Business ideas: How and what to get started with in Pakistan

Business ideas: How and what to get started with in Pakistan

Pakistan is a country where a person can earn as much as 3 to 5 thousand rupees per day with a cart of French fries in a posh area.

Its surging population and about 70 million middle-class consumers are the agents that can transform innovative business ideas in Pakistan into a reality.

What you have to do is to start off your business with a fantastic business idea. As per Entrepreneur, every business idea is amazing if it fulfils the given criteria:

  • it fulfils any need in the community – it solves a problem 
  • it’s scalable (you can extend it,  grow it, expand it, shrink it, limit it)
  • It is profitable
  • It’s unique and not easy to copy 
  • it appeals to your gut 

If you are someone who isn’t a big fan of a 9 to 5 job and wishes to be his own boss, then this write-up is for you.

A 9 to 5 job can be very exhausting and monotonous. Honestly speaking, most entry-level jobs do not pay that well. You have to work your soul off for peanuts in return and the quest of earning a decent living for yourself remains a dream.

However, to escape the hassles of a boring 9 to 5 job, one can always opt for a business venture. There are numerous business ideas out there, each catering to a different customer base.

All one has to do is to pick a business idea (make sure that it does not require a kidney to start).

The idea should be sustainable enough to earn you a good amount of money because that’s our primary goal. Right?

Read Also | Ex-CJP Nisar meets Imran Khan in Lahore

Here’s a table of business ideas, the growth opportunities, the capital required, the difficulty it possesses and the skills required for it.

1. Real estate HighModerateLowNeededNetworking; knowledge
2. Poultry farmingVery HighHighModerateNot NeededManagement; knowledge
3. Coffee shopModerateModerateLowNot neededManagement
4. Marketing services (digital)Very HighVery LowModerateNeededMarketing; Technical skills
5. Girls hostelLowModerateModerateNot neededManagement;
6. Fish farmingModerateHighHighNeededKnowledge 
7. Beauty salonModerateModerateModerateNeededKnowledge about makeup and skincare
8. Solar energyHighHighHighNeededTechnical skills;
9. Organic farmingHighModerateModerateNeededKnowledge about plants;
10. Book publishingModeratemoderateLowNot neededCreativity; writing skills;
11. Online tutoringHighLowModerateIntermediate to highTeaching;
12. Graphic designingHighVery lowlowModerateDesigning; technical skills
13. E-commerce sitehighHighModerateModerateMarketing skills; management skills; technical skills
15. BloggingHighLowLowNot neededWriting; creativity;
16. BoutiqueMinimumHighModerateNot neededCreativity; design;
17. CateringHighModerateModerateModerateCooking; event management
18. PhotographyModerateModerateModerateNot neededCreativity; technical skills
19. Food truckHighHighModerateNot neededCooking; management; marketing;
20. Freelance writingHighLowModerateNeededWriting; creativity
21. Mushroom farmingHighLowModerateModeratePlantation
22. Bee farmingLowLowLowNeededfarming knowledge
23. Invest in startupsHighModerateLowModerateBusiness knowledge
24. Invest in collectables and antique itemsLowLow to ModerateLowNeededKnowledge of antique

Ways to register your business: 

Obtain PIN for company registration

Authority: Securities and Exchange Commission of Pakistan 

Time to get completed: Online procedure – less than one-day 

Costs: PKR 100

Reserve the name, register your company, pay incorporation fees, register with Excise & Taxation Department of the District (Professional Tax), EOBI, the SESSI, and Labor Department of Karachi on the SECP e-portal, obtain a national tax number (NTN).

Authority: Securities and Exchange Commission of Pakistan 

Time: 1-week

Costs: Name reservation fee (PKR 200) + Registration fee (for online submission: PKR 1,000 for capital below PKR 100,000; additional PKR 500 for every PKR 100,000 of capital or part thereof, above PKR 100,000 and up to PKR 10,000,000) + Filing fee (PKR 400) + Fee for registration with the Labor Department (PKR 1,000).

Open a bank account for tax registration

Authority: Bank

Time to Complete: 1 Day

Costs: No charge

Apply for a Sales Tax Registration Number (STRN) at the tax facilitation centre of the Regional Tax Office (RTO) of the Federal Board of Revenue (FBR) in Karachi

Authority: Tax facilitation centre of the Regional Tax Office (RTO) of the Federal Board of Revenue (FBR) 

Time to Complete: 1-week

Costs: No charge

Read Previous

Ex-CJP Nisar meets Imran Khan in Lahore

Read Next

Pakistan seeks additional $3.2b from Saudi Arabia amid economic crisis

Join Our Newsletter
Get latest articles, Jobs, freebies, entertainment news delivered directly to your inbox.
170000 subscribers are here.