Entrepreneurship stands out as one of the most promising research approaches that could assist Ethiopia in significantly lowering the percentage of its population that lives in extreme poverty. However, the Ethiopian government has to provide financial support for this program in order to see improved results.
Agriculture has been and continues to be the most promising source of welfare for Ethiopians. Despite Ethiopia’s inadequate infrastructure and high tax rates, agriculture contributes approximately 50 percent to the country’s gross domestic product (GDP). If you are serious about starting a business in Ethiopia, the following is a list of the top ten best opportunities for small businesses that you may look into:
1. AC Installation
A person who is able to install air conditioners and is interested in starting a business that provides AC (air conditioner) installation services should take note of the recent surge in the adoption of air conditioners across residential and commercial markets in Ethiopia. This has created an attention-worthy niche for individuals who possess the skills necessary to install air conditioners.
2. Fence Installation
It has become increasingly important for residents of Ethiopia to install fences around their homes, farmlands, schools, and factories, as well as bar access to robbers, thieves, and other criminals, among other types of intruders, due to the high incidence of crimes in the country, the majority of which involve theft and other types of intrusion, which has shown a marked increase over the course of time. To be successful in the industry of installing fences, you need solid construction skills.
3. Fruit jams
Apples, pears, mulberries, and strawberries grow well in Ethiopia, providing excellent potential for business owners interested in adding value by producing and selling fruit preserves.
4. Flour mills
Since Ethiopia is so prosperous in the production of grains like wheat, barley, corn, and so on in large quantities, the country has a need for milling plants that produce flour.
5. Fresh Juice Business
In contrast to many other types of enterprises, operating a business that deals in fresh fruit do not require you to have a thick skin. It is a simple business that is in high demand these days (thanks to an increased awareness of the importance of maintaining a healthy lifestyle), and it offers the possibility of large returns on investment.
6. Catering Services
The consumption of food is an essential component of every gathering. It is even difficult for people to create magnificent cuisine on their own as the world’s events continue to become more complicated than they have ever been before. As a direct consequence of this, the need for food caterers at events is growing steadily over time. Therefore, if you are blessed with the ability to conjure up delectable dishes using both of your hands, you ought to give some consideration to starting a catering business.
7. Skincare Products
Skincare products, particularly multifunctional ones, are becoming increasingly popular among men and women alike. This is due to the fact that these products give a package of benefits all at once, including anti-aging, cleansing, protection from UV rays, and so on. Consequently, a fantastic potential for a small business that you can think about pursuing today in your community.
8. Open a Hair Salon
Barbers will always have a place in our societies because as long as we have them, we humans will never go out of style. They are necessary in order to improve our facial features, make us look more attractive overall, and reduce the amount of facial hair that, if not removed, would make us appear to be wild creatures. Therefore, opening a hair salon is yet another excellent business opportunity available to men in today’s modern world.
9. Organic Food Store
People consistently choose organic foods over conventional foods while they are eating out because organic foods are safer and healthier than traditional foods. Therefore, it would be worthwhile to operate an organic food store in today’s market.
10. Dance School
Since dance segments began to appear on television shows, an increasing number of people—especially young people—have been enrolling in dance classes in order to hone their dancing abilities. Therefore, if you consider yourself to be a rather skilled dancer, you can think about starting your own dancing school.