5 Small Business Ideas That Are Worth Your Time and Money in Haiti During This Pandemic
If there is one thing we all learned as nations from this pandemic, is that situations like this trigger our basic needs and make us more conservative than ever. It’s a matter of survival
It’s not a different picture here in Haiti except that everything is amplified: people have less and less bargaining power, informal activities are more uncontrollable, and there’s no certainty that things can get back to normal by the end of this year.
Hence , demand for basic needs─food, drink, health─ and much more will keep rising. This implies business opportunities you may not have thought of before. So, to get your time and your money invested somewhere safe and profitable during this pandemic, here are 5 small business ideas to go for.
1. Bakery Products
Whenever there’s panic of any kind, the first thing most people look for is bread. And now is the time where it is constantly demanded. While launching a business might be more complicated than before due to legal process and funding, being a retailer is much easier.
So if you happen to be a bread-lover, who knows people around you who would enjoy a piece of bread at every meal and are ready to pay you for supplying such an item to them as they need, find your nearest supplier (bakery) and start making money right away.
However, bakery products are perishable, so watch closely how frequently people would request your bakery goods and evaluate the demand in order to determine inventory fluctuations.
2. Potable and Non-Potable Water
There is just a handful of institutions that take care of water distribution for homes in urban areas in Haiti, and it is not wholesome water. Wholesome water is water that meets legal standards and is usable for cooking, food preparation, laundry, and even drinking.
Furthermore, water is an ever-wanted good, a safe investment. Evaluate its demand in your area, look for existing competitors but do not take too long. If it’s not a business opportunity in your region, many other places are dry in the country, so find one!
For pure drinking water, most companies use the reverse osmosis technique for it to be treated and sold. Other techniques such as boiling, filtration, distillation are also effective. Find the one that best works for you and your finance.
One thing to keep in mind, though, a business opportunity doesn’t mean an open door to business unfairness. Water is a basic need, so play it fair while still making profits.
3. Drugstore
Health is priceless, and even though many people turn to traditional medicine for treatments, medical prescriptions are strictly applied. Going for a drugstore seems more like a long-term investment due to legal procedures and property requirements, as listed by Haiti’s Administrative Information Center (CRA in French).
If you do see yourself owning one, then go for it. Find a licensed pharmacist if you are not one, conduct delicate market research and see where real opportunities are for you. They may be:
- Location: next to health care centers, in a dense population with few health services;
- Price: selling at reasonable prices will get you more customers if it’s what you need;
- Additional services: first-aid products/services, over-the counter medications, and feminine products, consumables and so on.
If you would prefer not to go through the hoops of starting a business, find someone who has the project -or business plan ready- and start investing. It’s an effective way to ensure that more people can get access to basic health care goods and services.
4. Green Energy
Access to electricity in Haiti has always been a significant problem. Nonetheless, the growth of the green energy industry has furnished an alternative to households, whether they have access to State-sponsored electricity or not.
Besides, the recent decline in State energy distribution has increased consumer loyalty to green energy. Unlike in other countries where solar-powered homes are controlled by the government and homeowners still pay electric bills (the U.S. for example), households here in Haiti can be solar-powered without any restrictions.
If you are anything like an eco-friendly entrepreneur, now is the perfect time to come up with your green energy solution and start building up your empire. Your best options among green energies in Haiti remain sun and wind.
5. Cloth Masks
As you’d guess by now, self-protection has become a priority for everyone, and wearing a mask is one of the most reliable options to prevent the coronavirus spread.
Because of diverse opinions that have particularly emerged among public health and medical experts in Haiti regarding mask-wearing habits, cloth masks have become the most popular items that could hinder the virus spread. They are being sold at affordable prices, and they could be reused.
If you do not know anything about sewing, it’s fine! There are many tailors out there who would appreciate partnering with you. Bring in your managerial skills or invest in their businesses as more masks need to be produced daily to help fight against the spread of this pandemic.
There are undoubtedly other small business industries that might be tempting for you. Whatever you feel would best work for you, analyze your market thoroughly, and determine how much time and money you have to put in.
There are risks in everything you do, every endeavor you are working on, every project you undertake. And That is simply the essence of business. It’s mainly about finding what is needed and determine what answers you can give.
Keep your brain working and start building your wealth!
