UncategorizedTop 6 Business Ideas in Pakistan in 2021

March 10, 2021

It is no secret that Pakistan’s business market is worth billions of rupees. The industrial sector alone raises millions which contribute to the overall economy. However, in the Pakistani economy, not every business idea thrives well. Some require a great deal of investment, some don’t. Leading corporate law firms in Pakistan, like Ramdays, offer legal advisory services to such ventures.

Let’s suppose that you want to open a business in Pakistan and aren’t sure of the financial risks. In that case, investing in a top corporate law firm can be helpful. You can find the best corporate law firms in Lahore and Islamabad to assist you.

For those of you that need a basic idea of what businesses are profitable, you should keep reading!

1. Establishing a Social Enterprise!

Don’t know what a social enterprise is? A social enterprise works for the community as well as themselves. Let’s check out a real example from the Pakistani community. Rizq is a six-year-old social enterprise in Pakistan. While they fight against food wastage, they also raise capital at the same time. They form contracts with various restaurants that supply them with extra food. When the food arrives at Rizq foodbank, it is tested and then packaged.

After that, it is sold for the marginalized one for a very small price i.e. 10 to 30 Rs.

Through a social enterprise, catching the eye of the audience is pretty easy. How? Pakistan is a country based on religions that teach compassion. So, getting such social enterprises to draw in more attention is pretty convenient

2. Opening an Export Services Company!

Pakistan has many manufactured products and staple food items that are highly demanded. Especially in Western countries. For this reason, the export industry in Pakistan has a huge worth. According to sources, as of 2018, it contributed 8.79% to the overall GDP. This depicts that this business carries a huge worth.

Offering foreign clients swift export services can be pretty profitable. That’s because your company will get paid in dollars, euros, or other currencies. If you have one of the best corporate law firms in Pakistan, then they will guide you. Then, even if you aren’t aware of how an export services company works, it’s okay. That’s because your corporate lawyer would guide you.

Ramdays, one of the top corporate law firms in Lahore, receives many such clients. These clients want to understand how to get started with their business venture.

3. You Won’t Believe it But a Software Development Firm!

Softwares sell as expensive as gold. As any freelance software engineer or developer and he’d tell you!

There is a huge demand for software development. In Pakistan, businesses are rapidly moving from offline to online platforms. This is because they have realized the power of an online presence for a business.

You can work with local clients to generate profit. The way software development works is that you provide software solutions. Let’s suppose that your client is a fashion clothing brand in Pakistan. And they want an e-commerce app that helps their customers connect with them.

As a software house, you can help your client. You can help them develop a customized app that their customers use. Know that there are thousands of clients across Pakistan that want software development services.

4. Invest in Solar Panels to Form a Solar Company Eventually!

In Pakistan, forming a solar company can be pretty profitable. How? Research shows that the solar energy industry is receiving much more attention than ever. Especially from investors from within and outside the country.

What you can do is invest in small solar panels. And provide solar energy services to the local community around you. The key to penetrating the market is keeping your prices low. This helps attract customers around you. Eventually, your company will raise enough capital to start off a bigger version of your business.

This is how a social company can pay off in the end!

5. A Pharmaceutical Chain!

You might not agree but the pharmaceutical industry is pretty huge! Statistics show that the Pakistani pharmaceutical industry is worth 300 billion rupees. And the expansion rate for this industry is very high!

This is why every year the pharmaceutical industry contributes an increased GDP.

In addition to this, there are many diseases that around 180 million people in Pakistan suffer from at least one type of disease. This puts a huge burden on the pharmaceutical industry.

During the COVID-19 pandemic, the pharmacies stood as the one lucrative business on the market. Why? Because people, organizations, and hospitals purchase medicines in bulk.

While there was an increased burden on the industry, yet the money kept on generating. This is why this industry did not completely go out of running during the pandemic. Yes, there was a loss that every industry suffered from and so did the pharmaceutical industry. But it still was able to raise a huge GDP.

6. Customized Clothing and Footwear Company!

In Pakistan, customized footwear and clothes are in high demand. Customers expect companies to create the designs they want. There are multiple businesses that offer such services. In case you lack research on it, a good corporate law firm can help you. For instance, Ramdays offers such services to its clients.

We, at Ramdays, provide one of the best corporate law services in Pakistan. You can ask our advisors today to get your grip firm on research for your industry. Our legal advisors are great at providing clients with the facts they want.

So, if you want to open a customized clothing company, consult our advisors. Our services include a financial analysis of our clients’ funds. Then, we try to provide our clients with the best possible solution for their needs.

If you are still unsure, call us to discuss and clear any queries. Ramdays is one of the top corporate law firms in Lahore. It does not matter which city you are from. Because our advisors are always ready to serve you with the best!