This post contains 10 untapped business opportunities in South Africa. When you hear of profitable businesses, we mean the business that you can do and make money more than your startup capital (the money you used in starting up the business).
The issue that most people face is that they don’t know the best business to start in South Africa. We are here to help you fix those issues. Let us begin.
10 Business Opportunities in South Africa.
Here we will be listing them according to their potential and resilience in the global market as a whole. So, if you have the interest of starting up a profitable business with your fund, then this list will help you.
As days go by, the way South Africans make use of the internet is also changing. This is so because of the production and availability of smartphones. An average person can spend 5 hours a day accessing the internet. This is why this business is part of the most profitable internet business to start in South Africa.
So as a young entrepreneur who wishes to start up a business, online marketing is a great business opportunity you can start right away. This line of business requires a lot of technical skills depending on your areas of interest, therefore, it won’t be a bad idea if you get yourself equipped before you venture into it.
When you start, be rest assured that people are there to patronize you. The online marketing business that you can venture into are as follows: Search Engine Optimization (SEO), Pay Per Click (PPC), Social Media Management, Website designing, Copywriting, etc.
Selling of mobile gadgets
A 2017 survey by Google Connected Consumer Survey shows that about 60% of South Africans uses mobile phones. It was even predicted that the number of mobile users in South Africa will expand to over 25 million by 2022.
From these stats, you can now see that selling of mobile gadgets to this large market is one of the best business opportunities in South Africa since there will always be in demand.
People have decided to make use of online access that is made available to them by opening an online retail store. The reason is that many South Africans buy their products and services online. As a matter of fact, they are much more comfortable making purchases online from the comfort of their homes. Starting an e-commerce website is one of the greatest business opportunities in South Africa that many don’t even know about till date.
You can begin with just one product. As your business grows, you can introduce other products.
As a South African looking for untapped business opportunities, you need to also look at the housing sector of the economy. Real estate business generally deals with land, houses and other facilities. In South Africa, the demand for these facilities is on the high side. That is why, as a real estate investor, you are sure to make huge profits when you decide to solve housing problems. All you need to do is invest in large expanses of land, housing, and other facilities.
How is agriculture a business opportunity in South Africa? According to a reliable source, agricultural products like corn and other fruits are some of the chief exports of South Africa.
In 2017 alone, the agricultural sector contributed about 10% of their total export earnings generating a staggering sum of $10.3 billion. As a result of this, no doubt, there is a lot of business opportunity in this sector. Therefore, as an entrepreneur, meet consultants in this field before you fully venture.
Clothing and textiles
Here is another lucrative business. What you need to do is to have a creative talent and use it to make home-made clothing and textile products. The demand for it is high, not only in South Africa but worldwide.
Most travellers, once they are in a foreign country, among the first thing they look for are the foods. This is where the thought of starting a restaurant business comes into play. You can provide these visitors with different delicacies and make a lot of money.
Online business owners in countries like the US and UK hire freelance writers virtually from other countries. They do this to cut their cost or minimize expenses. So, if you position yourself as one of those freelancers, you will be sure to make money while working from home.
People from all over the world go to South Africa every year. The go there for the purpose of studying, working, and visiting, etc. These people will need a lodge, a good restaurant, or taverns. Your job is to provide all these and more for these tourists.
It comes in different forms like fruits and vegetables, juices, animal products, and so on. You can make your choice and start a business in any of these areas. However, you should also know that there are a lot of processed food manufacturers in South Africa. The huge demands for it are yet to be met; this can be to your advantage.
Lastly, looking at the list of business opportunities in South Africa, we can see that they are all good ideas. That even with your small capital, you can still afford to start. We are telling you that in the long run, it will be of benefit to you.