EMERGING SMALL BUSINESS IN PAKISTAN
Small business is getting popular all around the world. Modern technologies have provided many platforms and assistance to small businesses. It was never so easy to do solo business, in the history of humankind as is today.
Pakistan as an emerging economy is also witnessing a rise in small business for these reasons.
- Online platforms have provided a variety of opportunities.
- The inflation rate has made people take initiatives for additional income.
- Students have started earning income through small businesses.
- Housewives have started earning from small projects.
- The culture of online academies has introduced people to new ideas for earning.
Online platforms like Daraz have opened a new market for average IT skilled people to start their business with the lowest capital. For an ordinary person having little knowledge of the trade and IT, Daraz has proved to be a successful business model. Daraz has helped those people who can create artwork but had no access to markets.
Now they can present their artwork at Daraz right away. Due to the rise in inflation, people have started to seek resources for additional income. An average person wants to start a business with little, or without any investment.
There are stories of people who have started kitchen gardening at their rooftops and have started earning more than 20/30 thousand per month. There are examples of people who have started preparing dry fruits & vegetables through a drying house. A normal drying house, of 500 kg capacity can be built on the rooftop with the investment of 50’000/ and can produce Rs 30-35 thousand per month profit.
There are a lot of examples where students started a small business and they succeeded.
They make it for their team building and dedicated efforts. Normally students are attracted to E-commerce businesses.
like we have seen a rise in the number of housewives who have started their food business online.
Women can be successful naturally in food items. Facebook provides them a good platform for selling their unique products. There is a big gap for customized backing products, organic pickles and jams are highly successful small business ideas in Pakistan. A rise has been seen among women who have started makeup salons in their homes.
Business education was sacred knowledge in past.
People who could not be afforded Business school were compelled to learn the business from the market where learning was not free of risk. With the rise of knowledge-based economy and internet facilities, now learning business is so easy but it has still a language problem.
Most of the information available on the internet is in the English language but fortunately Knowledge-based economy has provided us an easy solution.
Now there are online academies that are teaching people eCommerce fundamental ideas through WhatsApp and zoom classes.
And there is a class of people who are making YouTube tutorials in local languages.
All these factors have contributed to emerging small businesses in Pakistan.