To promote entrepreneurship among young people, we have come up with this list of 10 new business ideas in Bangladesh that are profitable and will work well today. These businesses don’t require much startup capital, making them perfect for those who want to start their own business on a shoestring budget. In addition, all these businesses can be operated from home or from your office, making them ideal if you’re looking to run a side hustle or start your own business as an extra source of income.
Table of Contents
Top 10 New Business Ideas in Bangladesh
Healthcare businesses are booming, and with good reason: health is wealth. From hospitals to personal trainers, healthcare professionals are readily needed. If you are interested in launching a healthcare business, consider some of these top new ideas.
Approximately 62% of all children aged 5–17 are enrolled in primary school, and 50% of them are girls. According to 2001 estimates, 25% of males and 7% of females remain illiterate. Secondary education is available through completion of either grade 9 or grade 10 (age 15–16), depending on gender.
One of Dhaka’s biggest industries, tourism has seen a huge boom in recent years. Visitors are drawn to Bangladesh for its natural beauty, including beaches and tropical forests, as well as its rich cultural heritage. In 2013 alone, tourists spent over $10 billion in Bangladesh. Tourism is an easy industry to enter; there are few barriers to entry and plenty of room for growth. Many attractions rely on small investments from local entrepreneurs who can guide visitors through their sites or offer food or entertainment nearby.
4) Agriculture and Fisheries
According to World Bank reports, 70% of all jobs in developing countries are found in agriculture and fisheries. These employment opportunities exist both directly (as farmers) and indirectly (as factory workers, retailers, wholesalers). As such, countries with a well-developed agricultural sector generally enjoy high levels of economic growth. These growth prospects are reflected in recent surveys that show 90% of Bangladeshi men would like to work within their country’s primary industries.
5) Information Technology (IT) Sector
IT is already one of Bangladesh’s most prominent industries, and recent government pushes toward development have led to much more growth potential. In fact, by 2018, it’s predicted that almost 50% of all Bangladeshi businesses will be IT-based. And what’s even better: according to one survey, 77% of all respondents reported they had no knowledge when it came to starting a business.
6) Mobile Technology
Mobile technology has taken over, and it’s only getting better. One of the most interesting places to see mobile tech is in business. From point-of-sale systems to inventory management, there are tons of ways for you to use your smartphone or tablet for business. Plus, apps like Square make it easy for anyone with a smartphone to accept credit card payments also. And now that mobile technology is pretty much everywhere, there’s never been a better time to open up a new business!
7) Banking Sector
At first glance, you might assume that doing business in banking is impossible. But that couldn’t be further from reality! The sector has a host of opportunities for entrepreneurs and investors who are willing to invest their time and effort into its growth.
8) Entrepreneurship Section
Every year, millions of entrepreneurs launch new businesses. Many fail; some succeed beyond their wildest dreams. And there’s a lot you can learn from both groups. We’ve rounded up 10 of our favorite business ideas from around the world, representing a range of industries and reflecting diverse backgrounds and nationalities. Some started with little capital; others were established enterprises relocating to emerging markets or entering new industries (such as retail). They all have three things in common: originality, commitment and success.
9) Financial Service Provider's (FSPs')
There are hundreds of financial service providers (FSPs) operating in Bangladesh. They provide a range of financial services including savings and deposit, loan, payment processing, money remittance and insurance. Of these, microfinance institutions (MFIs) are attracting substantial investments as they play a key role in poverty alleviation. Some other areas getting funding attention are agriculture financing and retail financing. Latest trends indicate that FSPs are venturing into new businesses like crowd funding, crowdfunding and peer-to-peer lending.
10) Construction Sectors
The construction sector is one of our fastest growing sectors at present. Many people are opening their own companies to fill up spaces. If you’re someone who’s new to construction business, you may be wondering what would make for a good company name. You don’t want to select a generic name because there will be many others using that same name and your clients won’t know which company they should trust when looking for a contractor or building service provider.
Consultation of New Business Ideas in Bangladesh
If you’re looking for new business ideas, you may want to consult your family and friends. They may provide you with some insights as to what kind of business could thrive there and make you money. In addition, it’s important to contact local businesses and associations to see if they’ve created any guides or lists of recommended businesses. This will give you insight into how much competition there is for various industries.