Are you interested in starting a business in Taiwan? If Yes, here are the top 10 best small business ideas & investment opportunities in Taiwan.
If you have been around for over thirty years, then chances are that you might have come across one product or the other that is made in Taiwan. Taiwan is legitimately the Republic of China and is a sovereign state in East Asia. The Republic of China was formally based in mainland China, and now governs the island of Taiwan, which makes up over 99% of its territory, and has Penghu, Kinmen, Matsu, and other minor islands in it.
It has neighboring states as the People’s Republic of China to the west, Japan to the east and northeast, and the Philippines to the south. It has its central seat of government as Taipei and this also happens to be the most populous city.
Over the past centuries history has it that Taiwan experienced rapid economic growth and industrialization, and therefore is now an advanced industrial economy. This country is the 19th-largest economy in the world and its high-tech industry plays a key role in the global economy. Taiwan is rated greatly in terms of freedom of the press, public education, health care, economic freedom, and human development.
For this reason, it might not be a bad idea at all to go down to Taiwan to seek business opportunities to invest in. If you think this might be a priority to you as an investor then here are some business ideas that are available might be available to you in Taiwan.
Top 10 Small Business Investment Opportunities in Taiwan
1. Automotive and Car Parts Business
Without an iota of doubt, Taiwan has a robust economy that is very much capable of high technology industrial production. One business therefore you may want to invest in this country is that Auto parts business. However, this all depends on the scale you would like to start from.
You may decide to set up your own manufacturing company, as well as become a distributor to other countries. This is one industry that requires huge capital and you must be able to pool the appropriate resources to start out.
The need to solve the problems in the health sector all over the world is such that requires good supply of equipments. Therefore this is the reason why Taiwan producers have taken it upon themselves to produce the very best of medical supplies.
You too can plug into this business opportunity. Some of the things that may be considered dealing in are ; dental equipment and appliances, diagnostic instruments, hospital equipments, medical disposable items, prosthetic and orthopedic products , amongst others.
Taiwan is one country where the production of hardware is in abundance, if you are an IT savvy person, then you may want to consider dealing in Hardware. This might be a capital intensive business to start with; however, you can be sure that the returns on your investment wouldn’t be regret.
4. Bicycle Products
If you are such a one that has a penchant for bicycles generally. Then you may make this a business line as there are lots of bicycle products opportunities in Taiwan. You can decide to carve a niche for your business by asking yourself questions like; who are my target market? Would it be bicycle product for toddlers, teenagers or adults? These are all that you must put into consideration.
It is no longer news that heavy duty machineries can be found in Taiwan. Hence, it might also no longer be news to you that you could make great profit from dealing in machinery in Taiwan. This is because the market all over the world is a very vast one. You may decide to set up your business in Taiwan for the sole aim of exporting to countries from there. Types of machinery include; truck machines, generating set as well as others.
6. Communication Products
Another business which you might yet want to invest in Taiwan is the communication products. Taiwan is like the one stop centre to get these products and you must be ready to take advantage of this opportunity. Some of the communication products include; fax, modems, wireless communication products, LAN card and adapter, amongst many other products.
7. Consumer Electronics and Electrical Parts Business
There is a ready way to get these products supplied to your stores when you operate such a business in Taiwan. The market for consumer electronics and electrical parts is a very big one in Africa, Europe, the Caribbean, you name it. Some of the products you may want to deal in include the following; air condition equipment, audio electronic products, battery, cell chargers, modules, just to mention a few.
8. Food and Agricultural Products
Much more than the electronics and the equipment industries in Taiwan, there is also the food and agricultural sector. And the truth is that there is as much profit in the food and agricultural business as there is in other sectors. Some of the products you may consider dealing in are; confectioneries, biscuits, snacks, farm products- fresh or chilled, food additives, frozen foods and what have you.
9. Fashion Accessories and Household Textiles
The love for fashion is such that cuts across continents and borders. Therefore, you may also invest in the fashion business in far away Taiwan. There are lots of industries who work tirelessly to churn out quality products for fashion lovers. Some of the products that could fetch you good money in the venture include; belts, gloves, hair ornaments, hats, hosiery, towel, handkerchiefs amongst others.
10. Gifts and Work of Arts Business
You can be rest assured that the market for gifts and work of arts is such that is vast. When you have your business well positioned in Taiwan then you can boast of good returns. Some of the products in this category that can be considered are; badges, plaques, cosmetic supplies, ceramic and porcelain ware, Christmas decoration, key chain, handicraft and what have you.
There you go! 10 top business opportunities that could be tapped from in Taiwan. However, please remember that you must play a great role in further research on the areas that are of interest to you. This is so that you are conversant with what you want to deal in, so as to avoid a fold up after you commence operation of business.