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What small business to start in Malawi?
The most common commonly asked question is “What small business to start in Malawi?”
Doing business in Malawi is a choice for many who choose to make money aside from their regular job. Some people who have no jobs choose to start their own business.
According to (MSME survey 2012) Malawi has 760 000 small business owners which generate annual revenue of about USD$2billion.
Firstly, let’s look at the general idea of starting a business. A successful business answers a specific need in the community. Therefore, to find the best business idea to start in Malawi one has to find a need.
Identifying a business need does not always means you have to invert a new product. At times it is simply a process of modifying the already existing business products or services to meet a specific gap.
Business is about the provision of products or services which customers are willing to pay. Therefore, main sources of business opportunities in Malawi are the problems that exist among the people.
What small business to start in Malawi: Sourcing capital
After identifying the need the other factor is to source capital for your business. As a business owner, you can use your own capital or find capital from external sources.
Using your own capital to start a small business in Malawi gives the business owner more freedom. The other advantage of using own capital is the assurance that the capital is permanent. Unlike using external capital, that can be withdrawn anytime.
Having more control over your small business is good for small business owners. At present only 13% of small business owners in Malawi use financial services offered by commercial banks (MSME survey, 2012). It is very difficult to find funding for new businesses from banks in Malawi.
When starting a small business in Malawi you also have to choose the right place for the business. The importance of choosing the right place for your small business in Malawi cannot be overemphasized.
See also Why Malawi is so Poor?
What small business to start in Malawi?
20 Small business ideas to start in Malawi
Malawi is ranked on position 160 out of 190 countries on ease of starting a business ( World Bank, 2016). As you can see, this means starting a business in Malawi is relatively difficult. It requires hard work and more effort to succeed. Now let’s have the list of small businesses to start in Malawi.
Below is a list of good business ideas to start in Malawi with less capital.
- Cleaning services
Demand for cleaning services is on the rise, especially in cities. Starting a company which will offer cleaning services is a lucrative business.
Creativity and uniqueness in service delivery can help you to stand out of the competition.
Most residential places have no proper waste disposal area. These are potential customers who would be willing to pay monthly to someone doing the job for them.
Companies and shop owners also tend to outsource cleaning services.
Blogging is one way to make money. With a blog, you can make money through multiple means. You can monetize your blog using ad sense, direct ads as well as affiliate links. Starting a blog in Malawi requires less capital.
Freelancing is another is a good business idea for people who choose to earn a leaving on their talents. The idea with freelancing is o specialize in one thing you are the best art. For instance, if you are a skilled writer you can make money selling your writings to newspapers, magazines, and websites.
4. Part-time teaching
If you take teaching as a business you are likely to make money. Most parents are willing to pay for someone who would like to help their students to pass exams. Adults who are doing upgrading courses pay well for part-time teachers.
So if you have specialized knowledge for instance in accounts, marketing, physics, mathematics and computer you can earn good money.
5. Soap making
Making soap is simple like baking bread. Demand for soap is always going to be high. Simply put people cannot do without soap. People need soap for washing, bathing and cleaning other objects.
They key with this business idea is having a proper marketing strategy. Materials for soap making are also cheap. Organic soaps can be made using locally available waste plant materials.
The post How to Start Soap Making Business in Malawi has all required details on homemade soap making in making
6. Selling Spices
Local spices have a big market. The international market demand for spices is huge. Making spices which meet international standards is likely to make huge money.
7. Web and graphic designing
Many people want to make their online presence outstanding. Such people, companies, and NGOs need people who can code websites for them. They want someone to design logo’s, calendars, flyers, posters, banners, T-shirt branding and more. This is an ever-increasing opportunity for web developers and designers in Malawi.
8. Computer and mobile phones repairing
Many people who use computers and mobile phones do not know how to repair their devices. Anyone who is skilled in hardware or software maintenance can make money by repairing gadget for customers. Flashing phones and software installation are few of the available opportunities for skilled people. Good thing about this is that demand will always be there as new models of computers and phones hit the market.
9. Salon and barbershop
Everywhere, anywhere people will look for barber shops and saloons. To stand out from the crowd to make it a habit to meet customer needs.
10. Import and export
Start Importing low-cost things from other countries and selling them at a high price in Malawi.
Importing items from countries like China online on sites like eBay and Aliexpress.com is simple.
Items you can import include mobile phones, laptops, used books, shoes, and cosmetic products.
You can also make money exporting raw materials to foreign countries.
There is high demand for soybeans, spices, fish, art, jewelry, in SADC countries as well as in India, UK, and USA.
11. Internet café
Most Malawians access the internet using mobile devices. At times people want to get access to affordable internet through computers. Providing internet that is fast at an affordable price attracts more customers especially in trading centers, towns, and cities.
12. Vegetables and fruits farming
Demand for fresh fruits and vegetables are high in stores like Chipiku plus, Sana, PTC, and Shoprite. Learning institutions like colleges and universities also buy vegetables and fruits in bulk. Becoming a supplier of vegetables and fruits is another good business idea to start in Malawi.
13. Real estate agents
Help busy people easily find houses and property to rent or buy. In this business model, you get paid by the property sellers and from the buyer.
14. Floor polish
Manufacture floor polish and sell
15. Interior and decorations
- Office decorations
- Kitchen fittings
16. Laundry business
17. Security Company
18. Wedding accessories
- Supply wedding dresses for hire or for sale
- wedding cakes
- Being Master of ceremony
- Wedding DJ
- wedding decorations
19. Gym and Fitness Centers
Gym centers are ideal for people who value body maintenance and fitness. As such they are willing to pay for gym equipment and services. You may also do message for a fee.
20. Sausage Making (Food industry is full of opportunities)
Making and selling sausage is a good business idea to start with a small capital.
This one of the many business opportunities for Malawians. Everyday people want to eat and drink.
People are always willing to pay for quality food. Making or source foodstuffs like confectioneries, snacks, lunch boxes among others is an evergreen business opportunity.
You may also read 15 Richest people in Malawi
Lastly, when you decide what business to do, you may consider registering your business. Registering a company in Malawi/business gives you an added advantage.
Most reputable organization prefers doing business with registered companies or businesses.
People have more trust in doing business in Malawi with a company they know is registered. Furthermore, government tenders are offered to registered companies in Malawi.
It is important for entrepreneurs to get a business registration certificate.
Buy the eBook “200 GOOD BUSINESS IDEAS IN MALAWI” that contains a detailed list of 200 Business Ideas to Start with Small Capital in Malawi.
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