South Africa is the second largest economy situated in the area of the Indian Ocean. The country ranked as an upper-middle income economy by the World Bank. Yet poverty is still a huge problem in South Africa. It's causing serious problems like unemployment, illiteracy, hunger, inadequate electricity and so on. South Africa has some finest resources; timber, gold, copper, oil, and diamonds. Thus, it can still become one of the best business countries in the world. Some growing facts have highlighted below:
South Africa has got many unexploited business opportunities for intelligent investors. Here some promising business opportunities in South Africa described in below:
IT Business:
In today's growing modern age IT business is now recognized as a very demanding business. Apart from the illiteracy problem of South Africa, there are still some well-educated people. They can start their own IT Business using their expert people. IT Business will help the South African people to achieve various opportunities:
Online marketing:
Online marketing is becoming an essential part of the business marketing strategy in this evolving world. In South Africa, more people have access to the Internet. They have a smartphone penetration of 37%. It indicates remarkable chances of starting any types of online businesses in South Africa. Here’s what opportunities South Africa can get by considering setting up online markets:
Outsourcing:
Outsourcing is now recognized as a pure cost-saving mechanism. South African people have an accepted natural social connection to US, UK, EU, Australia, and New Zealand. So they can benefit more from the increased demand for IT outsourcing in the USA and UK. Outsourcing can provide some significant benefits to the people of South Africa:
Transport Business:
South Africa got some well-developed road, rail, and air transport infrastructure. It's a remarkable chance to start up a transport business in South Africa. Here are some particular transport business opportunities for South African:
E-commerce:
This modern age is now wholly dependent on the internet. The people from all over the world are now much comfortable to buy their demanded products online. Most of the people of South Africa are now streaming the internet with satisfaction. So South Africa can embrace many chances by starting an online e-commerce business:
Jewelry Business:
South Africa has plenty of natural resources like diamonds and gold. By starting a jewelry business, they can generate a strong and promising economy. Some potential opportunities for this business are in below:
Tourism:
South Africa has huge natural resources, beautiful cultural heritage, landscapes, and others. These made South Africa a popular tourist country among international visitors. World Economic Forum voted South Africa 48th as a popular country to visit. So, starting a tourism business in South Africa will be a very smart business move. This business will bring some tremendous golden opportunities for South Africa:
Conclusion
In South Africa the unemployment rate is higher; this is why most of the people want to start a business rather than finding a regular job. But they don’t know what type of business is suitable to start. This article describes some of the most profitable small business that can make you a successful business entrepreneur in South Africa. So, what are you for? Contact S & F Consulting Firm and get your business registered.