Like every country, Pakistan’s economy is no less complex. There are growing industries as well as some suffering due to the politics in the government. Though there are still a lot of new business ideas for people in Pakistan. There is no lack of skills and talent here.
If you’re planning to invest in any industry that could be profitable to you and make your business successful. With every business there comes advantages and disadvantages which you need to keep in mind, before investing.
Here are 8 ideas for the most successful businesses in Pakistan.
1) Information Technology
If you’re one of those who have knowledge about information technology. This is a good idea for you to invest in. IT is evolving really well in Pakistan. It’s a huge achievement that foreign technology genius brands such as Google, PayPal, Ali baba and Amazon are trying to invest in IT markets of Pakistan. This is a really good opportunity for local entrepreneurs to make their businesses successful.
2) Trading (Import and Export)
People in Pakistan have the benefit over other Asian countries because of its sea port in Gwadar. It is gradually expanding and giving more opportunity for trade to come in and go out from Pakistan from abroad via sea. You can make your business successful by investing in either import or export products, or even both. Once the Gwadar port is fully functioning, it would give easier access to the Middle East and Europe.
3) Retail Industry
As per the census, Pakistan’s population is growing rapidly. You can invest in either becoming a retail brand or an online retail selling marketplace. This would make your business a success because the need for retail is growing day by day. Ever since the pandemic, the online store sales have skyrocketed profits. It is not a difficult process to become an online retailer in Pakistan. There might be some technicalities. However, now is the best time to invest in this industry. We’re currently living in 2021, where the retail business is flourishing like never before.
4) Solar Energy Production Company
As per research, it shows that the solar industry is definitely witnessing growth. In the beginning, you can start developing solar energy for local communities and areas by setting up a few panels.
You can invest in buying the panels at cheaper rates from China. Once you’re capable of selling enough of the solar energy produced, you can most likely invest in bigger land. And, place the panels to expand your solar energy production company. You can even sell this energy to residential people or areas on a per kilowatt ratio. Before investing, keep in mind how you will be able to maintain and clean the solar panels, because this will help your solar energy business succeed. Remember, you won’t get the profits immediately, but in the long run, this is the new age and more and more people will show interest in your business.
5) Local Tourism Company
Many people from abroad have begun to show interest in Pakistan’s northern areas and even exploring the whole of Pakistan. This industry is growing rapidly as now political and war-related tensions over lands are gone. As an industry that is blooming day by day, this is a great idea to invest in.
What comes to your mind when you hear about local tourism? The main attractions of the north of course.
You can invest in a tourism company which will be designed to provide the best local experience to the tourists, in exchange for a fee. You can either start a simple website or create a social media account or accounts. But first, take a trip around Pakistan, yourself. This will help you analyze the cost and figures of taking groups on tours on different routes.
You need to get in touch with local drivers who are experienced to drive up and down from the mountains or to the roads leading to Hunza. By hiring such drivers, buying or renting coasters and making sure you have contacts in local hotels for your guests to stay in. Your business will be successful if you handle it tactfully and give your clients local trips that they will remember for the rest of their lives.
6) Mental Health Education Service
Mental health issues are becoming more common or per say, coming into light. Education on this is an important need for Pakistan and the people in it. Many young people suffer from stress, anxiety, depression and other mental illnesses.
A good thing for this investment is that the mental health topic is becoming less of a taboo now. You can start by developing a mental health program that can be taught to various groups. Or hire a team of trained and highly qualified therapists and either have a clinic or provide mental health services online.