Developing countries are a perfect place for foreign investors. Such location’s are full of natural resources, manpower, huge market base. To start any business especially in developing countries you need good startup capital. Here are a few lucrative business ideas to start right now.
Sell used items.
Have you ever wondered what happens to your old electronic, cloths, and shoes? The second hand market is a million dollar industry in developing countries. This is especially so in West Africa and East Africa. Second hand shoes and cloths top the list of used items. Before you invest make sure the item is not prohibited or banned.
The developing world are one of the highest consumers of smartphones. China especially have found a huge market for Chinese made phones. You can sell both used and new phones without any difficulty.
Many third world countries are major producers of one crop or the next. Such crops are mostly ship to first world countries for processing. Running a produce processing company in this clime is very profitable. This is because there are very few processing plants. You only need to focus on popular products in the county of your choice.
Commodity export is a major part of third world countries. Farmer’s are mostly local small hold farms. Exporters can source products directly from them or use a trustworthy middleman. Popular exports in Ghana are yams while in Nigeria cashew, Cocoa and groundnuts.
Install solar panels
Solar Energy is getting popular in developing countries, however it use is not wide spread. Regular power supply is a major challenge, therefore alternative power is highly sort.
The early foreigners who invested in telecommunication in developing countries have made huge profit. The industry is highly regulated and capital intensive.
E-commerce is thriving in third world countries especially last year 2020. This was due to the the pandemic and movement restrictions. Many online stores had bumper sales hardly meeting demand. The beauty of an e-commerce store is the operator can work from anywhere, however they need a warehouse in the country of choice for fast delivery.
Express delivery service
With an increase in online stores comes high demand for express delivery service. A delivery service can operate motorcycle dispatch or van delivery service.
Automobile spare parts
Automobile spare parts is big business in countries like Nigeria. Although dominated by the easterners (Ibo people) there is room for foreign investors. It is best to find a partner already in the business and supply.
Real estate is big business in any country, especially in third world countries. You need huge capital, proper land documentation from state government like the certificate of occupancy. There are many land grabbers with fake documents therefore great care is needed in all transaction.
Why not setup a large farm and make tons of money. Farm lands are infinitely cheaper than urban lands. All an investor needs to is purchase or lease land, then go mechanized. For good yield purchase good quality grains.
You will make money if you start a travel agency. Many youths are desperate to leave their country to first world countries.
Online money lending has grown in recent years. This is because of banking inclusion of more teens.
There are many talented youths eager to master their preferred sports. Most local coaches are not exposed to modern training techniques, therefore opening the was for foreign coaches.
Garbage and waste collection
Garbage and waste collection is big business with their own small cartel. You need state government approval and designated routes.
There are very few Care centers for the fast growing population. You need an operation license, business plan, certification and tax.
With the growing economies there is a need for payment solutions. Develop both online and offline solutions. Payment solutions are usually regulated by the country’s Central Bank
Mass produced garments is the way to go. You can mass produce jeans, shirts and suits. Make sure you are granted permission to import raw materials you need or source locally.
Most third world countries have serious levels of unemployment, therefore running a recruitment agency is very lucrative. To succeed you need to network with both private and public companies.
Haulage business is capital intensive and profitable. You need to purchase the right trucks, hire drivers, join unions and secure operational license.
Medical equipment sales
Hospitals in developing countries do not have modern equipment. This is due to poor funding. However some private hospitals are better equipped. You can sell much needed equipment at a discount and make good money.
Whatever business you choose you should always know about its pros and cons. Apart from that, you should always have positive thinking and technical knowledge to handle every small aspect. If you can be successful in this then you will eventually lead a profitable business.
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