Smart business ideas for entrepreneurs

Rwanda is a land of amazing business opportunities. There are many ways to build a good profitable business .In fact, most people in our country don’t believe they could discover profitable business ideas to make money.

I have noticed that contrary to what most people think, capital is not the greatest challenge of starting a business; the greatest challenge is getting a very good business idea.

If you have capital and have no solid business idea in place then there is a huge probability that you would end up wasting your money and resources by investing in a business that wouldn’t bring you profitable returns.

This is why every entrepreneur must take out the time to research profitable business ideas before they invest.

Are you interested in starting business in Rwanda? If YES,In this article, I’ll share with you a few smart business ideas that address problems in our country and have the potential for success.

Reasons why You Should Start a Business in Rwanda 

Recent World Bank Group’s annual report on the ease of doing business ranked Rwanda the easiest place to do business in East and Central Africa, the 2nd in Africa, and the 56th globally.

Rwanda has the fewest procedures and fastest processes to register and start a business. It takes only Six hours to have a registered business company!!!

Register you company online at http://org.rdb.rw/

Rwanda is fast developing economically, technologically,mentally,etc and there is a huge need for innovative products. Our country is growing whether you admit it or not won’t change the fact. New companies are investing in different sectors because they see the potential that we citizens don’t see. Our country is full of opportunities both for locals and foreigners.

Our government is currently battling to tackle different problems including insufficient agriculture productivity, infrastructural decay, unemployment, accommodation, etc.

Some people believe these problems can never be resolved and if it is to be resolved, it should be done by the government.However, people with entrepreneurial mindset know that these problems are opportunities; and only those who act will turn these opportunities into profitable businesses.

Let’s explore some of the interesting business ideas to make money in our country.

1.Food processing

This is a good profitable industry to consider .There are many foods and drinks that are not really difficult to learn how to make and are in high demand.There are a lot of businesses you can do in this niche and examples of such businesses include chips production, jams, fruit juices, ice cream, yoghurts, cheese, tomatoes puree, e.t.c.

2.Community office space

In our country, there’s a need in the market for office spaces that people can rent out on a daily, weekly, or monthly basis and provide a desk, internet service, printer, storage space, and even coffee. This gives people who work for themselves a sense of community while allowing them to maintain their flexible work lifestyle.

3.Online Tutorial

In these days,Many people take online courses to make up for the knowledge they could not get in the classroom. If you can deliver online courses and tutorials on topics people are really interested in learning, people will pay for your services.

4.E-Services

This is a very promising venture for smart entrepreneurs and the best thing is that it requires Low start-up costs. you can setup a shop in Kigali,Huye or Musanze and start offering e-services to clients .Example of such e-services include Web design, web development, Web hosting, App development, Digital marketing services, Banner design services, SMS services,etc.

5.Food  Delivery business

Starting a food delivery business is a profitable business venture, and can yield a high profit for any entrepreneur who is serious about the business. All you need is to be creative as well as learn how to market your services.

6.Laundry services

This is one of the fastest growing businesses in Rwanda.There are a lot of people who are too overwhelmed by work that they may not have the time to wash their clothes. What you have to do is to keep your rates low and service quality high and thank me later.

Note: This type of business is especially profitable in a big city like Kigali.

7.Car and machinery spare parts

As our country’s economy grows, so does our manufacturing industry. This has driven a rapid increase for capital goods such as machinery, lubricants, spare parts and other mechanical goods and accessories. Find a good supplier from abroad, get a shop  and you are good to go.

8.Photography and videography

All you need is a good camera, a studio and the necessary skills, and you are good to make money.

9.Restaurant Business

In our country, the restaurant business has never gone out of fashion. If you think that you are an excellent cook or you can hire a great cook, you can start a restaurant business.

10.Bars and night Clubs

If you have capital, investing on a bar or a night club may be a profitable business. It attracts tourists or people who are looking for a fun life.

Tell us about other smart business ideas using the comment box below.