Africa
1. Real estate
Because of the increasing rate of rural-urban migration in developing countries, there is a proportionate increase in the demand for housing, land, and property in urban areas. Compared with what is obtainable in developed countries, starting a real estate business in any developing country requires less capital; and you will face less challenge on your journey to success.
2. Childcare center
Because of the need for mothers in developing countries to engage in a job or business in order to make ends meet, they usually have very busy schedules; which afford them very little time to care for their children. Childcare centers are becoming more popular in most developing countries, and mothers are gladly leaving their children in order to focus on their occupations.
If you love children and enjoy taking care of them, consider starting a childcare center in a developing country. Though the business is for women, being a man shouldn’t stop you if you would like to start one; as you will only need to hire some women to work for you.
3. Laundry service
Everyone, including those in developing countries love fashion and love to look good and neat. But busy work schedules won’t just avail most people the time for laundry. But they will gladly pay to have it handled for them. So, if you are looking to invest in a small business in a developing country, a laundry service is a very smart business idea to consider.
4. Foods and snacks
We all go hungry every day, and this explains why we must all eat to survive. The truth is that hunger doesn’t consider anyone’s pockets. So, even those who have very little money must spend part of it on food every day. This is why there is always a huge demand for foods and snacks.
If you have catering skills, you can convert them into cash in any developing country. Businesses that make and sell foods and snacks thrive well in any economy; whether recession or no recession.
5. Transport service
Aside food, transport is another necessity that people require every day. So, starting a transport service is a good way to make massive profits in a developing country. The methods of transport as well as the distance you will help people cover would depend on your capital.
If you have low capital, you can start a local or short-distance inter-state travel service. With bigger capital, you can offer cross-country road transport services, shipping services, or air transport services.
6. Freelancing agency
Another good way to make money in a developing country is to start a freelancing agency. This could be in various models. An example model is to set up a freelance writing or web development agency, which gets assignments from clients and then outsources to local professionals.
This model doesn’t require you to be very good at writing or web development yourself, but you must be good at winning projects. Professionals in developing countries charge very low prices compared with those in developed countries. So, you will make money simply by charging rates that apply in developing countries and having the projects done for much cheaper.
7. E-commerce
Most people in developing countries are becoming more aware of the convenience and security that e-commerce offers; and many are now buying the products they need over the internet.
However, due to the cost and technical intricacies involved in setting up an e-commerce business, many entrepreneurs in developing countries shy away from the idea, thus leaving the sector with very few players. You too can take advantage of the low competition.
8. Tutoring
Whether it’s an academic subject or special skill or vocation, you can make money from any knowledge you have by imparting it on others. Many developing countries have paralytic educational systems that leave students bereft of much of what they should know.
However, parents are willing to pay you to help their wards improve on their academics and complete what the schools couldn’t. So, you can make a lot of money tutoring students on their core school subjects. Similarly, you can make money by teaching any special skill you have; such as music, sports, martial arts, catering, and so on.
9. Repair services
If you are good at fixing devices or parts of mechanical equipment, you can make huge profits off of your skills. This is because it is often cheaper to repair faulty devices than to buy new ones. So, people would rather pay your cheaper rates than go for new items or devices.
10. Healthcare
Most developing countries have poor healthcare facilities and infrastructure. And the few available ones are just not enough to cater for the health needs of the huge population. So if you are a healthcare professional or a smart entrepreneur, you can make lots of profit by establishing a modern healthcare facility (hospital, pharmacy, etc) in a developing country.
1. Outsourced security services
If you have some professional experience in the security sector, then the good news is that there’s great potential in that industry than you ever imagined. Gone were the days when security only meant standing sternly in front of doors and behind red ropes.
Now, security has become a monstrous sprawling industry that covers anything that can come “under threat.” Security services range from personal security to business security. Even in hard economic times, there’s always a huge demand for these services.
2. Big data
By combining new technologies in the fields of cloud computing, social media, data management, and augmented reality, businesses are creating practical and useful products that help other firms grow. And this new industry is growing at a surprising rate. So, if you are an expert in online information and data management, you can start your “Big Data” consulting service, as the Big data industry is expected to be worth $50 billion by 2017.
3. Freelancing and contracting
Due to harsh economic factors, most businesses are finding it hard to keep up with placing a large number of staff on a monthly payroll. As a way to cut cost, businesses are now hiring professionals on a contract basis. This way, they will pay only per project and avoid the burden of a fixed monthly salary. If you are a professional in fields like accounting, law, copywriting, and so on, you will make a fortune by offering your services as a freelance professional.
4. Premium services
Most of the time, you will hear business experts saying that one of the easiest ways to break into the market is offer your products and services cheap. But in the present day UK, reality doesn’t agree – “cheap” is not necessarily the new normal.
Research has revealed that luxury products and services do well in the UK market even during hard economic times. So, if you want to launch a new business, a good idea is to target price-conscious customers while offering products or services that really deserve the “premium” label.”
5. Smartphone repairs
Since around half of the UK population now owns a smartphone, it goes without saying that a smart phone repair business would be very lucrative. And because each unit costs up to 600 pounds, people are reluctant to throw broken or faulty smartphones away. Instead, they’d adopt the cheaper option of repairing it.
If you have a knack for fixing faults, then you can quickly learn how to repair smartphones. The smartphone repair industry is still at an embryonic stage and you can realize real gains by entering early into this market.
6. Home improvement
Rather than change their homes or buy new apartments, people are now saving costs by converting loft spaces, landscaping gardens and knocking down walls to utilize more land space. So, there’s an increasing demand for landscape gardeners, kitchen-fitters, plasterers, plumbers, and builders. If you have any of these skills, now could be a great time to launch your own business and make more money.
7. Digital healthcare
The healthcare industry is now depending on the technology industry to provide cost-cutting solutions to various health demands. Digital healthcare involves the development of systems, analytical technologies, and smart devices that can help save lives by giving doctors quicker and more accurate information about patients. So, if you have been looking at starting a business in the technology or healthcare sector, consider exploring the next big thing — digital healthcare.
8. IT security
Due to high-profile hacking nightmares that had once hit companies like LinkedIn, Sony, and Evernote, companies and users of cloud-based services are taking all possible measures to protect their information.
According to major research house, Gartner, global spending on IT security in 2012 was $60 billion and this is expected to hit $86 billion in 2016. So, if you are an IT professional with good interpersonal skills, hone your skills and launch your IT security service. You will be sought after by individuals and businesses.
9. Foods and snacks
People eat every day, and this explains why any business that sells foods and snacks will most likely thrive even amid harsh economic conditions. A restaurant business is very easy to start, and it brings quick returns.
10. Career and business coaching
With the emergence of new economic trends, college graduates and aspiring entrepreneurs are torn between multiple career and business options. If you are very good at helping others analyze and choose foolproof options, you will make money by starting a career and business
