Are you looking for untapped business opportunities in South Africa? If your answer is yes, then this post should help you out with a few ideas.
South Africa is known as Africa’s powerhouse. It is the continent’s driving force, with its most advanced, broad-based economy. Of course, certain aspects of expansion in the country require special attention. However, the World Bank and the International Finance Corporation (IFC) rank South Africa 82nd in the world for ease of doing business.
Despite the economic slowdown caused by the COVID 19 epidemic, there are industries performing considerably well. What’s remarkable is that the demand for some companies’ products is so high that even industry leaders can’t keep up.
There are various untapped business opportunities in South Africa. If you know where to search, you can make a lot of money. Small businesses are considered as major drivers of economic growth in South Africa.
Untapped Business Opportunities in South Africa Today
South Africa is a great place to do business. We have put together a list of untapped business opportunities in South Africa below:
Social media consulting
Not only is social media transforming our long-established social landscape, but it’s also affecting how we conduct business. Almost everyone in South Africa uses popular social media platforms like Instagram, Facebook, Twitter, and WhatsApp. By promoting companies as social media consultant, you can take advantage of the ever-growing online community.
You can set up and run your company from the comfort of your room. If you lack the necessary abilities to begin this business, you can search for and enroll in professional courses. Access these courses via Google, Udemy, and other online training platforms. This business opportunity has boundless potential and will surely pay off handsomely. Even better, social media management tools are currently on the market that may make your work more accessible and comfortable.
Human Capital Development
Having a firm, business, or service that educates is important in South Africa and worldwide. Many talented people exist, however, they lack experience and essential skills. The Central Connecticut State University ranks South Africa 56th out of 60 countries for computer illiteracy and lack of education.
This statistic presents you with a unique business opportunity. Offering a product or service that aids in improving Africa’s education gap could be extremely beneficial in the long run.
Delivery Services
Most of the things that we use daily are shipped from different locations. The delivery business is becoming a big deal all over the world including South Africa. This is mostly because of the growth of the e-commerce industry. For this reason, setting up your delivery Services business is a big game-changer both in South Africa and worldwide.
You would need to hire one or two trustworthy employees. It is also critical that you demonstrate your trustworthiness to your clientele to build a good track record. Of course, your company should have an excellent business plan outlining your complete business strategy.
Off-Grid Solar
While many countries debate their energy transition strategies, Africa is welcoming of renewable energies, particularly solar. In most parts of South Africa, there are more than 2500 hours of sunshine each year. There is also an average solar radiation level of 4.5 to 6.5kWh/m2 in a single day.
South Africa receives roughly 220 W/m2 of yearly global solar radiation. In South Africa, solar energy is the most readily available resource. It has a wide range of possible applications, and the country’s solar equipment business is growing. If you are experienced in this sector, then you can enjoy immense profitability.
Healthcare Business
On the 2019 Global Healthcare Index, South Africa is ranked 49th out of 89 countries. According to 2018 statistics, men have a life expectancy of 61.1 years, and women have a life expectancy of 67.3 years. Both are below the global averages of 67 and 71.1 years, respectively. Its infant mortality rate has decreased to 36.4 per 1,000 live births. This is higher than the global norm of 29 per 1,000 births set by the World Health Organization (WHO).
The healthcare sector is highly competitive, as many people in South Africa (and other cities) require convenient access to healthcare. As pharmaceutical companies turn their attention to Africa, this sector is rapidly expanding. If you are a medical practitioner, consider this one of the several untapped business opportunities in South Africa. You can set up a medical transcription service, a diabetic care center, or a home health care service.
Freelancing
Writing, editing, proofreading, or doing anything else in this sector is a valuable ability. The allure of writing and editing and proofreading is that there will always be a market for it. Becoming an expert in this industry and earning money is pretty easy once you have a good grasp of the English language.
The business is very easy to establish. You don’t have to leave your house to work when you freelance. Jobs in this sector come with a lot of independence, which necessitates careful time management. As long as you have professional or creative skills, there are freelance jobs available to you.
Creative Artistry For Homes
Interior and exterior painting jobs are plentiful in South Africa, thanks to the burgeoning real estate market. For triple revenue streams, you can use flawless painting and related artistic labor.
One advantage of the business is that it is inexpensive to start and maintain. Also, it is less competitive because few individuals can generate authentic design work. Artistry is a fantastic investment because of the ever-expanding industry, which attracts well-paying clients throughout the year. In this business, creativity is key. So if you think you have what it takes to succeed in this field, hone your abilities and start earning money.
Conclusion
There are several untapped business opportunities in South Africa today. It is evident from the list of business ideas in South Africa above that the country offers numerous business prospects. Successful entrepreneurs tend to be excited by what other people are too afraid to do. Which idea most excites you from this list?