Do you reside in Bahamas and you need ideas for starting a business? Here are top 10 small business investment opportunities in Bahamas.
The rich West Indies nation called Bahamas is obviously one of the hotspot when it comes to tourism. Bahamas comprises of about 700 islands and is noted to have the clearest water on planet earth with visibility of about 200 feet. The Common Wealth of The Bahamas gained her independence from the United Kingdom on 10th July, 1973.
Bahamas is located in the North Atlantic Ocean on the south eastern part of the US state of Florida and its capital and seat of power is Nassau located on the island of New Providence. Its official language is English and the population is predominantly black folks (90 percent blacks).
The economy of the Bahamas revolves around key industries like tourism and finance and it is considered to be the 3rd richest countries in the Americas in terms gross domestic product per capita. As a matter of facts, the tourism industry generates about 60% of the country’s income and it employs more than half of its labor force.
If you live in the Bahamas or intend relocating to the Bahamas to start your own business, then you should find the following viable and profitable business opportunities useful.
Top 10 Small Business Investment Opportunities in Bahamas
The fact that tourism generates over 60 percent of the income of Bahamas makes it clear that any business that is related to the industry is expected to grow and become highly profitable. If you have the required capital to invest in Hotels and Resorts business in the Bahamas, then you should go ahead and invest.
You can be convinced that your investment would yield dividends because there are tons of tourists from all over the world who visits Bahamas. So if your hotel and resorts is of standard and it is well advertised, you won’t have any problem getting all the rooms occupied for the most part of the year.
2. Cruise Ship Business
The Bahamas is a cluster of over 700 islands and water transportation remains the most active form of transportation not just for her citizens, but also for tourists who would like to cruise round the Bahamas. If you are looking for business to invest into in the Bahamas, then you should consider owning and operating your own Cruise Ship. It is indeed a profitable venture and you can start with just one cruise ship or boat.
Travels and tours business is obviously one of the most profitable low startup businesses you can establish in the Bahamas. You would require some form of certification and license to start this kind of business and the truth is that if you are well positioned, you would be able to work with big time travels and Tours Companies abroad.
Hats, bags, baskets, amongst others which are locally made from palm fronds is one of the gifts/ souvenir items that tourists buy when they visit any of the islands in the Bahamas. If you have no qualification, and are looking for a business that requires minimal capital to start in the Bahamas, then you should consider starting your own Handicrafts business.
All you need to do to make it big with this type of business is to ensure that you position your outlet close to where a beehive of tourists can access. You can position your shop in places like airports, jetties, hotels, just to mention a few. If you don’t have the skills, you can learn it at a cheaper rate.
5. Pineapple and Sugarcane Plantation
The soil composition of the Bahamas is highly suitable for the cultivation of Pineapples and Sugarcane. If you are agriculturally inclined and are looking for a business to start in the Bahamas, then you should consider starting your own Pineapple and Sugarcane Plantation. It is indeed a very profitable venture with a large market base.
If you intend starting your own restaurants and bars, you can either design it to serve the locals or foreigners who come in as tourists. Whichever one you choose, just make sure you serve the best of delicacies and you can be sure to have loads of people patronizing you. The good thing about restaurant business is that it never goes out of season and you can double your investment within few months of starting the business.
If you are conversant with the Bahamas terrain and you can speak 2 to 3 foreign languages, then you should consider starting your own tourist guide business. Tourists who aren’t from English speaking countries would sure appreciate your services if you can speak their own language as a tourists guide. If you are thinking of starting out as a tourists guide, then you should learn any or all of the following languages; Spanish, French, Portuguese, German language, Chinese et al.
The next big industry in the Bahamas is the financial industry and the business opportunities available in the industry are large. If you have any qualification as an accountant or any financial related course, then you should consider starting your own financial consulting business in the Bahamas.
It is indeed a profitable business especially if you are good with what you do. Small businesses and even medium enterprise will hire you to help them audit their accounts and also help them with their tax related issues.
If you have no real skill at all and you truly want to go into business, then you should consider starting your own grocery store. All the skills you would need to effectively run this kind of business are just; basic mathematics and bargaining skills. This type of business is simple to run and it is indeed a profitable business in the Bahamas.
Another blossoming business that you may start in the Bahamas is the fumigation business. If you start your own fumigation business in the Bahamas, you can boast to have enough homes, offices and even farms to do business with. All you need to do is to print and distribute handbills that state clearly the kind of services you offer and the calls would start coming in.
These are just some of the business opportunities you can access in the Bahamas. Take a cue from the list above and you would be on your way to building a promising venture.