Are you an entrepreneur or investor? Do you need information on the best business ideas & investment opportunities in Nepal for 2020? Then I advice you read on.
Nepal is a country located in the Southern part of Asia; it is between China and India. The capital of Nepal is Kathmandu and it is the largest city. The official language of Nepal is Nepali and their official currency is called Nepalese Rupee (NPR). Nepal is considered to be a developing country with a large chunk of her population living in poverty.
Mount Everest which happens to be the tallest mountain in the whole world is located in Nepal; as a matter of fact Nepal is home to 8 of the world’s 10 tallest mountains. Hinduism is the most practiced religion in Nepal followed by Buddhism, Islam and Christianity.
Nepal economy revolves around the agriculture industry and the services industry. As a matter of fact, the agriculture sector employs about 70 percent of the country’s workforce. Nepal is notable for the cultivation of rice, sugarcane, tea, tobacco, jute, corn, wheat, and grains. Tourism is one of the industries in Nepal that has not been fully harnessed.
The presence of Mount Everest is not being maximized to attract tourists to the country simply because of poor infrastructures in Nepal. If you intend starting a business in Nepal, here are 10 small business ideas that you can leverage on;
10 Small Business ideas & Investment Opportunities for Nepal in 2020
One of the small scale businesses that require low startup capital that an entrepreneur can successfully start in Nepal is a barber’s shop. All you would need to start this business is 2 or 3 clippers, a small shop, and a small generator. It is indeed a profitable business if it is well positioned and also if you know how to cut the hair.
Car wash is yet another thriving small scale business an entrepreneur can establish in Nepal. It requires low startup capital and no technical skills to be able to start and operate a car wash centre. Just ensure that your car wash is located along a busy road and you wouldn’t struggle to attract customers. You can start the business alone, and then hire more hands as the business grow.
Another small scale business an entrepreneur can start in Nepal is groceries business; a shop where people can get supply of their regular groceries. This type of business can thrive in any part of Nepal but just ensure that your store is well stocked per time.
Dry cleaning business is yet another small scale business idea anybody interested in making money in Nepal can setup. Although, the basic laundry equipments like Washing machines, and dryers can be expensive for a small scale entrepreneur, but there is the option of buying fairly used equipments. It is relatively cheaper.
Because of the poverty level in Nepal, most of the people in the country – especially those in rural areas resort to buying second stuffs ranging from clothes to electronics. So, if you are looking for a profitable and easy to setup small scale business to start in Nepal, then you should consider opening a consignment shop.
You can engage in the sale of second hand clothes, shoes, belts, bags, caps et al or you could engage in the sale of second hand electronics et al. Just ensure you know what the people want and then stock your shop with it.
Restaurant and Bar is yet another thriving small scale business an entrepreneur can successfully launch in Nepal. This type of business thrives in big cities. The truth is that if you choose a good location for your restaurant and bar you won’t struggle to attract customers.
7. Electronic Repair Shop
If you are a trained technician, one of the small scale businesses that you can start in Nepal is an electronic repair business. Unlike in developed countries where people hardly repair their electronics once it get bad, in Nepal people would rather fix their bad electronics as against replacing it with new ones.
Majority of people that visit Nepal for tourism are mountaineers. Mount Everest happens to be the number one destination for tourists who come to Nepal. Very few people understand and speak English, French, German and Spanish in Nepal and these are the languages spoken by majority of the tourists who visit Nepal.
One of the small scale businesses that you can start in the tourism industry in Nepal is to become a tourist guide. The truth is that, if you understand English and other international language, couple with a good understanding of the geography of Nepal, you will sure do pretty well as a tourist guide and interpreter.
9. Business Centre
A multiple purpose business centre is another small scale business an entrepreneur can setup in Nepal. This type of business will do pretty well in major cities in Nepal. All you need to get started is a small shop, a photocopier, a scanning machine, a lamination machine, a fax machine and a telephone box. It is indeed a profitable business especially if it is well located. Any area around tertiary institution is ideal for this type of business.
10. Farming Business
Nepal is notable for the cultivation of rice, sugarcane, tea, tobacco, jute, corn, wheat, and grains. If you are interested in the agric sector, you can go into the farming of any of the crops listed above. The truth is that you can start a small scale non – mechanized farming in Nepal and you will make good cash from it.
An entrepreneur can start any of the businesses listed above without going through the process of registering the business or obtaining any license. The bottom line is to ensure that you conduct proper feasibility studies before starting any business; it will save you time and money.
There you have it; the 10 profitable small scale business ideas an entrepreneur can successfully start in Nepal.