Top 10 Export Oriented Business Ideas in Bangladesh 2023 (Selected Carefully)

Do you want to start a business in Bangladesh? Here you can find the best business ideas in Bangladesh that are suitable for you. There are so many profitable business opportunities in Bangladesh because the country has an immense population and great potential for growth in various sectors. Anyone can enter the market with their own business idea and capitalize on the potential profit. Here I would like to discover some fast-growing business ideas in Bangladesh that have great potential to become profitable.

1. Fashion Goods Business:

Fashion Goods

Fashion is a very popular and lucrative business. It can run any season and at all times. I think it is an ever-evolving industry.  In the world market, new trends and styles are coming in and out of fashion on a regular basis. it is most profitable when designers and entrepreneurs are able to keep up with the changing tastes and styles of their target audiences. You can start a business in the fashion industry with very little capital also it is relatively easy to enter the market.  There is also the potential for large returns with investments in the right places.

Fashion products have export potential, which provides a great opportunity for entrepreneurs. It helps not only make money within the local market but also explore international markets. The fashion business has a high demand in the market and can be very profitable. However, the fashion business is highly competitive and requires a lot of hard work and determination to succeed.

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 take the decision to start the fashion goods industry.

How do you start the fashion business?

Starting a fashion business is not so easy, but with the right preparation and knowledge, it can become profitable. 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.

Key points of this business:

  • Starting a fashion business can be intimidating, but with the right preparation and knowledge, it can become rewarding.
  • You have to make a proper plan to get started and determine the type of fashion business you would like to run.
  •  You have to select a name for the business, research and evaluate the market you will be entering, create a detailed business plan, secure funding, and develop a marketing strategy.
  • Don’t try to get a loan without a strong business plan

2. Jute goods business: 

Jute goods
Jute goods

Bangladesh is a major jute producer in the world. Bangladesh has been a key player in the global jute trade. The jute of Bangladesh is known as the ‘golden fiber’. The country is the world’s largest exporter of raw jute and jute products. Bangladeshi jute dominates the global market. In Bangladesh, manufacturers manufacture various products from jute, such as carpets, mats, bags, baskets, and many more. Because of the abundance of raw materials and cheap labor in the country, anyone can start a jute-based business.

You can also export jute products to international markets, which is one of the main sources of income for Bangladesh. You can get subsidies from the Bangladesh government for jute goods exports. The Bangladeshi government has implemented several initiatives to encourage people to start jute-based businesses.

Key points of this business:

  • Bangladesh is a major jute producer in the world.
  • For centuries, Bangladesh has been a key player in the global jute trade.
  • The jute of Bangladesh is known as the ‘golden fiber’.
  • The country is the world’s largest exporter of raw jute and jute products.
  • Anyone can start a jute-based business due to the abundance of raw materials and cheap labor in the country.

3. Leather goods business

leather goods

The leather industry plays an important role in Bangladesh’s economy. New designs and creative, fashionable leather products have increased demand for the leather goods industry. The demand for the leather industry is rapidly increasing due to the enormous potential for employment, growth, and exports. It has a lot of possibilities for expansion, both in terms of domestic consumption and international exports. 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 raw material needed for leather goods production is readily available. There is also a cheap source of labor available, which has led to the rapid growth of the leather industry in recent years. The Bangladesh government has taken the necessary steps to encourage the leather industry by providing incentives for the setting up of leather goods factories.

Key points of this business:

  • Customer demand for new designs and creative, fashionable leather products has increased demand for the leather goods industry.
  • The demand for the leather industry is rapidly increasing due to the enormous potential for employment, growth, and exports.
  • 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, so the raw material needed for leather goods production is readily available.
  • The Bangladesh government has taken the necessary steps to encourage the leather industry by providing incentives for the setting up of leather goods factories, as well as easy access to credit.

4. Software business

Software business

The software market is growing in recent days.  This is the knowledge-based products and services industry in a nutshell. The Bangladeshi software industry is a vibrant, constantly-evolving sector of the economy. There are many organizations now trying to keep up with international trends and standards. The industry expanded greatly with the rise of cloud computing and mobile technologies.

High technology and a favorable government environment helped the software industry to become a major driver of economic growth. The business models of software companies have had to become increasingly sophisticated to keep up with the rate of change and take full advantage of emerging technologies. All businesses are now automated. software companies are developing solutions that can provide maximum automation and efficiency for their customers.

Key points of this business:

  • The competition in the software market is growing at a steady pace.
  • The Bangladeshi software industry is a vibrant, constantly-evolving sector of the economy.
  • There are many organizations now trying to keep up with international trends and standards.
  • The business models of software companies have had to become increasingly sophisticated
  • The business has to adapt to emerging technologies quickly.
  • Software companies are developing solutions that can provide maximum automation and efficiency for their customers.

5. Export Vegetables from Bangladesh 

Export Vegetables from Bangladesh 

Exporting vegetables from Bangladesh is very profitable due to its vast production and export potential. Bangladesh is now exporting vegetables more than 40 countries including Middle Eastern, European, African and American countries. More than 40 nations around the world receive fresh horticultural crops from Bangladesh. Export growth of fruits, vegetables, potatoes, and spices is increasing rapidly these days and contributing to 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?

The exporter must first receive an Export Registration Certificate from the Chief Controller in order to export vegetables or any other organic products from Bangladesh. Prospective exporters also need to register with the Export Promotion Bureau and obtain a license from the proper authorities.

If you want to know the year-wise export quantity/potential click here.

Key points of this business:

  • Exporting vegetables from Bangladesh is very profitable due to its vast production and export potential.
  • Bangladesh is now exporting vegetables to more than 40 countries including Middle Eastern, European, African and American continents.
  • More than 40 nations around the world receive fresh horticultural crops from Bangladesh.
  • Nowadays Export Growth of Fruits, Vegetables, potatoes and Spices is increasing rapidly and contributing to the economy of the country.
  • The exporter must first obtain an Export Registration Certificate and IRC from the authority in order to export vegetables or any other organic products from Bangladesh.

6. Start a toy shop

Every parent loves his child. when a child asks for a toy, the parent will not hesitate to fulfill the child’s request, even if it is beyond his capacity. The toys market in bd has grown drastically over the years. The market is now with a large variety of toys. Most of the toys come from china and they have been increasing in popularity due to their low cost and attractive features. Moreover, every toy is certified to meet safety and quality standards. It ensures quality products. This easy access to the market has made it possible for anyone to open a toy store, either online or offline.

Anyone can start a business with social media like Facebook and Instagram. It allows them to quickly reach potential customers. Additionally, one can use youtube as a platform to advertise their products and grow their business.

Key points of this business:

  • Every parent loves his child.
  • when a child asks for a toy, the parent will not hesitate to fulfill the child’s request, even if it is beyond his capacity.
  • The toys market in bd has grown drastically over the years, with a large variety of toys available for purchase.
  • Most of the toys come from china and they have been increasing in popularity due to their low cost and wide range of features.
  • Moreover, every toy is certified to meet safety and quality standards
  • This easy access to the market has made it possible for anyone to open a toy store, either online or offline.
  • Anyone can start a business with social media like Facebook and Instagram, allowing them to quickly reach potential customers.
  • Additionally one can use youtube as an effective platform to promote their products.

7. Seafood exports

Bangladesh is a major exporter of seafood, with the industry contributing significantly to the country’s economy. The main exports include frozen fish and shrimps, with key markets in the European Union, the United States, and Southeast Asia. The country has a vast coastal area with a rich diversity of marine life. Because the coastal area is providing ample resources for the seafood industry.

Despite facing challenges such as underdeveloped infrastructure and inadequate regulations, the industry continues to grow and attract investment. However, to further boost the export of seafood, the government and industry players are working to improve supply chain management and enhance the quality of seafood products to meet international standards.

8. Fruit exports

The procedure for exporting fruits from Bangladesh involves several steps, including:

  1. Selection of fruits: Choose the type of fruit to be exported based on market demand and availability.
  2. 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.
  3. Packaging: Pack the fruit in suitable packaging materials to ensure preservation during transportation.
  4. Storage: Store the fruit in a cold storage facility until it is ready for shipment.
  5. Shipping: Choose a reliable shipping company to transport the fruit to the destination country.
  6. Documentation: Prepare and submit all necessary documentation, including invoices, bills of lading, and export declarations to customs for clearance.
  7. Payment: Arrange for payment from the buyer, either through advance payment or a letter of credit.

 

 

 

 

1 thought on “Top 10 Export Oriented Business Ideas in Bangladesh 2023 (Selected Carefully)”

Comments are closed.