Opportunistic people are always in look out for good opportunities they can capitalize on. Especially, in the business field, dynamic entrepreneurs are in search of lucrative business opportunities they can make the most out of.
South-Africa is a developing economy, which provides with some great business opportunities with immense scopes for development. By building upon these business opportunities, one can harness great earnings in the long run.
The overall business investment environment remains encouraging in South-Africa. A G20 country, South Africa is considered a low-risk investment destination for investors looking for a foothold into Africa. As the continent’s largest African investor, South Africa sends more than 25% of its manufactured products into the continent.
Now, let us take a look at the top 10 business opportunities with immense development scopes in South-Africa. They are as follows:
1. Real Estate
South-Africa is a speedily growing economy with tremendous growth potential in the real estate sector. There is a great demand for land, houses and other facilities by the people in South-Africa. SA is ranked 23rd out of 81 countries in the Jones Lang LaSalle’s “World’s most Transparent Real Estate Markets” placing it well ahead of China, Brazil, India and Russia. As a result, real estate has emerged as one of the most fruitful areas in the South-African economy.
With around a low to medium sized capital, you can deal in low cost land and housing units. Luckily, if you are having a large amount of capital to be invested, you can spend it on buying large landscapes and housing facilities.
2. Clothing And Textiles
Clothing and garments happens to be another productive sector in South-African economy. There is an immense demand for garments produced in South-Africa, not only within South-Africa but also in the neighboring countries.
If you are having the capital and ability to dive into the garment industry of South-Africa, then there are immense scopes of making huge profits in the long run.
3. Food Processing
Food Processing is another booming sector in the South-African economy. There are already many processed food manufacturers in South-Africa but they are still not enough to meet the total consumer demand. Thus, there prevails a large room for new-comers in this sector to capitalize on new earning opportunities.
The food processing industry has a promising future with immense scopes for development in South-Africa. You have a wide variety of food products to concentrate on like fruits and vegetables, juices, animal products, and so on.
4. Agriculture
As a natural advantage in the developing South-African economy, the country has vast landscapes at offer. They can be used for agricultural purpose and great revenue can be generated. South Africa ranks in the top 20 countries for agricultural output. Still, there prevails an immense scope for cultivating agricultural products with the help of cost-effective manpower.
It is relatively easy for new investors to start an endeavor in the agriculture sector. You can start agriculture business on a small scale or large scale depending upon the capital at your disposal. With a limited capital, you can buy a small piece of land and start cultivating selected crops on it. You can even rear animals like fishes or poultry. With adequate amount of capital, you can cultivate a large number of crops and even rear many different animals in your farm.
5. E-commerce
According to The Economist, South-Africa ranks 31st in terms of Internet users per 1000 population. Now, the South-Africans are gradually finding it suitable to purchase their needed products and services online. As a result, the online stores in South-Africa are now getting more and more attention than ever before. The country offers wide scopes and potential opportunity to earn lucrative profits in the e-commerce sector.
In case, you are having a very less budget, it is still possible to start your e-commerce website. Initially, you can start on a small scale by offering just one product category. Thereafter, you can expand the size of your business after earning necessary amount of profit.
6. Foreign Cuisines
Being adventurous as well as affordable, there are a lots of visitors coming to travel the country from around the world. Being the host nation, South-Africa has a great opportunity to provide foreign tourists with multi-cuisine food delicacies as per their tastes. At present, most restaurants over there, do not offer this service.
Thus, there is a wide scope awaiting the investors to utilize this multi-cuisine food requirements. Foreign food like Italian dishes, Chinese dishes, American dishes etc. provides with an enormous profit earning opportunity. Additionally, you can also offer local South-African dishes to suffice the needs of the local customers.
7. Online Marketing
With the growing awareness, numerous South-African businesses are adopting online marketing measure to highlight their businesses. They have started allocating a certain part of their marketing budget specifically for online marketing. Thus, there is a large opportunity for IT professionals like SEO consultants, web designers, copywriters and social media managers.
With a limited capital and the required knowledge about online marketing, you have a significant opportunity to start your own online marketing business. This way, you can earn much profits based on your skills and expertise.
8. Freelance Writing
There is another IT related occupation, which has a bright future scope in South-Africa. The IT professionals from developed countries like USA and UK are hiring the services of freelance writers from other cheaper countries. Among these, South-Africa surprisingly tops the list of their choice on account of being regarded as a native English-speaking country.
This provides South-Africans who possess an acumen for writing with an opportunity to make money by serving as a freelance writer. You can provide expert services like blog writing, article writing, press release writing, proposal writing, resume writing etc. and avail high remuneration from freelance hirers.
9. Technology Products
As a growing economy, there is a huge demand for technology products like computers, laptops, tablets and smartphones in South-Africa. South-Africa has 53 million active cell phones (population 53 million) – ranking in the top 5 globally in terms of cell phone coverage. So, you can make it turn into profits by supplying such technology gadgets offered by leading technology companies.
You can even sell their accessories and add to your profit margin. Still further, you can even provide gadget repairing services and further increase your income.
10. Travel & Tourism
Travel & tourism industry has an immense scope in South-Africa. South-Africa is known for its rich cultural heritage, natural and adventurous tourist spots, lush green landscapes etc. Visitors from across the globe, visit the country in large numbers every year. According to World Tourism Council, South Africa is ranked among the top 3 countries in the world (countries with more than 9 million tourists) in respect of tourism growth (growing at 3 times the global average).
To take the advantage of this opportunity, you can jump into the travel and tourism business and serve the local as well as foreign tourists. This business can provide with immense earning opportunities in the long run, if it is implemented efficiently in the country.
A Final Note:
South-Africa is ranked 10th out of 183 countries for good practice in protecting investors in business. (World Bank Doing Business Report 2011). Doing business in South-Africa may be challenging at first but it is surely rewarding in the long run. Thus, considering all the positive factors about business investment in South-Africa, you can surely plan and implement business investment decision over there.
So, which other business sectors do you think are having immense development scopes in South-Africa?
Interested in clothing and technology products.