Small Business Ideas In Africa
It is important to understand that there is no shortage of business opportunities in Africa. Investing in a business in Africa when it is well thought out gives a higher percentage of return and can scale really fast as most markets are not saturated and there is hardly any competition.
As Entrepreneurs, we are investors and as a result need to think as such. While looking for fair return on our investment, we must think creatively and find innovative relevant solutions to the needs of people in our communities.
Below we have suggestions for a wide range of business opportunities that one can invest in and their key success factors when considering whther of not to invest. If you are investing in a sector where you have even more insight, do not hesitate to add your comments.
The business opportunities listed totally depend on your ability and capacity. As you grow yourself and your organisation it can move from a micro business to small, large and even to a global business. There are no limits to what you can achieve with your small business as long as you are ready to learn and take action.
A business opportunity consists of four closely interrelated areas that need to be met within the window of opportunity in a region. The key areas that determine whether or not a business opportunity is feasible are:
- Market demand (there is a gap or need in the market) that is not currently fulfilled; sometimes people are aware of the need and talk about sometimes they are not because hey do not know there is a better way
- A strong means of fulfilling that need; feasibility in the targeted market. This is where your creativity as an entrepreneur comes in. If you create a business that follows the same model as everyone, the same factors that affect them will affect you. You need to think beyond this and while not throwing away the baby with the water build a model that takes advantage of market opportunities while protecting yourself from the risks as much as you can.
- Economic benefit or good return for the investment made; pricing is crucial. You don't want to steal from your clients but you also do not want to be a charity. People should pay a fair price for a good product / service. And often they do wherever you are in the world.
- Supportive network in industry; these help you open doors beyond your current limitation when there's a need.
Key To Good Business Opportunities In Africa
The combination of how the key areas (or elements) are combined determine the success of a business. The more unique the better the returns for the entrepreneur. Overall the more control and expertise an entrepreneur has over these areas the more successful they are likely to be. It is also important to note taking any business online when effectively executed gives it wings as the market potential has no borders except those set by oneself and legislation.
In Africa, there are numerous business opportunities since none of the sectors is fully developed or saturated. It is the continual assessment of individuals in different communities to meet the needs of their community that will result in more and more business opportunities in the different markets for themselves.
Advanced Engineering; Agriculture, Horticulture & Fisheries; Business & Consumer Services; Chemicals; Construction; Creative & Media; Defence & Security; Education & Training; Energy; Environment & Water; Financial & Professional Services; Food & Drink; Global Sports Projects; ICT; Leisure & Tourism; Life Sciences; Marine; Mass Transport
Academic & Freelance Writing Services
Accounting & Book Keeping Services
Art; Prints, Paintings, Wood Carvings, Iron Sculptures, Mirror Art
Baby Business; Food, Clothing, Education & Toys
Barber & Saloon
Building Material Supplies and Services
Career and Personal Coach
Chicken / Poultry Farm
Christmas Decorations & Ornaments
Computer repair and VAS Business
Entertainer; Artist, Musician, Puppeteer, Comedian or Poet
Event Rentals; Games, Crockery, Tents and Furniture
Event and Party Planning
Events Master of Ceremony
Exports; Approved Products
Frozen Yoghurt Shop
Fruits Salad Kiosk / Parlour
Graphic Design and Digital Printing
Gym and Wellness CentreHair Products; Wigs & Weaves
Home Business Ideas
Imports; Cars, Shoes, Clothes, Jewellery, Machinery and Industrial Chemicals
Internet Marketing Consulting
Laundry / Cleaning Services (online portal)
Leather Business; Processing of Leather Items
Mobile Money Outlet
Mobile Toilet Rentals
Motor Vehicle Towing Services
Movie Making Business
Movie Shop Business
Natural Home remedies
Oil And Gas
Online Marketing Consultant
Online Market Places
Photography & Video Services
Photo Gift and Promotional Items; Mugs and Plates
Public Relations Agency
Real Estate Development
Second Hand Clothes / Flee Market
Security Guard Company
Skin Care Products
Silk Warm Farming
Steam Cleaning and Upholstery Service
Tailoring; Designer Household Items
Tailoring; Bespoke Clothing
Taxi and Transport
Venture Capital Broker
Water Supply Services
Web Design, Hosting And Internet Solutions