North Dakota is part of the state that makes up the 50 states of the United States of America, with Bismarck as its capital and the seat of power, as well as Fargo as its largest city. North Dakota is the 3rd least populous state and the 4th least densely populated state amongst the 50 states. The state of North Dakota is notable for having a large deposit of crude oil that is drilled on a commercial level.
The economy of North Dakota doesn’t just revolve around the petroleum, technology, food processing and manufacturing industry, but it also revolves around the agricultural sector. As a matter of fact, the Agricultural sector remains one of the highest employers of Labor and it is the largest source of revenue for the State.
The Agric sector in North Dakota is notable for the production of large quantities of various cereal grains like durum wheat, barley, oats, corn, buckwheat, hard red spring wheat and fur and also oil seeds like mustard seed, sunflower seeds, safflower seeds, canola crops and flax seeds.
The construction industry is another revenue generator for the state of North Dakota. It is important to note that North Dakota has the lowest rate of unemployment when compared to the other 50 states in the US and also it hosts big companies like Microsoft and Amazon. Records have it that Microsoft has its second largest base in Fargo and they employ over 1,700 employees.
Now, with all the information that has been reeled out about North Dakota, you might just agree that this is one suitable terrain to start your own business, due to the loads of positivity you stand to gain there. These are some of the business opportunities you can find in the state of North Dakota:
Top 10 Small Business Investment Opportunities in North Dakota
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1. Food Processing Company
If you start your own food processing company in North Dakota, then you stand the chance of becoming a successful business man if you work hard. There are loads of foods that are produced in large quantities in the state of North Dakota that can be processed and canned. All you might need to do is to look for a suitable location that is close to the farm where your raw materials are produced to establish your food processing company.
2. Cereal Farming Business
North Dakota remains one of the highest producers of all variety of grains. The good thing about starting any farming business in North Dakota is the fact that you stand the chance of benefitting from the subsidies that the Government of the state offers to farmers. So if you live in North Dakota, then you should think towards acquiring land to start your own Cereal grain farm.
3. Wheat Farming Business
Wheat farming is another profitable venture that you might want to start in the state of North Dakota. It is a fact that North Dakota has suitable soil composition and weather that supports the growth of wheat. If you know you have the capacity to go into mechanizing farming and you live in North Dakota, then you should consider starting your own wheat farm. The demand for wheat produced in North Dakota is on the increase and you can cash in on it.
4. Beans Farming
North Dakota is known as the number one producer of all species of beans in the united states of America. If you choose to go into beans farming, you would not only make good profit from the business, but you would also get the support of the state government. You can acquire large expanse of farming land to cultivate beans at a cheaper rate in the state of North Dakota.
5. Oil Production Business
You can start your own oil production company in North Dakota and be sure of getting the seeds needed at a very low price. You could engage in the extraction of edible oil, oil used for bio-fuel or oil used for the skin and medicinal purpose from all the oil seeds like mustard seed, sunflower seeds, safflower seeds, canola crops and flax seeds that you can get in North Dakota at a comparatively low price. The market for oil produced in North Dakota is indeed a booming one.
6. Employment Agency
North Dakota remains the state with the least unemployment rate, and there are jobs available for those who are willing to work. If you start your own Employment / Recruitment Agency in North Dakota, you can be rest assured to have clients who would patronize you per time. All you need to do is to talk to companies around you and become their private recruiter.
7. Pharmacy Shop
Pharmacy business is yet another thriving business in the state of North Dakota. In other to start this kind of business in North Dakota, you would be required to obtain your license and permit from the agency regulating the pharmacy industry in North Dakota. So if you are a practicing pharmacist and you intend relocating to North Dakota, you should consider starting your own Pharmacy Shop.
8. Unisex Salon
If you establish your unisex salon in the heart of residential area, you would have loads of people patronizing you per time. Unisex salon business is a very thriving low startup business in North Dakota. Just ensure that people get real value for their monies when they visit your salon and you will continue to be in business.
9. Cut Stone Product Manufacturing Company
You can start your own cut stone product manufacturing company in North Dakota and have loads of patronage. You could go into the production of bathroom sinks, bathtubs, window sills, tables for laundries et al. if you are creative with your cut stone production, there are various stuff and designs you might be able to produce based on your clients request.
It is a thriving business in North Dakota and it requires that you undergo some form of training before you can start this kind of business, except you just want to invest and get trained people to run it for you.
10. Dry Cleaning Business
If you are looking for a business you can start with little capital in the state of North Dakota, then you should consider starting a Dry Cleaning service. Although there are loads of dry cleaning services scattered all around North Dakota, but you can still make yours unique by offering extra services to your customers.
There you have it, 10 business opportunities to choose from. You can make your choice from any of the business opportunities listed above and with diligence and hard work; you can conveniently build your business to a level of high profitability.