Thinking of starting your own business in Nepal? In spite of the fact that Nepal is a country of crisis. Sometimes about electricity, water, fuel, unstable government, and stupid rules they introduce with no proper planning. Taking the risk and fighting all the difficulties and crisis can open door to opportunities. As they say, necessity is the mother of innovations.
Let me be clear, starting a business in Nepal is not for the ones who lack the courage to face the huddles. The fact is true for starting a business all over the world.Uncertainty is a sure shot phase after some months of execution. And about the demand for your products and the competition is very unpredictable. You need to buckle your seat to venture into a new world. Competing with its established business with its loyal consumer base and penetrating the market is the very first challenge. But looking at the bright side Nepal is still a developing country and there is numerous unexplored niche. The number of educated people is increasing day by day which has resulted in an increase in the number of job seekers, people with new innovative ideas, hardworking, enthusiastic people.
The following are the field gotta explore and invest that have tons of opportunities and chances of faster growth:
Hydropower has a huge potential to grow. Even though44,000 MW is it's our potential, but 800 MW currently being generated. Nepal has not been able to exploit much of its potentiality and of course, the people in Nepal still face severe power shortages. In order to harness and develop hydropower, the government is encouraging private foreign investment in Nepal. In the last several years, the government has been granting licenses to private sector developers with over 5000MW of hydropower production in various stages of progress where well known international and domestic firms are involved.
Tourism is a sector with enormous potential. Nepal is known for spectacular natural beauty and especially known as a land of Mount Everest - the Top of the world - and seven other peaks of 8,000 meters. We have a rich cultural heritage and a great diversity of ethnic group with a unique tradition. Lumbini in western Nepal is the birthplace of the Buddha, while Durbar squares in Kathmandu valley is a perfectly preserved historical town full of Hindu temples. Tremendous opportunities exist in developing tourism, hotel business in Nepal.
As a developing nation, Nepal has made great strides towards modernizing Digital Entrepreneurship. Digital entrepreneurship and tech startup innovation, in particular, has been a driving force in the nation’s economic growth. From online job portals to gaming, from software to videography each field has been performing well in their niche.
We’ve heard it a little too often that Nepal is an agricultural country. But you know what this sector is really lagging behind. The real scenario is very pitiful as we are importing are our goods from different countries as the production of Nepal is very low both in quality and quantity. Therefore any business in Nepal with quality to compete for the market can easily take over the country.
Infrastructure development is undeniably one of the best sectors to invest in Nepal. The creation of infrastructure plays an important role in the success of the country’s economic condition. The companies that offer infrastructure building services have a lot of scope in the Nation. Here are some reasons why infrastructure business can flourish in Nepal are: poorly developed transportation call for the need to build it. Earthquake in 2072 broke down those that were existing. Telecommunication and remain deficient in rural areas for sustainable development.
Nature is blessed with resources be it water, minerals, forests or diversified flora and fauna. From decorative minerals to the strongest one Nepal has been home for all. The following reasons add to investment scope: There are many unexplored places and resources, there is less number of mineral extracting businesses. That means very less competition. The industries like cement, industrial lime, agriculture lime, brine water, coal, limestone, talc, gold, clay etc. has been quite well. Therefore, Investment in potential mineral resources has proven to be highly rewarding.
Health and education are the other best sector to invest in Nepal. The sector of health needs a lot of modernization. This is the major reason to invest in the health sector is that it is a profitable sector in the market of Nepal. Similarly, Education is another sector that needs a lot of improvement. People in the country are gaining interest in allowing their children to achieve quality education in the best schools and colleges possible. Starting up a good educational institution or a qualitative health institution is a lot of profitable.