Top business in Pakistan is the most searched query in 2023 in Pakistan. Many people fight to catch job opportunities and make money to survive in Pakistan. However, they are also finding secondary income opportunities because of the recent high inflation in Pakistan. Moreover, unemployment has also increased in recent years, and more people are finding business opportunities as no jobs are available in the market.
Moreover, in recent years, Pakistan has appreciated the increasing intent of the entrepreneurial motion, with many industries growing nationwide. These businesses fall into small-scale industries to large companies categories.
This article will explore the top businesses in Pakistan that you can start in 2023 for secondary income or self-employment. Whether you are a housewife, student, or anyone finding to change to a new profession, these businesses can deliver a feasible choice to make revenue and attain business freedom.
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How to Start a Business in Pakistan
To start a new business in Pakistan, you will require vigilant planning and attention to several aspects.
- It would be best for you to start a business by finding a feasible business idea
- Secondly, you must conduct market research to determine the possible demand for your product in Pakistan. Moreover, market research will initially provide an overview of your competitors, target market and possible problems.
- If planning a big-scale business, you must register your company with the SECP. Otherwise, you can start your business by registering a sole proprietorship with FBR.
- Moreover, you will get all essential licenses to do business legally because you do not want to stick to any legal formality while you are busy with your success
- You must arrange funding depending on your plans, like an angel loan (loan from friends and family members), bank loan, investor, or government grant.
- It would be best for you to make a detailed business plan to invite investors.
- After a business plan, you must select an appropriate site for your business near your target market that has the essential resources, facilities, and infrastructure.
- Human resources is also a critical control point of a business so that you will find the best staff for your business according to the requirement
- You have to plan a marketing strategy to [promote and flourish your business initially. However, you must focus on your product or service quality because the first time, you can attract a client through your marketing strategy, but in the end, your product or service will force your customer to buy again
- To ensure smooth and efficient business operations, you will also plan your operations, like production, stock, transportation, and inventory management.
- You should comply with local laws and regulations to avoid problems during startup.
Top Business in Pakistan
We will list down the top busienss in Pakistan in 2023.
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E-commerce
The E-commerce business model involves purchasing and selling services or products online, typically via a platform like Daraz or your personal website or mobile application.
As an entrepreneur, an E-commerce business is the best option if you want a top business in Pakistan in 2023. In addition, Pakistan’s E-commerce industry has grown considerably in recent years and is likely to remain growing in the coming years.
The best explanation for the growth of e-commerce businesses in Pakistan is that Pakistan has over 220 million people and a fast-growing middle class; Pakistan compromises a vast marketplace for E-commerce businesses to flourish.
Why you should start an e-commerce business
Firstly, Mobile phones and the internet have penetrated Pakistan society which is the major requirement for any e-commerce platform. Moreover, in recent years Pakistan has had a quickly rising digital structure, with more and more people purchasing smartphones and internet access
Secondly, We know that if any government takes initiatives for a specific industry, then the specific industry has maximum chances to grow in the coming years. So, the Pakistan government has been taking serious measures to promote e-commerce in Pakistan in recent years and making policies like tax incentives, training programs and loan schemes for the e-commerce industry in Pakistan.
Finally, You do not have to maintain a huge inventory for an online business startup. You can buy products as low as you want to start an online business. So, low startup costs related to E-commerce businesses in Pakistan make it an eye-catching choice for entrepreneurs.
Health and wellness
Health and wellness business offers services or products that promote health and wellness. Moreover, These businesses include healthcare gyms, fitness centers, healthcare practitioners and nutritional supplement companies.
As a health and wellness business owner, you can offer services and products that help people to improve their mental, physical, and emotional health.
Why you can start a health and wellness business
Health and wellness is another top business in Pakistan in 2023.
- More people are conscious of their health and wellness than ever before. Moreover, they are finding products and services related to health and wellness to achieve a healthier lifestyle.
- Pakistan has over 220 million people, with a major proportion falling into the younger age group who love to maintain their health and wellness.
- However, Pakistan’s health and wellness industry is rising daily but still has relatively little competition in some market segments.
- The health and wellness industry has shown a surge in recent years. So the number of entrepreneurs who will establish their business in the health and wellness industry will grow higher in the coming years.
Renewable energy
The renewable energy business is about producing, supplying, installing, or maintaining renewable energy technologies. Renewable energy technologies produce energy from natural and sustainable sources, such as solar, wind, hydropower, and geothermal. Moreover, humans are looking at these technologies as an alternative to old fuel-based energy resources due to their low environmental effect and cost-effectiveness.
The following terms are included when we talk about the renewable energy business.
- Manufacturing of renewable energy equipment.
- Distribution of renewable energy products.
- Installation and maintenance of renewable energy systems
Why we start renewable energy business
Renewable energy will be the top business in Pakistan in 2023 due to the following factors.
- Energy demand is increasing daily in Pakistan, and Pakistan has had a shortfall of energy for the last 15 years. People have been facing load shading for the last 15 years and are trying to get other energy resources to fulfill their demands, like generators and UPS. However, solar energy demand has been increasing in recent years.
- Energy prices are increasing on short-term notice and going out of reach for the common man. So, more people are going for alternatives to regular energy resources.
- The government of Pakistan is making favorable policies for renewable energy resources to avoid climate change and dependency on imported fossil fuels. Policies are about tax exemptions, feed-in tariffs and incentives for entrepreneurs.
- Pakistan has vast natural resources for renewable energy like 10-month solar radiations, wind corridors and water resources for hydro energy generation.
Education technology
Education technology uses technology to support and improve learning and teaching processes. Moreover, we also say it as EdTech. You can provide services and products that support education technology, like learning management systems, digital content, educational apps, and online tutoring.
As an education technology business owner, you can offer technical training and development for instructors to support them in effectively integrating technology into their educational practices. You can operate education technology businesses as consulting firms, software development companies, online platforms or content providers.
Why we start Education technology business
We list why you should start an education technology business in Pakistan.
- Pakistan has had great advancement in technology since 2003 and growing daily. Moreover, almost 54 million children are school-going, and their parents are looking for quality education at their doorstep. In addition, many surveys indicated that parents use technology to give quality education to their children. So, you can produce quality education technology platforms to attract them.
- The government of Pakistan also has launched an education technology platform to enhance the adaptation of education technology among a new generation.
- Furthermore, Schools, colleges and universities used education technology in covid era and found great success, and they are continuing the education technology. So, you can suggest an enhanced education technology module.
- The government of Pakistan also took several steps to promote education technology like Laptop schemes, e-learning programs, and improved internet facilities throughout the country.
- On the other hand, education technology is also a cost-effective solution for learners because they can get a quality education with low fees or sometimes free-of-cost initial courses.
Mobile app development
The Mobile app development business creates software games and applications on mobile phones and tablets. You can create communication, entertainment, e-commerce, education, and productivity apps.
You can provide facilities to customers in several businesses, from startups to large organizations. Furthermore, you can also provide specialization in different zones, such as cross-platform app development, native app development, and hybrid app development.
Why you can start a mobile app development business
The mobile app development business lies in top business in Pakistan and has promising opportunities for several reasons:
- Pakistan has almost 191.5 million active smartphone users, and increasing rapidly. Moreover, the smartphone has crossed 6.8 billion worldwide. So, you can make different apps for different users, like Pakistani users and worldwide.
- Mobile apps for a business are cost-effective and easy to maintain, so people in startups like to develop an app for their businesses.
- Pakistan has more skilled forces than ever and is also available cheaply. So, as a software house, you can hire a mobile app developer more easily and cheaply than a web developer.
- Due to the highly skilled workforce available in Pakistan, you can also work as a freelancer and grab work from different platforms like Freelancer, Upwork or Fiverr worldwide.
- Pakistan’s government supports software houses like tax exemptions, developing technology parks and improving internet infrastructure.
- Mobile app demand has increased worldwide, and Pakistani developers are doing business internationally. However, you have to provide quality mobile apps to compete internationally.
Travel and tourism
The travel and tourism business provides tourist facilities like hospitality, travel, and tourism. You may also provide tour packages like transportation, accommodation, food and beverage.
Why you can start a travel and tourism business
- Pakistan has a vast history, stunning natural beauty and diverse culture. It has many tourist attractions listed below.
- The attractive Hunza Valley,
- The ancient city of Lahore,
- The magnificent Karakoram Mountains
- Historical Taxila city
- Historical Mohenjo-Daro
- Hunza valley
- Skardu
- Swat valley
- Naran Kaghan
- Gilgit Baltistan
- Chitral
- Deosai national park
- Pakistan also has several UNESCO World Heritage sites.
- Indus Valley Civilization
- the archaeological site of Takht-i-Bahi, and
- the fort and Shalimar Gardens in Lahore.
The travel and tourism industry has been treated as a top business in Pakistan due to its significant potential for growth and development.
The government of Pakistan has taken numerous initiatives to encourage tourism, as follows.
- Visa reforms,
- The construction of new airports, and
- The development of tourist infrastructure.
Fashion and apparel
The fashion and apparel business contains designing, manufacturing, marketing, and selling clothing and accessories. We can introduce products like casual wear, formal wear, fitness and sportswear, footwear, ethnic wear, and fashion accessories such as belts, handbags, and jewelry.
Moreover, the fashion and apparel industry is changing rapidly and has tough competition because trends change regularly. You can start a fashion and appeal business from a small boutique to a large organization. Additionally, you can also start a fashion and apparel business online.
You must remain updated with new trends to succeed in the fashion and apparel industry. Moreover, you have to focus on your brand identity for long-term business. However, your brand identity will depend on new trends and the quality of the product. Furthermore, it would help if you did not even think to cheat your customer.
Why you should start a Fashion and apparel business
You are looking for top business in Pakistan, and the fashion and apparel industry always remains in top business in Pakistan. So, we are listing why the fashion and apparel business remains the top business.
- Pakistan is an important market for the fashion and apparel industries due to its sizeable population of over 230 million people. The nation has many cultures, each with its distinctive clothing designs. You can provide products to a broad range of potential buyers.
- You can produce high-quality apparel products in Pakistan at a low cost
- Pakistan also has skilled fashion and apparel industry workers at cheap salaries for production, marketing, sales, and designing.
- The government of Pakistan also facilitates startups in the fashion and apparel industry for export, like trying to expand international markets, giving incentives to the garment industry, etc.
- Pakistan is an apparel exporter, and the government supports the textile and garment industry in exporting products. Moreover, Pakistan has a reputation for producing high-quality apparel.
Home-based bakery
A home-based bakery is a business where you can prepare and sell bakery products from home. You can offer unique baked products like cookies, cakes, bread, cakes, and pastries. Moreover, you can also claim a clean kitchen for home-based bakery products.
The primary target market is online platforms like Facebook, Instagram, etc. Furthermore, you can also touch local grocery stores to sell your products on margin.
However, If you are interested in baking and are proficient in baking new products, then the home-based bakery is favorable for you.
Why you should start a home-based bakery
Food is always a top business in Pakistan; we have all witnessed single bakery branches to large organizations like Gourment, Butt Sweets, Shezan Bakery, etc. So you can also start a home-based bakery and flourish your business into a small or large organization. However, it would help if you produced a great business plan. We are also sharing points for why you should start a home-based bakery.
- Bakery items like bread, cakes, pastries, bun, rusk, and cookies multiply.
- You can also start a home-based bakery at a low cost because you have not handle an outlet and also not handled a lot of labour for production.
- Moreover, you can have flexible time according to your schedule for home-based bakery product production.
- Homemade products are in tred in Pakistan, and more people like to buy and have trust in homemade hygenic products
- You can quickly start an online business with home-based bakery products
