In the National Budget speech delivered on June 2021, Minister of Finance & Economic Development, Mr Renganaden Padayachy, emphasised boosting the business sector to recoup the Mauritian economy. The dynamics of the business sector have changed all across the globe. Taking the pulse of the new transformations, the Ministry of Technology, Communication & Innovation has included multiple measures in the Digital Mauritius 2030 Strategic Plan. Owing to the support extended by the government and the changing business trends around the world, some existing business ideas have skyrocketed, and also many new ones have started mushrooming. This article shares some current and new business ideas for aspiring entrepreneurs in Mauritius.
List of the upcoming best Business Ideas in the Digital Sector
Business Idea 1: Web Designing
Even though the web designing idea is not a revolutionary one, it still has a rapidly growing market. Moreover, it is not only relevant to large businesses but also the small ones. Since small businesses lack the know-how and the luxury of having an in-house IT team, web designers come to the rescue to help them reach out to their digital perspectives. This is a low-cost business idea as you would only need some web designing skills and a computer to execute. Next, you can begin by approaching every local business in your town to see if you can help them.
Business Idea 2: IoT-home Builder / Consultant
The Mauritian government has released many plans to support digital transformation in the country. The support has opened up new opportunities for businesses to thrive. Home automation is one such example. As an Internet-of-Things (IoT) builder or consultant, the business can collaborate with homebuilders or owners to transform their living space with automation as per their liking and convenience. For example, helping the owner switch the air-conditioning on even before they enter the house. This business idea is relatively low-cost, as the parts for the IoT installations are pretty cheap. And you would find customers who would pay up-front for such services.
Business Idea 3: E-commerce Niche Store
E-commerce in Mauritius is catching up. Post-COVID, many Mauritians are opening up a small business in their homes and selling online. This has created niche markets in the digital space. The exposure and accessibility available on digital platforms are helping business to grow with more ease though with limited resources. Once cargoes start operating normally, it will be possible for the Mauritian e-commerces business to deliver internationally, too.
Business Idea 4: Online Tutoring
If you are an expert at a specific art or a particular subject, you could become an online tutor for it. To be a tutor, you essentially require a bachelor’s degree or an equivalent diploma in the subject or art that you intend to teach. Then you can join online platforms like Udemy, Tutor or Skooli to find your prospective customers. It is essential that you share your skills and constructive knowledge that your students will be able to learn and apply in their lives. For best results, the skill must positively enhance their work or lives.
List of Business Ideas in Other Sectors
Business Idea 1: Warehouse/ Inventory Management for E-Commerce
To support e-commerce in Mauritius, there is a growing need for inventory management companies. They need third parties to fulfill the requirements of managing e-commerce stocks because of all e-commerce businesses will be able to set up their own distribution channels and manage their logistics. So, a warehouse or inventory management business has tremendous scope to scale and make massive profits.
Business Idea 2: Social Impact Investment Funds
There are over 300 active NGOs in Mauritius. Not surprisingly, the pandemic has adversely impacted the number of donors, volunteers, and social activities. NGOs no more have the resources to address social issues right up to their root causes. This has created an opportunity for social enterprises, which will meet the social needs of the society while simultaneously creating a sustainable business from it. Investors are showing interest in investing in impact-oriented businesses. Therefore, starting a business around social impact investments will involve fundraising in socially responsible and positive earth-impacting ventures.
Business Idea 3: Last-Mile Delivery Solution Company
Once the cargo-filled ships reach Mauritian docks, the shipping companies face the problem of delivering the goods to the warehouses as well as the customer’s doorstep. This is because the road infrastructure is still developing in remote areas. Moreover, everything is quite far from each other. Having t buy a fleet of vehicles to enable transport to different places in Mauritius will be an added burden to the shipping company. Therefore, opening a last-mile delivery solution company is a new avenue aspiring entrepreneurs can invest in to exploit the massive potential of business growth and profit.
Business Idea 4: Print on Demand
Print-on-demand is a business model for items that need be produced or kept ready in your stock. This saves you the cost of manufacturing and warehousing of your unsold products. This business idea can be adopted to sell custom designs on items like phone covers, mugs, t-shirts, etc. As soon as you receive an online order, you need to design your product and then collaborate with your suppliers to print and ship it to the customer. Businesses that sell personalised gift items thrive on this business model.
Business Idea 5: Healthy Meals-to-go
There is probably no limit to the number of people who look for healthy cooked meals that are reasonably priced. And Mauritius is no exception. The fact that every nook and corner has a doll-puri vendor in Mauritius validates the presumption. Day-by-day, people are becoming health conscious. If you can cater to the healthy-meal needs of the people just in your vicinity, you’ll be surprised by the numbers. A meals-to-go business can also be managed from a shared rental kitchen. This makes it a low-cost business idea that would thrive well if your prospects find the meals tasty, hygienic and convenient.
This is just a non-exhaustive list of the next business ideas that would flourish in Mauritius. However, we suggest you focus on the idea that would best align with your abilities and interest. To discuss this further, feel free to write to us at hello@turbine.mu.
