Pakistan’s economy is quite complex. There are some growing industries and some that are struggling due to some of the corruption in the government though there are still lots of new business ideas for the people in Pakistan as there are a lot of skilled and talented workers. From the footwear business to providing meals to the poor, car parts manufacturing, and many more, there is a business idea there for you.
Many investors have heavy investments in their bags, but they cannot decide what business they can succeed in. Such people often use their money in less profitable business ventures, and their investments disappoint them. The most profitable business in Pakistan is not a single one. The business market in Pakistan is extremely diverse. Developing market trends create new opportunities every now and then.
The Most Profitable Business in Pakistan
Every business has its advantages and disadvantages, and it all depends upon the strategy you are running your business on. No business can be successful until you have a profitable strategy implemented. The following are given some of the rapidly evolving markets for starting-business opportunities in Pakistan.
Below mentioned is a complete list of the most profitable businesses in Pakistan. If you want to be a part of the most profitable business in Pakistan, you should follow the below-mentioned information to invest your money wisely.
1. Information Technology
For those who possess some knowledge about the Information Technology industry, IT is evolving very rapidly in Pakistan. Many foreign tech giants like Alibaba, Google, PayPal, and others are setting their eyes on increasing IT markets in Pakistan. This is the best opportunity for local entrepreneurs. You can begin businesses with an exit strategy because big giants would be interested in taking small companies in the coming years.
2. Industrial and Manufacturing
Almost everyone is familiar with the Chinese mega-investment of about 45 Billion dollars in CPEC (China-Pakistan Economic Corridor) in Pakistan to build a trade route from northern Pakistan to Gwadar Port that includes Gas Pipelines, Motorways, and much more. China has already obtained a lot of land in big cities of Pakistan like Lahore for its future industrial plans. Therefore, the industrial revolution is nearby in Pakistan. Take benefit from this opportunity, and plan your next venture accordingly.
3. Trading (Import and Export)
Pakistan has a huge edge over other Asian countries because of its deep-sea Port Gwadar. When this port is completely established, trading will be quite easier. It would also become cheaper for neighboring countries in South-East Asia to trade via the Gwadar route from Pakistan to the Middle East and Europe. Timing is perfect for getting your footsteps early on to become a big business in the coming years.
4. Retail Industry
Pakistan’s population is growing with a 2.0 percent annual change, according to the World Bank report (2016). India is 1.2 percent, and China with 0.5 percent.
However, retail businesses should forecast the situation in Pakistan in the next 10 to 20 years. The number of users on the internet is also progressing very rapidly in the country compared to other developed countries in the western world.
According to Bloomberg’s report, China would require huge agricultural land to feed its fast-growing population in the next 20 to 60 years because its land would not cover the requirements. This is also part of the CPEC and OBOR (One-Belt-One-Road) “Belt and Road Initiative” project. The main plan was to make the trade via road and make it more cost-effective. China knows that it is going to need more land in the future, and so is the trade. Moreover, Pakistan, as the neighbor of China, would have a big advantage over this. Pakistan is very famous for agriculture.
6. Solar Energy Production Company
The solar industry is ready to witness growth in Pakistan, as the research shows. At the start, you can begin developing solar energy for your local community or area by setting up a few panels. To keep prices low, only invest in a few panels and source them from China as they might be cheaper there. After you can sell enough of the energy produced, you can invest in more land and panels to expand the production company. You can sell energy on a per kilowatt basis to people’s residences. One thing to consider will also be maintaining and cleaning the solar panels to maximize your investment.
7. Local Tourism Companies
Pakistan has a vast opportunity for growth within the tourism industry now that some of the political and security tensions in that area are gone. As the tourism industry is boosting day by day across the country, this will be a great business idea to launch.
The Tourism Company is designed to provide a very local experience for the tourists, in exchange for a fee. You can start by setting up a simple website that offers your services and maps out the top five things to do as a local in Pakistan. Then you could rent a van or a coaster and take your clients on these local experiences of their lifetime.
8. Real Estate Brokering
The profits associated with real estate remain quite high, and if you want to enter this industry, one of the most cost-effective methods is to set up a real estate brokering firm.
Real estate brokers act as an agent between sellers and buyers, and all you need is a brokerage license. That said, getting your clients can be very challenging, given the number of real estate brokers.
9. Mental Health Education Service
Mental health education is a viable need in Pakistan as more and more young people continue to suffer from depression, anxiety, stress, and other mental illnesses. Initially, you will want to develop a mental health program that can be taught to various groups. Then you could reach out to the government or local city council to see if they will supply you with some grant to start. If not, you will need to approach the organizations, local schools, and possibly businesses to see if they will pay you to come and offer your services to the organization’s students, workers, and people. There is growing research and demand for this kind of work.
To conclude, I would say that if you want to make a profitable investment, you must not take any risks and invest in the already established business market. If you try to make new experiments, it can result in a huge loss. Therefore, a vise strategy must invest in the most profitable business, rather than trying your luck in experiments.