There are a lot of Profitable Business Ideas in Paraguay. Most of them are what you may not have regarded as being profitable. As a resident of the country, you need to start looking for menial business that you will be doing in order to support your daily expenses. But before you continue, it is important to know which area you will invest in to make a profit.
The landlocked country of Paraguay may not be the first place you consider when expanding your business internationally. However, this South American powerhouse is becoming a popular choice for savvy entrepreneurs looking to increase their brand presence in LATAM markets.
Below, we take a closer look at just some of the reasons why you should consider making an investment in the territory. In this article, we are going to explore some of the profitable business ideas in Paraguay.
In case you are a resident of the country who is searching for what to do, make sure you this article carefully till the end. See Profitable Business Ideas in Papua New Guinea.
Profitable Business Ideas in Paraguay
The following are some of the profitable business ideas in Paraguay
1. Tourism
Tourism is a growing business in Paraguay. The tourism business is growing continuously in Paraguay and this is the time to start it. It is a very lucrative business from which you will make your profits.
Several features of Paraguay amaze tourists and also captivate locals, it has both historical, cultural, and geographical features that draw tourists to the country. Paraguay is a country that makes tourists feel welcome and also feels at home.
2. Agriculture
One-fifth of the economy of Paraguay has to do with agriculture. Starting an agricultural business in Paraguay, you can focus on soya beans, wheat, cotton, oil, leather products, and many others.
It is as simple as you focusing on only one, two, or even all the products. It all depends on your capability in terms of manpower, finance, machines, materials, land, etc.
A large part of the population engages in subsistence farming. In agriculture, it is a certainty that you will have a good market.
Rice processing is also another area you can focus your agricultural business on because rice is a food that is eaten almost everywhere in the world, it is very rare to see a country where rice is not eaten in this world.
You can do the business for exportation while making your own money and will also end up serving the country by meeting the needs of the people.
3. Security Business
In politics, business, human rights, and so on, Paraguay is not safe. Locals and foreigners now prefer taking taxis to public transport due to the insecurity issue in the country and this is exactly why you need to start a security business in Paraguay. Guard and protect people who in turn will pay for the services rendered.
4. Real Estate Business
This business is most effective in the capital of Asuncion because it is the only place where properties are mostly secured which makes people buy more properties in Asuncion than in other cities.
You can also employ a real estate agent if the workload is too much and also if you are a foreigner because you need a truthful person who will put you through all the rules and laws of having a real estate business in the country.
Many people are after purchasing properties in Paraguay, especially foreigners because of its lower price when compared to other countries in South America.
You must register your business legally because it is now a common thing for people who want to buy properties to first check if your business has a license in the real estate commission to know if you are a fraudster or not. Your business will only be saved and also make sales only if you are registered legally and have your license.
5. Import and Export
This is a good business idea especially the export aspect because Paraguay has one of the largest export economies in the world.
Paraguay exports soya beans, cars, soybean oil, bovine meat, and refined petroleum mostly to Brazil, Netherlands, Russia, Italy, etc.
While the country’s main imports are cars, computers, and broadcasting equipment from Brazil, China, Argentina, and the United States. Most of their imports are technological devices.
6. Arts and Crafts
The indigenous art of the Paraguayans in the Paraguayan Indian art. Their arts and crafts include baskets, ceramics, weaving, and threading. The most famous work done in Paraguay is basket weaving and feather work.
These are works appreciated by the Paraguayans, the business sells well to the interest and appreciation of the work by the locals.
7. Poultry Farming
Poultry consumption is increasing at a fast & significant rate in Paraguay and it is also a traditional source of living there.
8. Restaurant
This is another thriving business in Paraguay especially the vegetarian restaurants. You can either have a vegetarian section in your restaurant or only focus on the vegetarians. Vegetarian restaurants in Paraguay have about a 16% growth rate.
9. Computer Training Business
65% of the population of Paraguay are youths which automatically makes the computer training business a profitable one.
Majorly, computer training is for youths and they are always the most interested in computers and other technological devices.
To start this business idea in Paraguay, all you need are the computers that will be used, a spacious location, and skilled manpower that is, those who know about computers and also have the skill to train others.
Low-cost business ideas in Paraguay
Here are some low-cost business ideas in Paraguay that you can consider:
- Food Cart or Food Stand
- Mobile Phone Accessories
- Handicrafts and Souvenirs
- Personalized Printing Services
- Cleaning Services
- Freelance Services
- Pet Care Services
- Tutoring or Language Classes
I hope you have found this article helpful. In case of any other questions about Profitable Ideas in Paraguay, kindly make use of the comment section.
