If you are looking forward to starting a small business in Sri Lanka, then pick one from this list of top 10 profitable business ideas and opportunities.
One of the biggest issues that have deterred Sri Lanka to become a vibrant economy is the occurrence of frequent communal violence. See, nations with peaceful environment develop faster than those that lack it as peace among people brings happiness and happiness, in turn, boosts development. Sri Lanka requires to sustain a great communal harmony.
Sri Lankans also need to support governments that have especially post the end of civil war in May 2009, shown a lot of character to revamp their country’s struggling economy.
Here are the top 10 profitable business opportunities aimed to inspire the aspiring Sri Lankan entrepreneurs to develop further the country’s economy:
1. Airport shuttle service
More than 1 million international tourists are being received by Sri Lanka annually through airplanes. These tourists require transport to be able to move from airports to their holiday destinations and vice versa. Keeping this need of tourists in mind, interested persons can open a shuttle service business in Sri Lanka.
An airport shuttle service business doesn’t demand you more than a vehicle in good condition, driving skills and of course a driving license. This business can be operated on a part-time basis as well.
2. Allergy translation cards
Those who look for work in Sri Lanka’s growing tourism industry but are on a budget may consider an allergy translation card making business. Allergy translation cards tackle away language barriers. These cards are used by allergy sensitive tourists to convey the restaurant staff to avoid the use of a food that causes allergy to them in their native language.
3. Eco-Tourism business
There are a lot of destinations like Sinharaja Rain Forest, Buttala, Knuckles Mountains etc that are being passionately explored by tourists for adventure travels. If you live up near any such place that offers the great prospect for such travels, then you could consider starting an ecotourism business to educate visitors about the place, community, and environment and hence get paid.
4. Tea production
Sri Lankan tea enjoys the great demand in overseas markets particularly in Iran, Pakistan, the United States etc. However, the local tea production capacity hasn’t yet reached its full potential.
Prospective entrepreneurs can bring in export revenue into the country while exploiting the easy availability of ideal geographical and climatic requirements for tea production in Sri Lanka to the fullest.
5. Tobacco production
Even though people whether those who live in Sri Lanka or anywhere else in the world know the fact that tobacco kills, yet they smoke.
Domestic demand for tobacco in Sri Lanka is so stupendous that even thousands of suppliers can’t match it. More tobacco production units are thus required in the country.
Aspiring entrepreneurs benefit from the availability of land which is supportive for tobacco production and cheap skilled labor in Sri Lanka.
6. Coconut production
Sri Lanka ranks fifth in the production of coconut commodity in the world. There are many commercial uses of coconut such as deodorants, toothpaste, body lotion, and many other products.
The coconut cultivation has the potential to become a significant catalyst in the growth of Sri Lankan economy as the demand for coconut and its value-added products are high internationally. But, unfortunately, due to drought conditions, the local supply is struggling to meet this great international demand.
Sri Lankan government needs to search for ways to avoid the poor effect of drought on coconut cultivation. That would ensure the control on local prices as well as the avoidance of losses incurred when a ban is imposed on coconut export.
7. Value-added textile products
The textile industry has been the cornerstone of Sri Lankan economy over the past four decades. However, the involvement of local entrepreneurs in the textile value chain is very low. There are many value-added textile products such as buttons, zippers, hook and loop fasteners, embroidery works etc that hold great promise for advancing the economic status of many people in Sri-Lanka.
8. Rock climbing gear
If your local place attracts tourists to enjoy mountaineering activity, then you could certainly run a successful rock climbing gear rental business.
9. Taxi Service
If you own a car, you might get interested in offering a taxi or cab services to visitors at your local place.
10. Fishing equipment rental
Someone living a place that offers a rich experience for picking up fishes from streams, ponds and other water bodies can start a fishing equipment rental business there.