Business Ideas in Bangladesh 2023
Maybe you are finding the best business idea in Bangladesh in 2023. I am sure you have visited lots of websites but you didn’t get a suitable business idea to start your business. I guess you are a job holder, nowadays business is more profitable than doing an entry-level job. To do a job is very competitive rather it is very easy to run a business. Because of the Huge population in Bangladesh, business scope is very high. If you want to start a new business then you have to find out a profitable business idea. You have to follow some rules and regulations to make your business successful-
- Market research or competitor analysis
- Make a proper business plan
- Gain knowledge as much as possible related to your business
- Ensure your financial source
- proper marketing advertisement
- Hire the right people not the best people for the organization
- Continuous change and improvement
Here I would like to discover the “Top 10 Business Ideas in Bangladesh” that I believe help you to make a profit and are very easy to start.
1. Fashion Goods Business:
Fashion is a very popular and profitable industry in Bangladesh. We have a great opportunity to make the most of our natural resources, talented designers, and cheap labor costs to become a major player in the international fashion market. Among all other businesses, this is the most profitable business. Fashion items have the export potential for many countries, especially those in Europe and the USA. But the fashion industry is highly competitive and requires a lot of hard work and determination to succeed. You need proper research, experience, and resources to succeed in this highly competitive fashion industry. Among them t-shirt business is easy and the initial investment is very low.
In 2023, the apparel market will generate US$10.29 billion in revenue. The market is anticipated to expand by 2.91% yearly ( 2023-2027). Women’s Apparel is the market’s largest segment, with a market size of US$4.64 billion in 2023. So anyone can make the decision to start the fashion goods industry.
How do you start the fashion house?
Starting a fashion business is not so easy, but with the right preparation and knowledge, it can become profitable. The good idea is to start at the right time. You have to make a proper plan to get started and determine the type of fashion business you would like to run. Then you have to select a name for the business, and research and evaluate the market you want to enter. You have to create a detailed business plan, secure funding, and develop a marketing strategy. Don’t try to get a loan or other financing without a strong business plan.
2. Jute goods business:
Bangladesh is the key player in producing jute products in the international market. Jute is known as the “Golden Fiber” of Bangladesh due to its long history of production and export. Because of cheap raw materials and labor costs, Bangladeshi jute products have become highly competitive in the global market. Anyone can export jute or jute goods from Bangladesh with minimal capital investment, making it a prime destination for entrepreneurs looking to set up shop in the jute industry.
The Bangladesh government has taken the initiative to encourage small and medium enterprises (SMEs) and has established the Jute Industry Development Council (JIDC) to help these SMEs secure capital and explore new markets. Now jute is one of the biggest contributors to the Bangladeshi economy. Day by day the Bangladeshi government is increasing its efforts to enhance the jute industry by providing facilities for the growth of SMEs and other initiatives like a national jute policy and marketing networks to ensure that these entrepreneurs can make the most of their investments.
3. Leather goods business
The leather industry plays an important role in Bangladesh’s economy. New designs and creative, fashionable leather products have increased high demand for the leather goods industry. There are available sources of raw materials for the leather industry, such as hides and skins, from both domestic animals and imported leather.
The businessman gets huge amounts of skin from Eid and other festivals. The Bangladesh government also trying to help the leather industry by providing them with assistance to upgrade their infrastructure, as well as supporting small and medium businesses in this sector. The Bangladesh Small and Cottage Industries Corporation (BSCIC) is leading the government’s efforts to build a leather industrial state, providing assistance to upgrade the infrastructure, and supporting small and medium businesses in this sector.
4. Software business
These days, the software market is getting bigger. In a nutshell, this is what the industry for knowledge-based products and services is all about. The software industry in Bangladesh is a growing and changing part of the economy. Many groups are now trying to keep up with international standards and trends. With the rise of cloud computing and mobile technologies, the business world has grown a lot. Even though it’s not a new business, it’s easy to start.
The software industry has become a major driver of economic growth because of its high level of technology and the way the government treats it. To keep up with the speed of change and make the most of new technologies, software companies have had to make their business models more complex. Now, every business is run by machines. Software companies are making solutions that give their customers the most automation and efficiency.
5. Export Vegetables from Bangladesh
Bangladesh has a lot of production and export potential, which makes it a good place to sell vegetables. Bangladesh now sends vegetables to more than 40 countries, including countries in the Middle East, Europe, Africa, and the United States. Bangladesh sends fresh plants to more than 40 countries all over the world. Fruits, vegetables, potatoes, and spices are being exported more and more, which is good for our economy. It is now one of the best business ideas in Bangladesh. The export of horticultural crops has played an important role in Bangladesh’s economic development and contributed significantly to the country’s GDP.
How can You export vegetables from Bangladesh?
If you want to know the year-wise export quantity/potential click here.
6. Start a toy shop
All parents love their children. When a child asks for a toy, the parent won’t think twice about giving it to him, even if it’s too big for him. Over time, the market for toys in bd has grown a lot. There are now a lot of different toys on the market. Most toys come from China, and because they are cheap and have fun features, they are becoming more and more popular. Also, each toy is tested and approved to make sure it meets safety and quality standards. It ensures quality products. Because it’s so easy to get to the market, anyone can now open a toy store, either online or in person. To get more customers and make more money, you need to pick a good place.
With Facebook and Instagram, anyone can start their own business. It makes it easy for them to reach potential customers quickly. You can also use YouTube as a way to promote your products and grow your business.
7. Seafood exports
Bangladesh exports a lot of seafood, and the business is a big part of the economy of the country. The main exports are frozen fish and shrimp, and the EU, the US, and Southeast Asia are the most important markets. The country has a long coastline with a lot of different kinds of sea life. Because the coast has a lot of resources that the seafood industry can use.
Even though the industry faces problems like underdeveloped infrastructure and bad rules, it continues to grow and attract investment. But the government and people in the seafood industry are working to improve supply chain management and improve the quality of seafood products so that they meet international standards. This will help increase the export of seafood even more. People are choosing seafood instead of fast food these days.
8. Fruit exports
The procedure for exporting fruits from Bangladesh involves several steps, including:
- Selection of fruits: Choose the type of fruit to be exported based on market demand and availability.
- Obtaining certification: Obtain certifications such as the Health Certificate, Phytosanitary Certificate, and Export Permit from relevant authorities to ensure that the fruit meets international standards.
- Packaging: Pack the fruit in suitable packaging materials to ensure preservation during transportation.
- Storage: Store the fruit in a cold storage facility until it is ready for shipment.
- Shipping: Choose a reliable shipping company to transport the fruit to the destination country.
- Documentation: Prepare and submit all necessary documentation, including invoices, bills of lading, and export declarations to customs for clearance.
- Payment: Arrange for payment from the buyer, either through advance payment or a letter of credit.
9. Fish and Shrimps
Bangladesh has a large fish and shrimp industry, and this part of the country’s economy is seen as important. Bangladesh has a huge system of ponds, rivers, and the Bay of Bengal, which gives it a lot of water for fishing and farming fish. Because the country has a long coastline and is close to the ocean, it is a great place to farm shrimp. You must know what kind of business it is.
Bangladesh’s government has been supporting the growth of the fish and shrimp industry in a number of ways, such as by giving money to farmers and building up infrastructure. But there are some problems in the industry, like disease outbreaks, which can have an effect on production and exports. Even with these problems, fish and shrimp from Bangladesh are still in high demand, both in Bangladesh and around the world.
10. Software and ICT products
Bangladesh’s software market is growing quickly. The government of Bangladesh is now putting a lot of effort into making the ICT sector grow. The Bangladesh Association of Software and Information Services (BASIS) says that the software and IT services industry in Bangladesh is worth about US$1 billion. The government has also taken steps to help the sector grow by giving tax breaks, investing in building up infrastructure, and setting up software technology parks, high-tech parks, and other things.
Software development services, IT consulting, and business process outsourcing is Bangladesh’s biggest exports in the software and ICT sector (BPO). The country has a lot of highly skilled workers who don’t cost too much, which makes it a good place to outsource to. The United States, the United Kingdom, Australia, Canada, and the European Union countries buy most software and ICT products from Bangladesh.
But this industry faces a lot of problems, such as a lack of investment, research and development, financing, skilled workers, software marketing, payment gateways, and so on. However the government of Bangladesh is expected to grow more in the coming years because a lot of young and skilled people want to work in this field. The government of Bangladesh keeps improving its technology infrastructure and its people.
11. Coffee shop
people want to drink coffee. With so many new coffee shops opening in Bangladesh. It’s very easy to start up a business. Anyone can start a business with very little money. Coffee is an important part of the day for a lot of people. People often look for their favorite coffee shop when they go somewhere new or move. So, running a coffee shop is a way to meet people’s needs and make money at the same time. You can find coffee shops in almost every city in the world. They are a great place to start the day, catch up with friends, or take a break from a long day at work. Here are the simple steps you need to take to open a coffee shop:
- Make a business plan. This will help you figure out your goals, target market, budget, and the kind of coffee shop you want to open. Find out if there’s a need for another coffee shop in your area by researching the market, and think about what will make your coffee shop different and stand out from the rest.
- Pick a place to go: When choosing a location, you should think about things like foot traffic, access, and competition. Also, make sure to check the local rules about zoning and health.
- Get some money: Find out how much money you need and look into your options for getting it, such as loans or investors. You may also need to budget for equipment, supplies, and staffing costs.
- Get equipment and supplies: You’ll need to buy furniture, cups, and other supplies, as well as coffee equipment like an espresso machine, grinders, and brewers.
- Hire people and train them: Hire staff with excellent customer service skills and train them on coffee-making techniques, food preparation, and other duties.
- Getting your business known: Make a marketing plan with things like social media campaigns, print ads, and special offers to bring in customers.
- Start a coffee shop: Hold a grand opening event to get people talking about your business and bring them in. Keep telling people about your business and get them to stick with you.
12. Mobile App Development
Today, one of the most lucrative industries is mobile app development. The popularity of smartphones has led to an increase in the number of people who rely on mobile apps. Mobile apps have taken over our lives, playing a crucial role in everything from social media to online shopping.
As a result, app developers are in high demand, it is also a highly competitive industry with many developers vying for a limited number of positions and projects. It requires technical skills and innovation to stand out from the crowd. there are huge opportunities in this field.
1. The process of mobile app development: delve into the steps involved in creating a mobile app, from ideation to design, coding, testing, and deployment.
2. Popular tools and frameworks for mobile app development: Explore some of the most widely used software, libraries, and APIs that developers can use to build high-quality apps quickly and efficiently.
3. Monetizing mobile apps: Discuss different strategies for making money with your app, such as offering paid downloads or subscriptions, running ads or leveraging in-app
100 small business ideas in bd
Here are 100 small business ideas that anyone can consider to start a business in Bangladesh:
- Online tutoring service
- Social media marketing agency
- Mobile food cart
- Graphic design services
- Pet care services
- Home cleaning services
- Personal shopping and styling services
- Event planning and management
- Car wash and detailing services
- Custom clothing and tailoring services
- Translation and interpretation services
- Health and wellness coaching
- Photography and videography services
- Mobile phone repair services
- Content creation and copywriting services
- Handicrafts and souvenir shop
- Beauty and spa services
- Travel agency
- Digital marketing agency
- Gym and fitness center
- Organic food store
- E-commerce website
- Web development services
- Interior design services
- Social media management services
- Coffee shop
- Juice bar
- Boutique clothing store
- Wedding planning and coordination services
- Freelance writing and editing services
- Landscaping and gardening services
- Shoe repair and key duplication services
- Personal training services
- Car rental services
- Painting services
- Jewelry store
- Online bookstore
- Daycare services
- Language learning center
- Tutoring services for specific skills like playing musical instruments or drawing.
- Cybersecurity consulting services
- Real estate agency
- Marketing research and analysis services
- Social media influencer marketing services
- Mobile app development services
- Housekeeping and maid services
- Gift shop
- Fresh juice delivery services
- 3D printing services
- Wedding photography and videography services
- Career counseling services
- Fitness and yoga classes
- Music lessons and instrument store
- Healthy meal delivery services
- Office cleaning services
- Educational toy store
- Online coaching for skills like coding, video editing or graphic design.
- Bookkeeping and accounting services
- Custom-made furniture store
- Tour guide services
- Organic farm and produce delivery services
- Professional resume writing and career coaching services
- Health supplements store
- Online marketplace for local artisan products
- Home renovation and remodeling services
- Bicycle rental and repair services
- Personalized gift services
- Event rental services
- Customized t-shirt printing services
- Pet grooming services
- Mobile phone accessories store
- Bakery and pastry shop
- Online flower shop
- Barbershop and grooming services
- Career Training and Development Center
- Business consulting services
- Solar energy installation services
- Fish and seafood store
- Pool cleaning and maintenance services
- Property management services
- Catering services
- Organic fertilizer and gardening supply store
- Car wrapping and vinyl decal services
- Medical billing and coding services
- Freelance makeup artist and hairstylist services
- Craft supplies store
- Social media influencer agency
- Custom-made home decor and furniture store
- Online legal services
- Nanny and babysitting services
- Online home goods store
- Personalized cake delivery services
- Mobile screen repair and replacement services
- Professional organizing services
- Online marketing training courses
- e-commerce business
- Sewing and alterations services
- Professional development training courses
- Wedding gown rental services
- Online language translation services
What is the best business idea these days in Bangladesh?
There is no single answer to this question because the best business idea for each person depends on their own needs and interests. But here are some ideas for businesses that could make money in Bangladesh:
Businesses that sell or provide services online: These businesses may sell or provide a variety of digital products or services, such as e-commerce stores or online profiles for social media platforms.
What is the best way to get a business idea in Bangladesh?
There is no one “best” way to get a business idea in Bangladesh, as the best approach depends on the individual circumstances and goals of the entrepreneur. Some tips for getting started include:
1. Brainstorming ideas with family and friends: Asking others for their thoughts and suggestions can help you develop potential business concepts that you may not have considered on your own.
2. Researching the local market: Getting information about the local market and what is currently available in the market can help you better understand customer needs and find new and innovative ways to serve them.
3. Networking with other entrepreneurs: Connecting with other entrepreneurs and attending events and workshops related to entrepreneurship can provide you with valuable insights and connections that can help you grow your own business.
4. Developing a business plan: A business plan can assist you in clarifying your objectives, identifying possible obstacles, and developing strategies to overcome them.