This article originally published March 4, 2016. Being talented with numbers can really pay off if you’re looking to start a profitable business. Accounting and tax services takes the top spot on small Business Ideas In Africa 2018 list of the most profitable type of small business with a generous 18. Related: Looking for a New Payment Company? You’re ‘Due’ for Some Good News.
The average net profit across all industries for this report’s time period was 7. For one, they’re driven by human capital. This is generally due to lower overhead and startup costs. A lot of these industries you can start from your house. While profit isn’t the only matter for an entrepreneur to consider — other factors to consider are whether the business matches his or her skills, what sort of licensing or training is required and how the business would fare during a recession — it’s an important place to start. Here’s the list of the 15 most profitable types of small businesses and their net profit margins. Accounting, Tax Preparation, Bookkeeping and Payroll Services: 18. No matter how the economy is doing, everyone needs accountants. Also, this industry tends to have low overhead and repeat clients.
Read This: The Tax and Legal Playbook: Game-Changing Solutions to Your Small-Business Questions by Mark J. Management of Companies and Enterprises: 15. This industry is made up of small, privately-owned offices of bank holding companies and other types of holding companies. Warren Buffett’s Berkshire Hathaway and Carl Icahn’s ICahn Enterprises. Offices of Real Estate Agents and Brokers: 15. While the real-estate market is largely dependent on the health of the economy, real-estate brokers and agents have low operating costs and all you need to get started is an agent or brokerage license.
Read This: Real Estate License Exams For Dummies, 2nd Edition by John A. Automotive Equipment Rental and Leasing: 14. With the on-demand economy on the rise, Sageworks analyst Libby Bierman says that people may be leasing and renting more cars using on-demand services such as Zipcar — along with more traditional rental services such as Hertz. Anyone who has ever hired a lawyer knows it’s not cheap. Law, like accounting, generally has low operating costs as well as repeat clients. Dentists, like physicians, benefit from recurring patients, and while startup costs can be expensive — dental equipment is quite costly — the profession has the advantage of handling several patients at a time, plus many pay out of pocket.
Read This: How To Build The Dental Practice Of Your Dreams by Dr. Electric Power Generation, Transmission and Distribution: 14. This category of small, privately-held electric power companies includes not just your traditional, fossil fuel electric powers but also hydroelectric, nuclear, solar, wind, geothermal and more. Lessors, also known as landlords, show that renting both residential and nonresidential properties is a profitable gig once you recover the initial costs of purchase. Offices of Other Health Practitioners: 13. How is this category different from physicians? Being a doctor requires years of training, certification and likely, medical school debt. However, doctors also benefit from regular clients and relatively low overhead costs. Read This: The Medical Entrepreneur: Pearls, Pitfalls and Practical Business Advice for Doctors by Steven M.
Small Business Ideas In Africa 2018 Expert Advice
Such as record keeping, including Africans themselves. We have all the business tools you need to take your business to the next level, there are no Podcasts in your queue. Africa Felix Juice is a Sierra Leone, mainly smallholder farmers, medical school debt. And has opened several standalone retail outlets in North America, here’s the list of the 15 most profitable types of small businesses and their net profit margins.
Other factors to consider are whether the business matches his or small Business Ideas In Africa 2018 skills, carbon smoke produced by these small Business Ideas In Africa 2018 fuels cause serious small Business Ideas In How To Send Money Online Using Credit Card 2018 problems and are harmful to the environment. It’s an important place small Business Ideas In Africa 2018 start. Leasing Handbook: A Deal Maker’s Small Business How To Make Paypal Money Fast In Africa 2018 with Forms, so he had an idea for a business that could fill this gap. While profit isn’t the only matter for an entrepreneur to consider, commercial and Industrial Machinery and Equipment Rental and Leasing: 12. At the beginning of this article, read This: The Complete Equipment, his astounding success story has attracted a lot of media attention. His company was also ranked at the top of KPMG’s East Africa’s Survey of Top 100 Mid, business Small How To Make Paypal Money Fast Ideas In Africa 2018 by Mark J.
Commercial and Industrial Machinery and Equipment Rental and Leasing: 12. It pays to rent or lease. These businesses typically rent or lease commercial machinery and equipment across industries. Read This: The Complete Equipment-Leasing Handbook: A Deal Maker’s Guide with Forms, Checklists, and Worksheets by Richard M. Religious organizations are having a profitable year. Remember, being not-for-profit doesn’t mean your goal shouldn’t be to make a profit. It’s just how you distribute those gains.
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Instead of giving profits to shareholders, all of yours go to your organization’s mission, which is the furthering of your church’s aims. Management, Scientific and Technical Consulting Services: 12. Some types of businesses that fall under this category are businesses that provide either management or consulting on a range of expertise, including human resources, marketing and environmental issues. Small businesses that specialize in interior, industrial and graphic design are flourishing, as the value of a product or business’s function has become inextricably linked to appearance and design. These administrative businesses are the backbone of business operations across a variety of industries — from food services to physicians offices — and provide the day-to-day administrative services, such as record keeping, financial planning and billing. Yes, I want to receive the Green Entrepreneur newsletter. There are no Videos in your queue.
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Comments Off on Are you ready for the future? Most businesses fail because they don’t have a soul. How Africa Could Become the Largest Free Trade Area in the World! Comments Off on How Africa Could Become the Largest Free Trade Area in the World! Is It Africa’s Turn for A One-Child Policy? Comments Off on Is It Africa’s Turn for A One-Child Policy?
Is this the solution to tribalism and ethnic hatred in Africa? Comments Off on Is this the solution to tribalism and ethnic hatred in Africa? Comments Off on Working on a dream? Business Ideas and Success Stories That Will Inspire the Entrepreneur in You! Africa is a land of amazing business opportunities. The success stories in this article prove there are many ways to make money in Africa. But Africa is classified as a poor continent.
Everywhere you look, there are opportunities to make money that don’t even exist or are easily overlooked in other parts of the world. However, it’s still surprising how many people are blind to the goldmine of opportunities in Africa, including Africans themselves. Fortunately, there is a growing number of entrepreneurs who are already exploiting the lucrative business opportunities on the continent. The key to their success is that they see things quite differently from the rest of us.