10 Small and Medium Business Opportunities in Ethiopia for 2023Feb 23, 2023 10:00AM ● By Burns Johnson
Ethiopian business opportunities can seem daunting due to the country's expanding economic scene and the fact that the government still needs to develop many sectors.
It opens up an opportunity for individuals that are actively enterprising and hoping to get a more significant piece of the pie that is Ethiopia's growing economy.
Especially now with the new reforms taken place by Prime Minister Abiy Ahmed, who is tackling large corporations and opening the door for small to medium traders, producers, and service sector players.
Hard work, dedication, and discipline are the only ingredients an average Ethiopian needs to grow his income and live the life he deserves.
Here are 10 business opportunities that can be helpful for those with substantial financial backing or those with limited savings hoping to start a meaningful and profitable business in Ethiopia.
1. Child Care Service/School
Child Care Service, or as it is also known as daycare service, is the supervision and care of multiple children at a time. Their ages range from a baby of 6 weeks to a child of about 13 years. The quality of the child care centre in Ethiopia will significantly affect the child's overall development; therefore, a clear mission objective of the school must be printed and displayed.
2. Brick Making
Construction of houses, offices, malls, government buildings, etc., has seen a veritable explosion in Ethiopia. But this boon in the construction sector is broader than huge companies with massive financial resources. Small to medium businesses can also take part and profit very well from the construction boom in Ethiopia.
3. Solar Panel Sales and Service
Solar Panel prices are reaching low levels, coupled with rapid advances in battery storage technology, and you have the facilities for a very lucratively profitable business model for Ethiopia. Any enterprising individual can now take advantage of this situation and import solar panels according to the new standards.
4. Cleaning ServicesCleaning Services or Janitorial Contracting Services are increasingly becoming in demand in Ethiopia. It is due to the many offices, especially in Addis Ababa. With the increase in the number of N.G.O.s, international companies, and local businesses, the need for cleaning service companies is increasing.
5. Coffee RoasterWhen it comes to coffee, Ethiopia is best known for its Arabica beans. These beans are grown in the highlands, where the climate is cool and ideal for coffee production.
6. Tailoring and DressmakingThese are thriving businesses in Ethiopia. There are many reasons for this, including the fact that there is a growing middle class with a need for nicer clothes and the fact that only some large retailers are selling ready-made garments.
7. Leather Goods ManufacturerThe leather industry in Ethiopia is one of the oldest industries in the country and has a long history of export success.
8. Food Processing and PackagingEthiopia has a large agricultural sector, making food processing and packaging an essential part of the economy.
9. Bicycle Repair Service
10. Mobile Phone RepairMobile Phone Repair is a massive business in Ethiopia and the world. One research conducted in the U.K. states that people have spent over 1,000,000,000 Pounds in the past three years repairing and buying phones.
Close to 1 in 5 people have cracked their screens by dropping them in the same period, and despite this, a massive 77 per cent of them have no insurance for their mobile phones, and only about 56 per cent of them cover their mobile phones with protective/complex cases.
This business can be entered into as a small to medium enterprise or invested in producing a large, modern franchise with a well-known brand name.
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Immanuel Burns Johnson is a young and dedicated social media personnel. He was born, raised and schooled in Lagos, Nigeria. His hobbies include traveling, sports, political criticism and mobile games like C.O.D.M. Apart from these; he is also interested in skydiving and aeronautics. He is skilled in web coding and has a trait of hard work. This has helped him become successful in his field at a young age.
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