What is the most profitable business to start in Pakistan?
Starting a business in Pakistan can be difficult, but it can also be very rewarding. Many people are interested in starting businesses, but not everyone is sure how to go about it, or what kind of business might be most profitable. There are various factors that you need to take into consideration before deciding on the type of business that will work best for your specific situation and location in the country. If you want to find out more about how to start a business and what options may work best, keep reading!
Computers, Networking & IT
Computers, networking and IT products have always been a booming industry. However, with the evolution of technology, more and more startups are now finding it easier than ever before to enter this field. If you're interested in starting a career as an entrepreneur in computers, networking and IT products, there are many different types of businesses you can consider launching.
Sales & Marketing
A sales and marketing plan will help you create a clear picture of who your customers are and how you'll reach them. The best part of a sales and marketing strategy is that it doesn't have to be expensive. You can use social media, blogging, email marketing, print advertising or any number of other channels.
BPO Outsourcing
Pakistani's are looking for many different types of employment opportunities. With so many people looking for jobs, it can be difficult to decide what type of work one should pursue. One thing that you may want to consider is outsourcing your BPO services. Outsourcing lets you hire freelance employees at much lower rates than paying full-time employees. And since they're freelancers, when they finish with a project and move onto something else, there's no need for any type of paperwork or formal dismissal process.
Advertising & Public Relations
As a form of marketing, advertising is a way to reach consumers with messages about products and services. Advertising can be done through newspapers, magazines, radio, television and the internet. Public relations (PR) refers to promoting and managing an organization's public image by using tools such as press releases and publicity stunts.
Health Care
The health care industry will likely be one of the industries that will grow at a fast pace. In recent years, it has been estimated that there has been a four percent annual growth rate for this industry. The population of Pakistan continues to grow, and as it does so, there is an increasing demand for health care services. This means that there are more opportunities for people who are interested in investing in this industry.
Financial Services
The financial services industry has been one of the fastest growing sectors worldwide, making it a great place for aspiring entrepreneurs. In Pakistan, banking and insurance are regulated by the State Bank of Pakistan and companies that offer these services need an approval before they can operate. With this in mind, it is important to do your research before starting a financial service company.
Textiles & Leather goods
Pakistan has a thriving textile and leather industry. The country's textile exports are valued at over $4 billion annually, which makes it one of Pakistan's top three export industries. As for leather goods, there are more than 1,500 tanneries in the country that produce 2 million hides per year.
Agriculture
Pakistan has a population of 207.8 million people and agriculture only makes up 3% of GDP. Agriculture thrives in one-third of Pakistan's land which can be attributed to its fertile soil and natural resources like water and forests. The main crops are wheat, rice, sugar cane, cotton and corn. There is also the potential for exporting livestock products, fruits and vegetables.
Construction
The construction industry has grown exponentially in recent years, and it's a great time for those looking for a career. The construction industry is predicted to grow by 2.4% this year, so there are plenty of opportunities out there. However, if you want a more stable career with less risk, you should consider getting into roofing repair instead.
Education Sector
Pakistan's education sector, which employs more than 100,000 people, has been one of the key drivers of growth in recent years. In 2015-2016, international aid projects helped create 1.6 million new school places and there are still 2.5 million children without access to education.
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