Are you interested in starting a business in Cyprus? If Yes, here are the top 10 best small business ideas & investment opportunities in Cyprus.
Cyprus is an Island country, and it is located in the Eastern part of the Mediterranean Sea. Its capital city is Nicosia. Cyprus is a member state of the European Union and it is close to Greece, Turkey, Egypt, Israel, Syria and Lebanon.
It is important to state that Cyprus is rated as the 3rd most populous island and the 3rd largest island in the Mediterranean. The official languages of Cyprus are Greek and Turkish, but English is also widely spoken in the streets on Cyprus.
The economy of Cyprus is said to be a high – income economy with very high Human Development Index. Cyprus enjoys a prosperous and a diversified economy. Key contributors to the Gross Domestic Product (GDP) of Cyprus are the Shipping industry, the Tourism sector, Property Rental market, and the service sector.
Recently Oil and natural gas has been discovered in Aphrodite, Cyprus and hopefully it would become the major contributor to the economy of Cyprus in no distant time. The truth is that international investors, especially from Russia have started positioning their businesses in Cyprus so as to leverage of the emerging oil and gas industry.
If you are looking towards establishing a business in Cyprus, then the following top 10 business opportunities can serve as a guide;
Top 10 Small Business Investment Opportunities in Cyprus
Construction companies enjoy some form of support from the government of Cyprus. If you are looking toward investing big time in Cyprus, then you should consider establishing your own Construction Company. The government of Cyprus encourages massive infrastructure development by the private sector.
Property Rental Business is indeed a booming venture in Cyprus. Individuals and organizations rent office spaces, halls for their events, parking lots, amongst others. If you have the required capital to build an office complex in any business district in Cyprus, you will sure reap huge returns on your investment.
Although, despite the facts that this kind of business is a long – term investment plan, you could still recoup your capital within a short period of time if you understand the drill in Cyprus.
3. Educational Consultancy Services
Cyprus can boast of having some of the finest Universities in the world and the good thing about most universities in Cyprus is that students are taught in English language thereby making it one of the destinations for international students.
If you are looking in the line of establishing a service based business in Cyprus, then you should consider starting your own Education Consultancy Services. You can help international students secure admission and accommodation in Cyprus universities. You can as well guide students with their visa application processes, et al.
Cyprus shipping sector is indeed a vibrant industry and import is a common feature in the industry. If you are thinking of a business to do in Cyprus, you should look towards starting your own Clearing and Forwarding Company. It is indeed a very profitable business venture because Cyprus imports a lot of stuffs.
Travels and Tours is another booming business enterprise in Cyprus. You would need a license from the government of Cyprus before you are permitted to run this type of business. This is indeed a profitable business because Cyprus happens to be a choice tourist destination.
No doubt if you start your own transportation business in Cyprus, you would reap good returns on your investment. The transport sector in Cyprus is still very much open for private investors. If you are thinking of starting a business in Cyprus, then you should consider starting your own transport business.
You can specialize in road transportation or water transportation or even both if you have the capacity. And if you have financial muscle, then you can venture into air transportation. The good thing about transportation business is that despite the fact that you would have to spend a lot on logistics and maintenance, if well monitored and managed, you will get good returns on your investment.
Cyprus is rated as one of the country that has high car per citizen. Auto mechanic services is a lucrative business venture in Cyprus. If you are a trained auto mechanic, then you should consider starting your own auto mechanic workshop. Just ensure that you situate your auto workshop in an area that is easily accessible. The truth is that if your auto workshop is well positioned, you will have more than enough clients to attend to per time.
Another thriving business that you can start from home in Cyprus is Web Design and Web Hosting. There are loads of small businesses in Cyprus that don’t have online presence. So, if you establish your own web design and web hosting business, then you should target small businesses. Just ensure that you enumerate the advantages of owning a website to small business owners and you will have a deal with them.
9. Insurance Brokerage Firm-: If you are a trained insurance practitioner and you are thinking to start your own business, then you should consider starting your own insurance brokerage firm. Insurance brokerage firm is a thriving business in Cyprus.
10. Indoor Golf Centre with Shop and Small Bar
If you have the capital to acquire large landed properties in Cyprus, then you should consider building an indoor golf centre with a shop and a small bar. If you run this kind of business properly, you have no problem generating revenues for maintenance, plus you would have enough money for savings. It is a three in one business in the sense that you can make money from people who play golf in your facility and also from your convenience shop and bar.
These are some of the business opportunities that are available in Cyprus. Just ensure that you conduct your feasibility studies and additional research before making your choice of business to engage in. The truth is that no matter the business you choose to start as an entrepreneur if you are not hard working and creative, you may struggle to grow your business to profitability.