The 8 Untapped Business Opportunities in South Africa of 2020
"Stop chasing the money and start chasing the passion." - Tony Hsieh
Best Business Opportunities in South Africa
21st century, the perception of working just to have money has been changed, people are now focused on their persona. The interest is now finding activities that feed passions, ways of living that cause a life to be worthwhile. This does not mean the trend now is to not study and just living in the moment, the career market is still a conventional way of making a living; it is not being passionate, being ineffective that affects.
Of course business is not the only way to succeed in life, but there is no doubt that it is one of the most unequivocal ways to become wealthy. Because of the high unemployment rates and not well paid jobs, there is a high percentage of people that are looking for lucrative startups to afford a living, although it is important to note that not everyone that wants to become an entrepreneur has the skills to be one.
South Africa is known as the powerhouse of Africa, it is the driving force with the most advanced, broad-based economy in the continent. Although there are several elements for expansion in the country which need special attention, as the image below shows, The World Bank and International Finance Corporation (IFC) ranked South Africa in the 82nd place in the world for ease of doing business.
Small businesses are recognized as key drivers of economic growth in this country, below you will find the main business opportunities in South Africa that could lead you to success.
What are the best business opportunities in South Africa?
Business Opportunities in ZA:
One of the key business opportunities in South Africa is having a business that educates. There are many talented people out there, the main problem is that people lack of experience and main skills. According to Central Connecticut State University, South Africa ranks 56th out of 60 countries for computer iliteracy 'and lack of education. Offer a product or service that helps improve the shortage of access to education within Africa could be very profitable in a long-term.
These are some of the easiest and best ways to start a business. While the field is very competitive, it is needless to say that not everyone can make it. It is crucial to prove themselves trustworthy to their clients, having a good record is about everything. And of course had a good business plan of the entire business strategy that will guide the company at all times. Keep it in mind!
3. Off-Grid Solar:
While many countries debate about the energy transition strategy for their countries, Africa is open for renewable energies, specially solar. Actually, the race to spread solar power across Africa is now a multi-billion-dollar industry that continues attracting entrepreneurs and investors from within and outside the continent. Massive demand. This is the reason because this is probably a really interesting business idea to invest in the South Africa region.
4. Healthcare Access:
As stated before, Africa is a poor continent, a very competitive sector is the healthcare sector, due to the fact that many people in South Africa (and other cities) , lack of easy access to healthcare. This sector is growing in a fast pace as pharmaceuticals have their eye on the African region.
It is important to say that Cape Town is a perfect place for business owners and investors to invest. The overall environment is conducive for the entrepreneur. People will not only get an established legacy to work on, but you also are economically benefitted. Another factor to take into account is that Cape Town is surrounded by oceans, this creates abounding opportunities to grab (not leaving aside the quality lifestyle in this part of the globe).
5. Laundry Services:
This is one way through which fast money can be made in South Africa. People in the business do not need to learn additional skills except for a few requirements. Depending on the financial capability, people can set up a laundry shop or carry out the business on a domestic basis. Wait.. why not have an APP that does both things? Take a sneak peak at the video below so to see the real thing
An environment for entrepreneurs creates more business, more noise in a city, more chaos, more meetings, more occasions to be tidy; this is why investing in hairdressing services is a great idea. And, it is not only because the city is growing and people need to look nice, it is also because hairdressing is never going to be over, everybody needs to cut their hair once in a while, they will never go "extinct". BUT this is why, if people will invest in these type of services, they should be innovative, there is so many competitors out there that if entrepreneurs do not focus on innovating, they will be stepped on.
Being able to write, edit, proofread or anything from this field is a skill that helps people earn money. The magic on writing is that there will always be demand for it, as well as editing and proofreading. With a good command in English proven communication skills, it would be easy to become an expert and earn money from it; as stated before, what could be better than earning money from your passion?
Last but not least. South Africa has a great landscape, there is much activity in the agricultural sector. People can grow and sell every-day products. What is needed is a great research on the market and its needs as well as focusing on increasing the fast-growing crops that are needed. Mainly vegetables and horticultural products have been known to be great income earners with a little capital needed.
There are many different types of business ideas to invest in with high profits, from farming to laundry franchises , there is a great potential in this country that has to be noticed and taken into account. The key to success is to follow your passion, work hard, and be open minded to have clear the opportunities and the markets needs.
"You have to be burning with an idea, or a problem, or a wrong that you want to right. If you're not passionate enough from the start, you'll never stick it out."
- Steve Jobs
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