We are coming to the close of the year 2019. It has been quite an eventful year in all facets of society, particularly in business. Locally this year has come with it so many new entries into the field of entrepreneurship. As we navigate the final few weeks of this year it is time to reflect on all that we have learnt; through both our successes and failures. It is also time we project ourselves into the coming year. Always remember this; a new year does not come with anything special per se – if you do not plan and prepare for it you will still fail. It is you who makes out a new year to be what you want it to be. So, in helping you prepare for 2020 I will herein discuss some business ideas that have a high likelihood of booming next year.
Solar Products And Services
The power situation in Zimbabwe still continues to be an unrelenting scourge. Going forward into 2020 that problem will persist. The immediately actionable panacea to that is and shall be solar energy. There are many ways in which one can start a business in this space. Chances are very high that if you do you will realize great returns. You can choose to focus on sourcing and selling solar panels and associated accessories. You can opt for the inclusion of solar installation, repair and maintenance services. You alternatively can just focus on sourcing and selling solar gadgets e.g. solar lamps, solar chargers, solar irons, and so on. This is one domain to watch out for this coming year as it will increasingly become more active.
Owing to the incessant power cuts people are no longer keen on buying foods that are easily perishable. People are becoming more and more inclined to buy foods that can last longer without the need for refrigeration. It is no wonder why foods like chunks are becoming more popular again. Foods like dried vegetables are also becoming increasingly popular. Anyone who is going to be enterprising enough to come up with a wide range of dried foods will make money in 2020. Most foods can be effectively dried so there are great business opportunities for dried foods.
The need to effectively manage money is going to be more necessary as we step into 2020. This is with respect to personal finances, business finances and a whole lot of other areas. It is a very broad field so one will have to do their homework to see which one they can settle for. For instance, more and more people are going into or are contemplating going into business. However, most struggle with how to mobilize funds for their business ideas. Same applies for anyone wishing to realize noble causes e.g. charitable activities. This means next year might present a great opportunity for innovators in crowdfunding services. For those with substantial amounts of money things like angel investing or venture capital shall also be a great fit. Even areas like investment portfolio management services will also be a potentially lucrative business. All this shall be so because the economic state of the nation is still free falling and expert assistance will be needed in financial management.
This has been a great field of activity this year and the trend with grow even more next year. Particularly areas like horticulture and livestock production. There will be more opportunities for those who will go a step further to process their produce. Mainly people have been so focused on just selling their products as is. However, there will be more opportunities created by those who will venture also in processing. Another area of development will be stepping into export markets. Farming is one area which is guaranteed to be profitable next year just as it was this year; even more.
Health Care Services
The health system in Zimbabwe is in shambles at the moment. Most health facilities have virtually no medication and basic medical equipment. To add to that there has been this industrial action by doctors all across the country. So many people have died due to lack of adequate health care at health care facilities. This coming year those who can invest and start building businesses in health care will profit.
I am not just talking about modern health care approaches but also alternative health care approaches. Things like herbal medicines or unconventional health care treatments have been gaining popularity and will continue to in 2020. Just the simple sourcing and selling of medical drugs is a business that can boom in 2020 because people are struggling to find medical drugs.
Borehole Drilling Services
Water continues to be a nationwide struggle with some areas having no water at all. Then there is also the dynamic of erratic rainfall in the farming space. Both these circumstances are going to necessitate people to get boreholes drilled either for domestic use or for farming. So offering borehole drilling services will definitely be a booming business this coming year.
Essential Products And Services
This one is open-ended and is open to your own interpretation of the prevailing situation in the country. For instance, you can study the current environment to see which products are in high demand. You then either make them or you source them to sell. You can source long-lasting candles and start selling them – that can be profitable owing to the power challenges. Another example can be hiring services; they are becoming central to most fields of endeavour. So this avenue will demand your keen eye to observe and analyse the operating environment at any given time.
These are 7 business ideas or areas to consider in this coming year. They are all relevant due to the current of the Zimbabwean economy so they have a high probability of booming in 2020.