Business Opportunities in Pakistan
By Abu Adal Akhtar, Digital Marketing Expert
Pakistan is an under developed country, striving to accelerate its economic growth and catch the pace of the fast growing economies of the world. Before talking about Business Opportunities in Pakistan, let’s have a look at different aspects of Pakistan and its economy.
Pakistan is the 26th largest in Purchasing Power Parity (PPP). It’s per capita GDP is ranked at 133rd in the world. The developing HDI of Pakistan is ranked at 14th place. The real GDP growth rate is projected between 4.7 to 5.8 percent in 2018-19. The growth momentum is broad-based, as all sectors namely agriculture, industry and services have supported economic growth. Over the past few years, Pakistan has shown a great improvement in the GDP and will continue to benefit from growing confidence in consumer and investor relationship. The GEF in Pakistan is progressing very well and gained national and international recognition due to its successful implementation.
The population of Pakistan has increased to an alarming stage of 220M and 60 percent of this population consists of youth. Pakistan’s small business sector has the highest potential opportunity for the self-employment among the educated young entrepreneur business minds.
There are alot of business opportunities in Pakistan in multiple sectors;
- Services sector has a lot of opportunities for business men as there is a huge gap between a service provider and a consumer. The services sector share in GDP has reached 58.8 percent in recent years. The major revenue earning sectors are Transport, Storage and Communication, Wholesale and Retail Trade, Finance and Insurance, Housing Services etc. The Services sector has witnessed a growth rate of 4.95 percent as compared to 4.37 percent last year.
- Due to increase in internet and mobile application (Apps) usage, a consumer wsih to get their isses sorted out through use of Google and other relevant mobile Apps. Mobile apps and Web development and Graphics Designing are now part of almost every erprenour’s portfolio.
- Setting up Digital Marketing Agency is one of the most profitable business ideas. This include Internet marketing, Social Media marketing, SEO and paid marketing. The main aim of this business is to get their client’s story and product in the media and convert the visitors into resourceful clients. Websites now an effective marketing tool to advertise your brand.
- The industrial sector contributes 20.30 percent in overall GDP and it is known as one of the major source of tax revenues for Govt. of Pakistan. Manufacturing comprising 65.4 percent share in the overall industrial sectoentr is the most important sub-sector of the production industry.
- Agriculture sector in Pakistan claim 20.9 percent of GDP and 43.5 percent of employment. The agriculture sector has four sub-sectors including livestock,forestry, crops and fisheries.
- Retail industry has emerged as another big source of GDP growth. Our young generation and middle-class consumers are the major reasons for the growth in this industry in Pakistan. Handsome salary packages have urged the young generation to have better life style and this factor has attraced the young middle class consumers towards the fancty stores and supermarkets. Supermarkets are quite popular now among urban consumers for grocery shopping.
- Pakistan stands at the second largest in terms of Internet retailing industry in South Asia with about $75 to $100 million. Due to better awareness among young urban population they are willing to fully utilize e-commerce related channel (e.g. daraz.pk) and willing to experience it.
- Business consulting is another very profitable business with almost zero investment. Professionals from different field of life look for profitable consulting business ideas to do something different and enjoy job flexibility and make more money.
- Fish Farming is an other most profitable business that can generate a handsome amount of money with core specific knowledge and expertise. This business can be started with very moderate investment, all you need is to adopt and implement modern techniques and having owned space will further boost the ROI.
- Mobile car wash business is another smart and work to make handsome amount of money with low investment. You dont need any specific location to start this business. Most of the business man prefer to get their car washed at their places like parking, garage or home location.
- A cup of Coffee is considered to be a useful resource for relaxation. Coffee shop industry has emerged as rapidly growing and very demanding industry in past few years. This business can be start with very low investment. If you love coffee, just turn this love into a profit-making business.
Govt. is taking several initiatives to build the momentum and accelerate the progress in the small business sectors in Pakistan. There are quite a lot more profitable business including, Ostritch farming, Rabit farming, Diagnostic Center, Freelancing, Content writing, Battery Reconditioning, Real Estate, Luxury Cars, Commecial Properties, Auto Spare Parts, Wheel allignment and balancing, Solar pannels and renewable energy resources, eLearning portals, Metrimonial services, Ridesharing, Tourism agency, Event management, , Beekeeping, Poultry farming, Garments manufacturing, Dairy Products, Nyloon production, T-Shirt printing, Medical Store and much more. A young entrepreneur can definitely get benefit from these ideas. Hope this small effort will help young entrepreneurs to take a startup decision.