Small Business Opportunities in the Indonesian Market
Indonesia, being one of the largest economies in southern Asia and 16th in the world, has a wide range of business opportunities to offer. This island country boasts a 5.8% GDP growth in the last ten years and is projected to become the seventh-largest economy in the world by 2030.
Indonesia is one of the major exporters of finished goods and raw materials. The country is also the largest producer and exporter of crude Palm Oil. It has emerged as a leading investment destination for many foreign exporters. With strong import and export network, Indonesia offers perfect business opportunities for investors to establish or invest in businesses.
Following are listed the top 6 most profitable of these:
Meat Processing and Packaging
A tropical country like Indonesia offers suitable conditions to rear livestock and growing business in meat processing and packaging. To start this small business venture, you’ll require around 10 billion IDR (1 million USD), human resources, and meat processing equipment.
Also, it is necessary for you to present your business idea and the required amount to the Indonesian government. You can get assistance from an Indonesian agency for setting up and implementing your business plan. It is also essential to get Halal certificate, and HCCP as Indonesia is an Islamic country.
Indonesia has a massive population of 220 million, and insurance penetration is as low as 30%. As per the statistics, Indonesia is the perfect place for you to start an insurance company and offer various types of insurance.
Indonesia is one of the leading exporters of furniture in the world. As per the statistics, a huge percentage of furniture in American and European countries is exported from Indonesia. If you have capital, contact a local agency to set you up with some furniture suppliers, and you can trade in the furniture products.
The laws and regulations in Indonesia are highly complicated when it comes to business and taxes. You can set up a professional consultancy firm and hire consultants who have in-depth knowledge of the laws of the land and provide counselling services.
As already mentioned, Indonesia is a significant destination for import and export. Thus, foreign countries require a buying agent in Indonesia. You can be the mediator and help the foreign countries to purchase and exchange commodities between buyer and supplier.
Indonesia is growing as a tourist destination and is famous for its beautiful beaches. Every year, it attracts a huge number of adventure lovers from around the globe. To start this business, you will require a secure network and a steady internet connection.
As a foreigner, if you have decided to set up a small business in Indonesia, there’s a good chance that you’re not familiar with how the system works here. Therefore, you need to reach out to a professional Indonesia business setup services provider like 3E Accounting. We will listen to your plan to explore the small business opportunities Indonesia offers. We will also advise you if your project needs any changes. Our firm has the appropriate resources and knowledgeable team who can assist you in establishing your business. We are always ready to help in providing you with the contacts and network for the smoother running of your business.
Contact us to know more.