Do you want to start a small business in Sri Lanka? Find here a list of 10 chosen investment opportunities in Sri Lanka for your ready reference.
Basically, Sri Lanka is an island country. The country is located in the area of the Indian ocean. The capital of the country is Colombo. Most of the people use English, Tamil, and Sinhala for communication with each other.
Generally, the economy of the country has mostly had strong growth rates in recent years. Currently, the country is focusing on long-term strategic and structural development challenges as it strives to transition to an upper middle-income country.
According to the Global Competitiveness Report, Sri Lanka’s economy is transitioning from the factor-driven stage to the efficiency-driven stage. Hence, it makes the country ranks 52nd in global competitiveness.
Therefore, this is the best and favorable time for starting a business in Sri Lanka. Whether you are a resident of the country or an outsider, you can start a business as small and large scale basis.
Top 10 Small Business Ideas in Sri Lanka
Basically, the country’s economy depends hugely on the agriculture. Some of the specific items like tea, rubber, cinnamon are the most important products here. Additionally, these items have good export potential also. Animal husbandry or livestock farming is also getting immense popularity nowadays. To know more, Click Here.
#2. Backyard Plant Nursery
If you love gardening, you can start a backyard plant nursery in Sri Lanka. This is a low-cost and profitable business. However, you must have some space for this business. Selecting the plants is the most crucial aspect of this business. You must keep the plants according to the local market demand. Also, you can start and operate the business as part-time basis initially. Read More…
#3. Cell Phone Repair
Cell phone demand and population are increasing very fast. And after the warranty period, people look for an affordable local repairing service for fixing the phones. Even, if you don’t have the repairing skill, you can visit classes to gather the knowledge. Generally, this type of business offers services like repairing cell phone, smartphone, iPhone, tablet etc. In addition to that, you can offer several specific repairing services too. Read More…
#4. Export Import
Export import is one of the most prominent business sectors in Sri Lanka. The country is the 81st largest export economy in the world. The top export items of Sri Lanka are Tea, Women’s Undergarments, rubber, cinnamon etc. Its top imports are Planes, Helicopters, and/or Spacecrafts, Refined Petroleum, Cars, Crude Petroleum and Light Rubberized Knitted Fabric. Some of the top export destinations of Sri Lanka are the India, United States, the United Kingdom, Germany, and Italy. The top import origins are India, China, Japan, France and the United Arab Emirates
#5. Information Technology
Sri Lanka is ranked among the top 50 outsourcing destinations by AT Kearney. Some of the most lucrative IT sectors are business process outsourcing, knowledge process outsourcing, software development, IT Services and IT education. Hence, it is needless to say, the country is one of the best destination for starting a business in the information technology sector. Read More…
#6. Jeans Making
The Govt. encourages the small scale sector of the country. Additionally, there are several schemes you can avail of the assistance from the Government. If you want to start a small business in the clothing and apparel segment, you can consider starting a jeans manufacturing business. With proper planning and substantial capital investment, jeans manufacturing project can be initiated as small scale basis. Read More…
#7. Real Estate & Construction
Property industry broadly cover the areas of rents, domestic housing, capital market, office space, retail and industrial space. As confidence returns to real estate, the industry faces a number of fundamental shifts that will shape its future. Moreover, the sector offers several service based business opportunities to the aspiring entrepreneurs. Read More…
Retail is an another growing sector in Sri Lanka. However, you must have a retail space in the prominent location. Otherwise, you can also consider getting a retail space on rent. As the tourism is one of the most important revenues earning sectors in the country, you can find several retail business opportunities there. Read More…
Tourism is one of the main industries in Sri Lanka. Major tourist attractions are focused around the islands famous beaches located in the southern and the eastern parts of the country. Additionally, the ancient heritage sites are also popular in the country.
Hospitality and tourism are vast areas of providing different types of services. It includes broadly restaurants, restaurant chains, food services, hotels, transportation, photography, business and leisure travel, holiday destinations and activities, camping, and the cruise industry. Read More…
#10. Transportation Business
Transport business opportunities are emerging globally nowadays. Transportation is one of the world’s largest industries. Different types of specific demand with the changing lifestyle habit have introduced several innovative and profitable startup opportunities in the transport industry. Read More…
Sri Lanka is a very small country. However, the business sector is famous for agriculture, plantation, export, food processing, and telecommunications. We hope this list of top 10 small business ideas in Sri Lanka will help you in taking an informed decision.