For an aspiring entrepreneur, South Africa is filled with both challenges and amazing business opportunities. The country’s people, food, wonderful weather and blend of local cultures are sure to provide any business venture with a vibrant and eclectic backdrop. However, the country’s slow economic growth and high unemployment rates can pose a challenge for new business and aspiring entrepreneurs. In spite of this, there are still many amazing business and entrepreneurial opportunities for those aspiring to start their own small business in South Africa.
5 small business ideas for South African entrepreneurs
For those ready to jump into the business world, here are five small business ideas that are perfect for the South African entrepreneurs and business owners of 2024.
An artisanal crafts business
High-quality artisanal crafts are often regarded globally as highly sought-after items, and with online platforms, such as South Africa’s own Hello Pretty, it is now possible for anyone to sell their artisanal and homemade crafts.
It’s because of these platforms that businesses like Ntombentle Dolls came to be. Molemo Kgomo was struggling to find her daughter an African doll, so she instead created one herself and since there was a market for her creations, she started selling her dolls online.
When starting your craft business, be sure to think about the kinds of products your buyer may be interested in and whether you’re providing them with goods they can’t get elsewhere.
It’s always better to consider what your buyers would like or want to buy first, before you consider what you would enjoy making. The sweet spot is when you can find something where the two considerations overlap.
Take businesses like Carrol Boyes or Avoova for example, both create high-end products that buyers love and that lean into their specific creative outlets. From biltong to beer, to decorative bowls and bedding, there is always space for unique and high-quality crafts.
A tutoring and educational support business
Children of all ages need academic help, so if you’re patient, passionate about certain subjects, and enjoy working with school-aged children and teens, then a tutoring business may be the route to take. By starting a tutoring business, you can help to support South Africa’s education system by helping children and their parents with their studies.
Tutors are always in demand, but this need picks up in December and July during exam periods. So, while you may start off as a one-person tutoring business if the demand increases beyond your ability to meet the needs of your clients, then you may need to hire more tutors and expand to a full-scale business.
A property management business
Property management is great for those who enjoy the property market, keeping things in order and working with others. Property managers ensure that all properties under their care operate properly, that the appearance is maintained, and either preserve or increase the value of the properties.
The duties of a property manager also include inspecting facilities, hiring (and sometimes supervising) maintenance staff and assigning jobs, and contracting services, like rubbish removal and landscaping. They also show properties to prospective tenants and buyers, collect rent from tenants during their occupancy period, and may also have to pay taxes and maintenance fees. There is also a lot of administrative work that comes with being a property manager from keeping records to preparing budgets and reports for property owners.
While it may start small, this can be a scalable and, oftentimes, lucrative business as the number of properties under your care increases. Just make sure you have access to reliable transport and don’t mind a commute, as in-person visits to the properties under your care can be a regular occurrence.
A culinary or catering business
With a food and wine landscape as delicious as South Africa’s, it’s no surprise that both locals and tourists alike will praise the country’s culinary scene. Whether you’re a foodie with a passion for fine dining, someone who loves cooking for others, or someone who loves creating, there are many business opportunities in the culinary world.
Getting into the restaurant business can be a great option for those who are passionate about fine dining. While maintaining a successful restaurant, and getting the necessary funds can pose a challenge, South Africa is home to numerous traditional cuisines that are sure to provide a delicious dining experience that stands out from the competition.
If you’d rather start off small, love cooking for others, and whether you want to serve your food to the public, or are looking to cater events and corporate settings, a food truck or a catering service may be the way to go.
Traditional South African foods, like milk tarts or koeksisters, are often featured in large grocery chains, like Pick ‘n’ Pay, Woolworths, and Spar. So, if you’re able to offer great South African fare, you’ll have a market to cater to.
A hairdressing and beauty business
If you’re passionate about people and have a knack for beauty, then a hair salon, barber, or other beauty-based businesses may be right up your alley.
Hairdressers and beauty salons are a key part of South Africa’s consumer economy. Not only are these often visible in shopping centres, but these are also places for people to go, not just for grooming, but to relax, unwind and be pampered.
If you’re intending to perform the services you offer yourself, then you’ll need to get your licence and certification from a beauty school. However, you can also hire certified and experienced staff who will make sure your clients are looked after and get high-quality service.
It’s worth noting that costs associated with premises and equipment can be quite expensive, so be sure you’re committed to making your business a success before you make the investment.
If you’re an aspiring entrepreneur, there is no shortage of business and entrepreneurial opportunities that you can get started with. You just have to be ready to take the plunge, take on the challenges that come with running a small business, and work to make a thriving and successful small business.
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