your research when starting a new business. Make sure it’s viable in the region you want to open it and avoid cultural taboos or preconceived notions regarding certain products or services.
The best way to find out about how people live is by talking directly with them–and if you’re interested in starting a business but don’t feel like it’s practical right now, volunteer locally first! Your skills may be just what they need.
4) Agriculture and fisheries
The greatest opportunities in developing economies are going to be in fields related to agriculture and fisheries. Cheap labor can make these industries very profitable, but it’s not just a matter of hiring cheap labor; businesses need to think about maximizing profits from their workforce by minimizing costs associated with payroll, production, and distribution.
For example, people interested in starting an agricultural business might be surprised at how much money can be saved by purchasing equipment that doesn’t require skilled operators—like tractors or drip irrigation systems. To take advantage of fishing opportunities, consider pursuing non-food commodities that are valued elsewhere. Examples include whale meat (Japan), shark fins (Asia), and sea cucumbers (China).
You won’t necessarily save money on each catch, but you will be able to create new markets and sell into new demographics. The big three industries: When creating jobs in poorer countries, entrepreneurs should start by focusing on mining, manufacturing, and food services—which have historically been known as the big three because they have provided millions of jobs around the world over time.
At first glance, manufacturing may seem like an unlikely choice because many companies have automated their factories so they only employ a handful of workers.
5) Tourism
The tourism industry is worth more than a trillion dollars worldwide, and it’s one of those industries that could allow you to make money while getting some sun. Whether you know how to surf or not, there are plenty of jobs in travel. Searching tourism jobs on sites like Upwork will give you a bunch of opportunities to find work as a tour guide, concierge, etc.
Or find out what types of work companies in that industry need done and put your own spin on it—such as online marketing. For example, good SEO skills will be valuable as an SEO specialist in tourism—and are relatively easy to learn. You can also just become a tourist yourself by taking off to somewhere new; if you want to live in Bali for three months, knock yourself out. Just don’t forget the sunscreen!
6) Education
In recent years, many poor countries have seen a boom in private-sector growth—and it’s in these areas that you can find entrepreneurial opportunities. Due to widespread illiteracy and a lack of formal education, one way you can capitalize on market gaps is by providing basic educational services to people who otherwise wouldn’t be able to get them.
While very few ideas will fit all circumstances, if your business model relies on even basic literacy, then there’s ample opportunity in less developed nations. If you look at it logically, there are plenty of markets like this that could use your skills.
7) Community initiatives
The next time you find yourself thinking about how you can get more involved in your community, don’t just limit yourself to big initiatives. Even if you can only manage to donate a little bit of money or time, it all adds up and makes a difference. You don’t have to start large; in fact, starting small is often better because it shows that you care enough about your community to commit even a small amount of resources.
There are many local organizations that need help and would love to have you volunteer; check with local schools or call your city’s non-profit organizations about opportunities in your area. And, as we mentioned above, donating money is another way to get involved locally—check out non-profits in need from Charity Navigator. They also offer specific donation ideas on their website.
And, if you’re feeling creative, consider organizing a fundraising event or volunteering your skills to promote their mission. Whatever you choose to do, though, keep it manageable so that it doesn’t interfere with your job responsibilities. Another option: consider partnering with others in your community on larger ventures.
8) Politics
The 2012 election season has left a sour taste in many people’s mouths. Unfortunately, most of us will have to slog through one more presidential race before our economy is ready to get back on track. The good news is that we don’t need a political upheaval to turn around.
Small business owners can still do everything they can to make their businesses more efficient and productive. That will lead to new job opportunities and a stronger economy, which is really all that matters at the end of the day.
Here are 10 ways you can create jobs and grow your business right now (1) Produce locally; (2) Buy local; (3) Spend locally; (4) Donate locally; (5) Invest locally; (6) Innovate locally; (7) Get noticed online ;(8) Find new customers online ;(9) Take care of your team.
These steps aren’t going to deliver overnight success but by taking them seriously—and continually improving upon them—you’ll help instill sustainable growth into communities nationwide.
9) Finance & Technology
Many poor countries are rapidly embracing technology, offering up a variety of business opportunities. For example, Bangladesh has partnered with Grameen Phone to build and install mobile networks, helping villages expand their service area while growing profits and creating jobs.
Another excellent venture is mPedigree, a company that helps consumers verify medicine authenticity in developing nations; they have already helped keep thousands of counterfeit medications out of developing countries. In addition to targeting international markets, there are plenty of local projects you can work on as well: many poorer communities lack access to water and electricity, both essential services.
If you’re looking to get involved in charitable efforts or help spread technology across a nation—both key startup ideas—consider starting a program in your area or simply donating time or money towards one already started. As an added bonus, getting involved may net you some tax credits!
10) Energy, Natural Resources & Construction
People in developing countries are often far removed from electricity grids and city services, but they do have something that many of us in developed nations don’t: plenty of suns, wind, and water. You can use these natural resources to power businesses and help people rise out of poverty.
In Peru, you could make a business out of collecting solar energy by installing solar panels on rooftops throughout Lima. To get started, you might start with a crowd-funding campaign or visit government programs like USAID’s Development Innovation Ventures.
And wherever you go, check to see if other countries have exported clean-energy jobs to your region: The United States Agency for International Development has a good list here. Among its best ideas?
Also Read: Top 7 Business Ideas For The Medical Field
Conclusion
With that, we bring to a close our list of 10 business ideas for poor countries. We hope you enjoyed them. What are your favorite business ideas? Please let us know in the comments below! And if you think others will enjoy these ideas, please share them using social media or some other means. Thank you and good luck building businesses.
