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A lot of changes have been happening both locally and globally, and these present entrepreneurial opportunities to us. We all don’t know what the year 2021 has in store for us, but with a number of positive news coming in on the corona-virus vaccine we seem to be now marching towards the end of the dark tunnel. We just hope the year 2021 will be a bit friendly or like always as entrepreneurs find ways to adapt and here are some business ideas to consider in the up-coming year.
Fintech
The pandemic and the economic hardships have both forced us to consider entrepreneurship for both survival and so as to attain financial freedom. However, capital is still a hurdle to a number of people with solid ideas. How about a virtual platform that could serve as a solution to this problem, it might be a crowd-funding platform or anything similar to that line of thinking?
In fact, there are a lot of voids in the fin-tech sector that entrepreneurs can monetise from. I personally hate spending time in a que to make enquiries in banks, wholly digital banks are becoming a new normal around the Globe and now in the continent, for example Kuda Bank based in Nigeria. Digital banks can feasibly work with 0 percent charges on transactions, monetising from other services such as offering loans, being a facilitator on peer to peer lending, offering a crypto-currency exchange platform only to mention a few. Also refer to the November Issue of Entrepreneurial magazine, we had a detailed article on voids in the Banking and Finance Sector.
Entrepreneurial support
As mentioned above, a number of people are now venturing into entrepreneurship. A start-up requires a lot to start, for example branding, formalization, advertising and at some cases legal, finance or operational advice. Whilst working with Start-Ups might be a bit frustrating due to the fact that they work under a limited budget, they is need to come up with a model that can accommodate them or even open the window for SMEs as well. Well the world is going digital, and there is need to offer some of these services virtually. This will reduce your overhead expenses as a service provider, unlock multiple streams of income and also give power to the client in terms of time and finances.
E-Commerce Supporting Services
A number of entrepreneurs are going for e-commerce as a business and a lot are still yet to jump in. A number of companies now also offer delivery services to their clients and in some scenario they might be need to partner with a delivering company. To add on, on e-commerce platforms payments have to be facilitated virtually and on rtgs payments the solution is there. How about on domestic usd payments? Not everyone has a nostro account, it requires a lot of paperwork and that’s a barrier to the general population. A solution is needed.
Diaspora community
The diaspora community has become more-closer to use because of technology. A number of companies now also focuses on the diaspora community in their business models, but who is there to send the message to them? You might think of social media, but I would say it’s difficult to run an online marketing campaign that only targets the diaspora community from country x, those who have done Facebook ads knows what I’m talking about. There is need for a platform that attracts the diaspora community and once that platform is strong, expect companies to start approaching you for advertising.
Value addition
Zimbabwe has become a raw-material selling nation. Most of the locally produced goods are sold both on the local and international market unprocessed or semi-processed. This includes agricultural produce such as tomatoes and some vegetables, meat produce, milk, wheat and soya beans. The same goes also to the mining industry, with a number of minerals such as granite, chrome, diamonds, PGMs, lithium and gold unprocessed or semi-processed. The above mentioned minerals can produce a lot of products that we require once or more in our life-time such as stainless steel products, jewellery, batteries and medicaments. One can earn quite a fortune from adding value to these products.
Mining
I confessed my deep passion of mining to a colleague and he responded, “you will be unfortunate not to love mining.” This goes to most of us as well, Zimbabwe is transforming to mining backed economy and they is need to strategically position yourself in the sector. Find opportunities in the mining sector in the article business ideas to consider in the mining industry besides digging for the rock.
The Entrepreneurial Magazine team wishes you a Merry Christmas and a Prosperous New-Year filled with execution and success.
All the best.
