Are you interested in starting a business in Estonia? If Yes, here are the top 10 best small business ideas & investment opportunities in Estonia.
Estonia which is nicked named the Baltic Tiger is a European country that is located in the Northern part of the European continent; it is part of the Baltic countries. The capital city and seat of power of Estonia is Tallinn and Tallinn is also the largest city in Estonia.
Estonia is a member state of the European Union, the Eurozone, the EU single market and also the Schengen Area. The official language of Estonia is Estonian, but English language is also generally spoken by many in Estonia.
Estonia is considered to be a developed country that can boast of an advanced economy with high income. It is important to state the Estonia was recently ranked 4th freest economy in Europe and 1st in terms of internet freedom.
Key contributors to the economy of Estonia are the banking sector, e-Commerce, telecommunication, transportation, shipbuilding, food and fishing, electronics, construction, services, machinery and Chemical industry. Statistics has it that the construction sector is one of the highest employers of labor in Estonia.
Another promising and an untapped industry in Estonia is the mining industry. Estonia boasts of having large reserves of granite, limestone, oil shale, phosphorite, and pitchblende. If you are headed for starting a business in Estonia, then the following top 10 business opportunities would serve as a guide to you;
Top 10 Small Business Investment Opportunities in Estonia
Estonia is a very strong e-Commerce nation. Loads of businesses are conducted on an online platform. There are several e-Shops that are based in Estonia and they enjoy high patronage. Establishing an e-Commerce related business in Estonia is indeed a profitable venture. The fact that Estonia boast of having one of the fastest internet downloads in the world makes it a suitable country to establish e-Commerce related business.
Taxi business is another business that is common but profitable in Estonia especially in the capital city – Tallinn. There are willing drivers that you could hire to help you man your fleet of cabs in Estonia. This kind of business is one of the easiest businesses to establish in Estonia.
If you are interested in the food industry, then you should consider establishing your own fast food restaurant in Estonia. Investors that invest in this industry do so with a long term plan of opening other outlets in other towns and cities in Estonia and also building a brand whose franchise can easily be sold not just in Estonia, but also in other European countries especially in the Baltic nations.
Beauty Salon and Spa is another thriving business in Estonia. If you are an entrepreneur in Estonia and you are looking for a business to start, you should look in the direction of starting your own Beauty Salon and Spa. The truth is that if your Salon is well positioned in a densely populated area, you can be rest assured to have high daily patronage. It is important to state that you would require some form of training before you can run this kind of business.
There are loads of small businesses and even individuals who from time to time look for people to help them handle their website concerns, and also help them with designs and prints. If you are a web designer and a graphic artist, all you need to do to generate huge revenue from this industry is to advertise the services you offer online.
In most cases, you would likely get contracts from clients outside the shores of Estonia. One good thing about this kind of business is that you can work from the comfort of your home.
6. Furniture Making and Sale
Furniture making and sales is yet another easy to start business in Estonia. As a matter of fact, about 47 percent of the land area in Estonia is covered by forest making timbers very cheap in Estonia. If you establish your own furniture business in Estonia, you will get timber which is the major raw material for making furniture at a very cheap and affordable rate.
7. Telecommunication Merchant
The telecommunication market in Estonia is a very large market and it is very much open to more investors. One of the ways you can participate in this sector is to come in as a merchant. All you need to do is to have outlets where you sell internet data bundle, call credits et al. it is indeed a very profitable business enterprise in Estonia.
8. Engineering Fabrication and Construction Company
Estonia’s Engineering Fabrication and Construction sector is still open for investors to come in. If you are looking toward starting a business in Estonia, then you should consider starting your own Engineering Fabrication and Construction Company. There are loads of contracts you can handle in Estonia if you have a good network in Estonia.
9. European Cuisine Restaurant
Another thriving business that you could establish in Estonia as an investor is a restaurant that serves European Cuisine. Most people who visit Estonia are Europeans and they will patronize your restaurants when they know that they can easily find meals that they are used to. Just ensure that your restaurant is nicely located and the ambience is welcoming.
If you have technical skills in the repair of computers, then you should consider opening a shop that sells and repair computers. The truth is that people find it convenient buying computers from a shop that they can also fix the computers in case it develops fault.
Another ways you can generate revenue from this kind of business is to market your skills to small businesses that uses computer. You can help them with the repairs of their computers when it develops faults. They would truly appreciate if you can come over to their offices to help them fix the computers rather than for them to bring it to your shop.
There you have it; the top 10 business opportunities that are available in Estonia. Make adequate plans before starting out with any of these business opportunities so as to grow successfully in it.