The much-awaited agreement with the IMF has been signed. However, it hasn’t delivered the promised wonders for the common man. Reversing the tide of soaring inflation, almost reaching 30%, and a sharp increase in unemployment would require more than just a few crumbs from international financial institutions.
The worst is likely yet to come, with economic growth projected to be less than 1% for the fiscal year 2023-24, while population growth remains steady at 2.6%. In light of these challenges, all governments seem to lack out-of-the-box ideas and resort to taxing the middle class, further squeezing their finances.
Given the devaluation of the rupee and the lack of disposable income, what should one do? While options may be limited, there are still several businesses you can start with a minimum capital of Rs.1 lakh. OLX Pakistan provides a strong launching pad to help you succeed. However, the following list contains some ideas that you can implement independently of our platform as well.
- Mobile repair shop – This is a low-cost, low-risk business that can be started with a small investment. You can either start your own mobile repair shop or franchise a popular brand.
- Dry cleaning service – This is another low-cost business that is in high demand. You can start this business from home or rent a small space.
- Food stand – This is a great business for people who love to cook and want to be their own boss. You can start this business with a small investment and sell food at local events or in busy areas.
- Online clothing store – This is a growing business opportunity in Pakistan. You can start an online clothing store with a small investment and sell clothes to people all over the country.
- Tutoring service – This is a great business for people who are passionate about education. You can start a tutoring center in your home or rent a small space. You can offer your services online as well.
- Pet grooming service – This is a growing business opportunity in Pakistan. Pet owners are increasingly looking for professional pet grooming services.
- Event planning business – This is a great business for people who are creative and organized. You can plan events for weddings, birthdays, corporate events, and more.
- Digital marketing services – In the modern world, almost everyone desires promotion, and social media has become the primary choice for widespread digital promotion due to its extensive usage. Therefore, starting a small digital marketing firm presents an excellent opportunity.
- Web development agency – More and more businesses are looking for professional web development services.
- App development company – This is a new and growing business opportunity in Pakistan. More and more businesses are looking for professional app development services.
- eBook publishing – If you possess strong writing skills and a passion for books, starting an eBook business can be a lucrative venture. Numerous platforms, such as Amazon, offer free publishing options.
- Blogging – Blogging can earn you money. By incorporating sponsored content, Google AdSense, and affiliate marketing, bloggers have multiple revenue streams.
- Freelance writing – If you can create engaging content, you have a valuable gift. Numerous websites like Freelancer, Upwork, and Fiverr offer payment for writing services, including website content, blog posts, newsletters, newspaper articles, and more.
- Translator – Are you proficient in Chinese? In Pakistan, the demand for Chinese-to-Urdu translators is rising due to CPEC. The significant advantage of this business is that prior experience or special equipment is not necessary.
- Vacation host – If you have a home in Gilgit-Baltistan or some other touristy place in Pakistan, you’re lucky. Advertising it on platforms like OLX Pakistan or registering it on Airbnb, can earn you extra income. Consider offering additional amenities like laundry services, bed and breakfast, and transportation to further boost your earnings.
- Personal chef – If you have a passion for cooking, advertise your services on OLX Pakistan or create an online page, promoting your business, etc.
- Baking – If you excel in baking, capitalize on your skills and turn it into a source of income. Accept orders for various occasions such as birthdays, bridal showers, weddings, and small events. Begin by creating an Instagram account, showcasing your creations, setting a menu, and spreading the word among friends and family.
- Teach arts and crafts – If you possess artistic talents, you have a ready-made business opportunity. You can conduct craft classes such as sewing, scrapbooking, photography, painting, knitting, kid crafts, and crocheting at your home or online.
These are just a few ideas to get you started. There are many other businesses you can start with Rs.100,000 in Pakistan. Do some research and find a business that you are passionate about and that you think you can be successful in.
Best Business Ideas in Pakistan
All business ideas could be the best given you have:
- Done your research. Make sure you understand the market and the competition before you start your business.
- Created a business plan. This will help you to stay on track and achieve your goals.
- Got the right permits and licenses. Make sure you comply with all the legal requirements for starting a business in Pakistan.
- Networked with other entrepreneurs. This is a great way to learn from others and get support.
- Patience and persistence. It takes time and effort to build a successful business. So, don’t give up!
Disclaimer: The content provided is for general informational purposes only and does not constitute financial, economic, or investment advice. The mentioned businesses with a minimum capital of Rs.1 lakh are illustrative examples and may not guarantee success or profitability.
You may also like to read:
Innovative Ways to Make Money in Today’s Pakistan
Small Business Ideas in Pakistan to Start With Rs.50,000 on OLX
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