A third world country is a country whose opinion and national policy doesn’t aligns with NATO countries, capitalism, communism or the USSR. The word was mostly used during the cold war but now it has very less meaning in the present day world. There are many countries that are counted among the third world countries or to precisely as developing countries.
These third world countries could neither benefit from capitalism nor communism and thus remained a poor and under developing economy in comparison to the countries aligned with capitalism, NATO and USSR. With the fall of USSR, the things have changed and now these third world countries are going mainstream by aligning with superpowers for business purpose.
Now these countries are growing at stable speed and thus have become a market for investment and productivity for the world. Change in policy, tax laws, business laws, corporate tax, investment policy, FDI flow has been changed to make it pro-business. These countries are doing well in business in many fields. If one finds interest to try their hands out among these third world countries then here are ten business ideas that would work for these third world countries.
Alternative Source of Energy:
Countries who produce less or almost no crude oil find trouble in full filing the energy requirements in their country. Shortage of power, high oil price, less availability of electricity for public is some of the common energy related problems these countries face.
Finding an alternative source of energy can prove out to be beneficial for the country and its population. Biofuel, biogas, solar energy, wind energy, etc. are some of the common known alternative energy. A business related to them can prove to be profitable and will also serve the purpose.
Many countries now have policies that help the business who are trying in this field. Solar panel business or solar batteries, installation, installation of biogas chamber, etc. are some common methods of business in alternative energy field which can be explored to new limits.
Opportunity in Construction Business:
Any developing country will require infrastructure of standard type to meet its growth requirement. Third world countries in their growing stage are investing great sum of money on infrastructure. This investment is both government based and private based.
Government is spending money in the construction of road, dams, government institutions, etc. while private sector is spending on commercial infra, hotels, malls, shopping complex, offices and residential apartments. Either manufacturing construction materials or selling such materials has huge profit. Concrete, cement, iron rod, bricks, sand, etc. have huge demand in developing countries and there is good chance that you will earn good returns in this business. Construction is always in demand in developing countries. You should take this as a profitable business opportunity.
Corporate Policy and Solution Firms:
Since the country is speeding up in growth, making policy and laws, opening up for market economy, export and import, this is the time where the need for advisors, solution providers, policy makers, strategist, etc. will rise.
A firm that provides solutions regarding taxation, policy formation, business strategy, business plan, advice on legal and business issues, promoter, etc. can be very useful. These firms grow to new heights with advice and solution. Find out a correct place, make networks, attract new clients, hire some experts and start your solution firm. As the money flow increases you can try in new fields in business and legal field.
Technology Provider and Techno Solution Firm:
Third world countries do focus on technology as well for growth since no country can grow without adopting the latest technology. One can go for businesses selling technology products like TV, Refrigerator, AC, Computer, mobile phones, automobiles, etc. based on requirement.
To enhance your profit you can also become service provider for the same. From installation, to servicing and repairing, a complete techno solution firm will always have its say in the market. Focus on technology that is growing in that particular country and then target a market.
Like corporate houses in such countries are adopting cloud computing, going fully digital, digital payment services like using POS machine, etc. are in the news. Thus utilizing these opportunities will prove beneficial for you.
Developing countries have great consumption of media and entertainment. As the growth takes place and people become more self-dependent, they start to spend money on luxury that includes entertainment. From movies to television, smartphone and other source of entertainment, people spend a good sum on them.
One can invest in film industry, making small TV series, making YouTube contents, or they can start business of selling such appliances that are associated with entertainment like TV, video player, mobile phone, etc. There is a big market there waiting to consume whatever you produce. India as a developing nation can be a prime example where entertainment industry has big contribution to its economy and it employ millions of people.
Business Opportunity in Automobile Industry:
Automobile industry doesn’t means that you should only start with manufacturing or selling cars or motorbikes but you can invest in this sector through various means. One can open servicing center for such automobiles either as independent brand or in franchise.
You can also sell automobile parts and equipment, tires, mat, covers, etc. You can be a manufacturer at a small level or you can be wholesaler or retailer of such goods. If you have good networks and enough capital to invest then you can try your hands in taking dealership of prominent automobile giants.
There is a big market open in third world countries for automobiles. Especially, the two wheeler industry is a success in such countries where middle class people always prefer two wheelers over four wheelers due to various reasons.
Unless the law bans sale of liquor in a country, there is a huge demand and consumption of liquor in third world countries. With the growing economy and rise in per capita income, people have spent good sum on luxury and to satisfy their needs. One such luxury is liquor which has huge consumption in third world countries.
As per WHO, liquor consumption has seen a fall in developed countries while it has seen a rise in developing countries. As the spending power among individuals rise, they spend a good sum of their money on alcohol and other beverages. Given the huge consumption, model shops and liquor dealership has huge profit.
Opportunity in Education Sector:
In a developing nation, education sector is one of the most successful sector among all with huge success rates. There is 90% probability that an educational institution opened today will be successful in the next ten years or it will have positive growth. There are various education sector business ideas are there which you can start in developing countries.
As the per capita income increases among individuals, the core focus for them remains the good education of their kids. They are ready to spend money to any extent for the good education of their kids. Opening up educational institutions or investing in education sector has huge return potential. Education sector doesn’t only means schools or colleges but coaching institutions, stationary shops, manufacturer of stationary, uniform, etc.
Shopping Malls and Business Stores:
It has been seen that the third world countries in their growth have followed the model of developed country. Business ideas like shopping malls, chain stores, etc. have been copied in their business models and people too have the same craze as they have seen in developed countries.
Shopping malls have been widely constructed that have all the necessary shops for customers to buy goods and have food courts, cinema hall, play yard, etc. to match all the basic requirements. If you have good capital then you can invest either in shopping malls or you can rent a shop and sell goods by tying with some famous brands.
The revenue generated is huge as even basic food items are sold at high prices to maintain standard thus giving huge returns. If you have enough capital then you can obviously go for constructing malls and shopping stores and rent them.
McDonald’s, Dominoes, KFC, Adidas, Nike and other such international brands are very common in such third world countries. People with money equate it with status by wearing branded cloths. Thus the demand of these branded cloths is huge given the expensive price tag they have.
There is huge profit from these stores given the demand and expensive pricing thus making it a profitable business venture. Food brands are doing extremely great like McDonald’s, Dominoes, and KFC in these countries. You can take franchise of such stores in your city or locality where there is enough consumption to give you profit.
Within few months you will have good returns. India is one such example where such brands have seen immense success. Franchise partners have earned fortunes by owning such shops by providing both standard product and services.
Apart from these ten business ideas, there are many more which can be unearthed with good research for country and place specific. The basic formula for a business to succeed in such country is the demand and expenditure of people. If the demand and income per capita is in balanced ratio then the success of your business is definite.