Looking for small business ideas in Russia right? Yes, you are in the right article. Here we discuss about some profitable business opportunities in Russia with a brief discussion. Our small business ideas article might be useful and Inspiration for local and foreign investors.
The Russian Federation with an area of 6.602 million square miles is the largest among world nations spreading over two continents, Asia and Europe. The 144 million populations of Russia enjoying a GDP per capita of 8,748.36 dollars The economy of Russia is, so to say, an upper-middle income mixed economy, but 9th largest in the world. It owns the largest reserves of mining resources in the world. The Russian export basket is rich in merchandises like, Oil, Gas, Timber, Grains, Meat, Fish and Seafood, and metal.
However, capital generation is yet a problem in the Russian economy. Thus, focusing on small or medium scaled businesses is no less a prudent thinking. If you are living in this part of the world or intending to re-position your venture here, may try one of the following with minimum investments and headaches, as far as Russia is concerned.
Here is a list of profitable small business ideas in Russia that you can easily get started:
Fishing and Seafood Business
Russia is exposed to the three mighty oceans of the world, the Arctic, the Atlantic and the Pacific. Thus, it is too exposed to the huge resources of fishes and seafood. This is a business that never going to fail in Russia. Depending on the size of your investments you can reasonably start one with limited resources.
Russia is rich in lands and so in cultivating grains. Soft loans are disbursing by the banks to help grow the agro sector. Although buying or owning lands is difficult in some parts of this country provision for leasing of the lands is in practice. Farm equipment too within the reach as Russia manufactures these. As small business ideas in Russia this is a business of farming can be done with small or large scale and income tax in Russia.
Metallurgy and Fabrication
The soil of Russia is rich in metals and metallurgy is the business that well placed in its economy. This too can be small or big in terms of investments and job scopes. Demands of tools and spares for machines and equipment are on the rise keeping pace with industrial growths here. Manufacturing of such tools and spares in small or medium scale is very promising and rewarding.
Garments and Accessories
This is perhaps one of the most flourishing small business ideas in Russia. Choosing right and trendy stocks of clothes of all types and accessories like, waist belts, bags, caps, shoes are the key to bringing in more customers. Location is also important depending on the lines. It may be targeted for lower income groups or up street shoppers. However, since Russia is one of the coldest parts of the world as winter dominates the seasonal calendar here, it’s advising to think of stocks meant for wintry climate.
Since coffee lovers are in abundance in Russia because of the cold climate, a café or a coffee shop is a good business with minimal financial involvement. For a coffee shop to flourish location is a key factor than the requirement of investment. Busy intersections or spots near shopping districts are good for such café.
Educational Advisory service
Russian colleges and universities experience influx of students throughout the year from around the world. This opens up a good prospect for educational consultancy business providing intending students with admission and visa services. Students need proper guidance to gain accesses to its institutions and accommodations as well. These sorts of services can be offered case to case basis in exchange of fees. Expertise in the line is more demanding than the requirement of capital to start a business like this. A small office with networking facility is ok with this type of business.
Timber and Furniture
Russia is rich in forestry and its forests are mostly untapped in comparison with other nations. Timber is the product of forests and is in abundance. Processing of use-worthy timbers, logs can be a good business. In addition to selling raw timbers value added products like furniture and fixtures promise good business turn overs. House hold as well as office furniture are in good demands in Russia and is on the rise owing to gradual economic development.
Spending on shopping is hiking up in Russia. Russia is in the 6th place among world nations in the Purchasing Power Parity [PPP]. As thriving in other economies of the world, buying and selling on-line is the business of the age with minimum investments but maximum returns. e-tailing or click stores are enjoying good market shares in than the brick & mortars in terms of investments. A good, responsive and user friendly website with trendy stocks depending on the types of merchandise are what you need to start your journey to success here.
Travelling & Tourism
Russia is a country gifted with lots of places of interest and the land experiences healthy inflows of tourists from around the world throughout the year. The Russian landscape stretching from Siberian Tundra to beaches along the lines of oceans and seas holds the worth-seeing and worth-visiting places of natural and historical interests. Apart from these its ballets are prominent in the world. The Kremlin, Lake Baikal, Red Square, Hermitage museum, Peterhof palace, Saint Basil’s Cathedral, Gorky Park are just a few notable places from a long list. From ticketing to arranging guided tours can be endeavored to earn bread and butter well.
Russia has always been rich, traditionally, in distinctive arts and crafts. The Matryoshka nesting dolls of Russia are popular all over the world. Russia is famed for its Glass and crystal wares. Aside from these, it’s Faberge Jewelry and crafts, Shawls, Zhostovo jewelry are the most sought-after merchandises around the world. A shop in a suitable tourist spot could sell these well and the same can be arranged and managed with less investment and effort.
Above small business ideas in Russia would require investments ranging from 600,000 to 1000,000 Rubles depending on the types and scopes. Well, it is important to keep in mind that real states are very hard to own in Russia. As such, the costs of rent are high in this part of the world. Since government machinery in Russia maintains much influence upon businesses, living in the good books of government officials is of much importance.
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