Are you an entrepreneur or investor? Do you need information on the best business ideas & investment opportunities in Bangladesh for 2018? Then I advice you read on.
Bangladesh happens to be the 8th most populous country in the world with a population that is well over 160 Million. It is located in the southern eastern part of Asia and is bordered by Burma, India and Nepal. The capital city and seat of power of Bangladesh is called Dhaka and its official language is Bengali, with English also widely spoken in the country. It’s important to state that Bangladesh is among the most densely populated countries in the world.
The economy of Bangladesh is a progressive one and it is considered to be among the next eleven emerging economies in the world. It is a fact that Bangladesh is the birth place of microfinance banking with credit to the Noble Peace Prize winner Muhammad Yunus. The economy of Bangladesh revolves basically around the exportation of textile and garments, seafood, jute and fish.
Agriculture is an important contributor to the economy of Bangladesh and the country is rated as one the largest cultivator and exporter of agriculture products such as; banana, mango, potato, tropical fruits, onion, rice, tea, fish, jute, pineapple amongst others.
The Government of Bangladesh is doing all they can to encourage foreign investors; hence the establishment of several export processing zones. If you intend to come into Bangladesh as a social entrepreneur, then you may be coming into a safer environment because the country has a vibrant social enterprise sector and it is noted as one of the most efficient production/manufacturing hub in the world.
Now let us run through some of the business opportunities that are available to investors heading to Bangladesh.
1. Food Processing Company
The food processing sector in Bangladesh is indeed a thriving industry simply because of the cheap labor and cheap raw materials that are available in the country. If you are an accredited investor and are looking for a place to establish a profitable company, then you should consider establishing a food processing company in Bangladesh because of all the positives you stand to gain.
2. Rice Farming
If you are game with farming as an investor, then you may want to consider giving rice farming a shot! Bangladesh is one of the largest producers and exporter of rice globally and the market is still very much open for new investors. If you mean serious business, you should not only engage in rice farming, you should also be involved in rice processing, bagging and exportation as these are ways to generate more profit.
3. Textile and Garment Manufacturing
No doubt Bangladesh is recognized globally as one of the leaders when it comes to the production of textile and garments. This is so because the country can boast of cheap and vibrant labor and also cheap raw materials. Some big – time textile manufacturing companies in developed countries have their textile and garment factory established in Bangladesh because of cost effectiveness. So, even if you don’t intend to live in Bangladesh as an investor, you can consider establishing your own textile and manufacturing company there and you will be sure to continue to reap good returns on your investment.
4. Open a Micro – Finance Bank
Bangladesh is the birth place of micro financing and if you choose to establish your own micro – finance bank, then rest assured that you would sure make profits, because the business concept is well understood and accepted by its citizens. If you intend establishing your own micro finance bank in Bangladesh, you would be required to have certain financial base and pay an amount before you can be granted a license operate.
5. Fruits Plantation
Bangladesh is highly suitable for the cultivation of crops such as banana, mango, tropical fruits, and pineapple amongst others. If you establish your own fruits plantation, you would not only have to supply to the local markets but also to international markets. Bangladesh is one of the largest exporters of tropical fruits simply because it is cheaper compared to what you can get from other countries.
6. Seafood and Fish Business
Another highly thriving business you can establish in Bangladesh is seafood and fish business. With a population of over 160 million people, you can be sure of loads of people patronizing you and if you choose to go into exportation, there will also be a large international market waiting for you.
7. Freight Forwarding Business
Most of the goods produced in Bangladesh are exported to the rest of the world hence a very thriving Freight forwarding industry. All you would need to do to enter into this line of business is to register your company, obtain your operational license from the government, get a good location for your office and then market your services to companies that are into the production of goods.
8. Tea Production Company
The soil composition and climatic condition in Bangladesh is highly suitable for the cultivation of tea. So, if you are thinking of a business to establish in Bangladesh, then you should consider starting your own tea production company. The good thing about this kind of business is that you might not only have the over 160 million people in Bangladesh as your target market, but also the rest of the world. It is a viable business and you won’t have to struggle to market your tea to the global market especially if it is well packaged and branded.
9. Barbing Salon
If you know how to give a good hair cut and you are looking for a business that requires low capital to start in Bangladesh, then you should consider establishing your own barbing salon. All you would need to get started are; a shop, one or more clippers, a big wall mirror, a small power generator, supplies of powder, after shaves, amongst others. Once you rent a shop in any part of town in Bangladesh, you are sure to have loads of people trooping to your barbing salon even without advert.
10. Water Refill Station
Good and portable water is a major requirement by many household and even offices in Bangladesh. If you are looking towards establishing your own business in Bangladesh, then you should consider starting a Water Refill Station. It is indeed a profitable venture.
These are some of the highly profitable and easy to start businesses in Bangladesh. It is important to point that one of the major challenges entrepreneurs face in Bangladesh is power; so if you intend establishing your own business in Bangladesh, then you should create a budget for power generating sets.