Rwanda is a great and wonderful place to stay! It is also a great place to start your business in Rwanda. It is not a secret place to have your business in Rwanda, and business growth is very evident for most business people in the place. It is a strategically practical and wise thing to do because the place has a very high rate of success among business owners – big and small. In this article, we will discuss some tips on what business ideas are perfect for establishing in Rwanda.
However, before we start giving you some business ideas, let us first explore why Rwanda is a good place to establish your business.
Reasons why to establish a business in Rwanda
There are so many profitable business opportunities in Rwanda that have flourished big time.
Most business owners are seeking to even prosper their business because of the high probability of their business in Rwanda a success.
Here are the top 10 reasons why it is a good idea to establish a business in Rwanda:
Reason #1: Setting up a business is as easy as ABC
You would have no fuss in establishing your business in Kigali, but mostly in the entire country.
In the entire continent of Africa, Rwanda is one of the countries that have easy-to-do-steps in establishing a business.
If in some countries, registering your business in Rwanda takes up to weeks, or even days, to process, in Rwanda, you can set up your business in Rwanda in a day! Yes, you heard it right – one day! That saves you a lot of effort and time.
Rwanda Development Board also shares with you some startup ideas that could help you search for the right business in Rwanda for you.
Whether you are sharing your workspace or having it alone, Rwanda Development Board will be there for you!
Reason #2: Rwanda aims to increase economic development
The country is known for its ambition to increase its economy in no time.
To give a perspective, the country’s urbanized places constitute 17%, and its goal is to increase and reach it to 35%.
It may sound a little it ambitious, but business establishments in the country are great contributing factors to making this ambition into fruition.
Both sectors in private and public are obliged to deliver their contributions in achieving this goal.
This is one of the reasons why the country is very welcoming to business-minded people like you who are planning in establishing your own business in Rwanda.
Not only are you earning, but you are also helping the country in achieving its economic growth.
Reason #3: Efficient and organized servants
One of the reasons for investing in Rwanda is its very organized and efficient workers when it comes to doing business.
Having them as your people in your company will help you and your business in Rwanda grow.
Rwandans are also known to be very hardworking and strategic when it comes to their work.
They have the initiative in helping you earn more while spending less on building your business.
Establishing your business in Rwanda would be beneficial if you have a clear organization.
That means if you have the best, effective, and hardworking workforce.
Reason #4: Low criminal rate
In looking for a place to establish your business, one of the things you must consider is safety.
Rwanda, amazingly, has a low crime rate.
The country has the lowest rate when it comes to crime and corruption in the entire continent of Africa.
Rwandans are known to be very trustworthy.
You would not worry about doing business with them.
On the other hand, one of the things that you may worry about is the high frequency of policy modification in the country.
In fact, over the years, the country has had around 80 modifications made in their policy.
They are not too easy to adapt, though.
Reason #5: Strategic regional location
It may be true that Rwanda is a little bit low in its market size.
However, it has a strategic regional position on the entire continent.
What does this mean?
This means the location of the country is highly accessible to both local and international business firms.
Many international firms confirmed that the country poses a great safety when it comes to its market opportunities both in and out of the continent.
Also, its capital Kigali has a new railway that connects the said place to the different ports of the continent.
This opens a lot of business opportunities for the local and international markets.
Reason #6: Extremely high in market demands
Yes, the country may not be as huge as other countries, but is market demands skyrocket in specific areas.
This causes a huge need for suppliers in some sectors.
These sectors include energy, housing, construction, real estate, telecommunication companies, agriculture, food and beverages, and food processing.
The demands outmatch the number of suppliers in the country, so there is a great need for suppliers and business firms in the mentioned industries.
Reason #7: Great internet connection
If you think that the country has a slow internet connection, think again!
Rwanda has amazingly strong connectivity.
The country has even planned on making connections available in various places, especially in public places.
With the country’s great internet connectivity, you would always be in touch with your clients and still be able to attend to your business needs.
Reason #8: Discipline
Kigali, being the capital of Rwanda, is one of the cleanest in the entire continent.
It is spotless clean that you cannot even see single garbage along the sides of the streets.
A lot of you may ask, HOW COULD THAT BE?
The answer is simple: DISCIPLINE.
Most Rwandans are disciplined and have already built the habit of not throwing on the streets.
Reason #9: Increase in economic growth
You may think that Rwanda is one of the African countries that experience an economic slowdown.
Well, think again. Rwanda, along with other African countries such as Ivory Coast and Ethiopia, has a staggering growth of its economy.
It has a massive growth of 8% as of last year and is continually growing as of today.
Reason #10: Rwandans are disciplined and hardworking people
You may be doubtful of having to work with Rwandans and may think that they are too lazy to work for you.
Well, think again! Rwandans are known to be very smart, highly disciplined, and hardworking people!
Their work ethics will amaze you.
So, if you are thinking of hiring a pool of staff for your business, Rwandans are your perfect match!
Business Ideas in Rwanda
Now that you know the top 10 reasons why you should invest in Rwanda, are you convinced yet?
Here, we will discuss the best business ideas that you can put up in Rwanda.
Read on for you to find out the top 20 small capital business ideas in Rwanda.
20: Grocery Store
A grocery store is on the list of small businesses in Rwanda.
This is a good business idea because a lot need their supplies.
Your market covers all aspects of fro household to offices.
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You may also include bulk or wholesale ranges of price to create your profit.
This type of business is one of the untapped business ideas in Rwanda, if not in Africa because it does not require a very large amount of money to start with.
All you need to do is to look for good partners in the dealership.
Start small, end big!
With the myriad types of people in Rwanda, everyone needs transportation.
Everyone has to reach their destinations at some point.
In other words, transportation is one of the indispensable businesses in Rwanda.
What type of transportation should you have?
There are so many ways to think of it.
You can have a car or a van for rent.
You may also tap with a hailing app so that you are sure of having a rider now and then.
This business idea may require a little it of money since you are investing in cars.
However, if you have some used cars lying around your garage, maybe it is about time to get them to an auto shop and start the repair so you can start your transportation business!
If you are thinking big, you may start big!
The hotel business is starting to blossom in Rwanda, especially in its capital, Kigali.
This may sound a little bit ambitious, but you may always start with a small place to run and maybe in time, expand and develop it into a 5-star hotel.
With the massive number of tourists, both local and foreign, in Kigali, you will never run out of profit in a hotel.
If you want real money, you should start investing in a hotel today!
17: A barbershop
You may be a hairstylist, or maybe you are someone who is fascinated with fixing someone’s hair.
This is the right business for you – a barbershop!
This is one of the best business ideas in Rwanda because who doesn’t want a good hairstyle, right?
Starting this type of business is simple and does not require a lot of business capital.
You only need to look for a very good location, and your barbershop will earn in no time!
Food is a huge necessity in one’s life.
One cannot live without it.
So, a restaurant is one of the best business ideas in Rwanda!
You can never go wrong with food!
The only thing you need is to hire a good set of staff, especially a chef, who would complement your business.
Choosing the perfect location is also very crucial for a restaurant.
You should make sure not to situate your restaurant far from the rest of civilization.
So, choosing the right spot near the centre of the city is ideal.
15: Internet shop
Although there is free wifi in some of the public places in Kigali, it is also ideal for putting up your internet shop where people can browse the web.
Apart from the internet connection that you offer, you may also offer services which include printing, photocopying, and lay-outing.
These could boost your business even more.
This may be a little bit costly because you need to have a couple of computer units and they do not come in cheap prices.
However, you may start buying some second-hand computers which are still perfectly working, and you can start with your business.
If you have gained your profit, you may want to buy brand new units for more long-lasting efficiency.
14: Diesel company
If you want some really serious business (and I mean serious), you may want to put up your own diesel company.
This is one of the most profitable business opportunities in the place, especially its capital, Kigali.
With the increase in population, there is also an increase in transportation.
And transportation is your partner in building this business.
An increase in transportation means high demand for your company.
However, you may need a lot of cash for you to start this business.
But if money is not an issue, then establishing this is just a piece of cake!
13: A coffee shop
Most people start their day with coffee!
This is why you should also start your business with one!
Having a coffee shop is not a difficult business to put up.
Africa has good coffee farms which can be your source of really good beans.
Most of the Africans are coffee farmers, and establishing a coffee shop could mean a great help for most Rwandans who are experts in coffee.
In this manner, you are not just helping the economy, but you are also helping the locals in the country.
12: Online tutorial
Are you good at teaching?
If you are, then you can start an online tutorial.
This business is very timely, especially amid pandemic—a lot left at home.
Workers are working at home.
Students are studying at home.
So, having this means a lot to most students who are looking for a great avenue of expanding their academic progress.
Education never stops because learning starts in the womb, and it ends in the tomb.
11: Food delivery services
Again, with the COVID-19 pandemic, people are staying at home.
Many household members are opting to have their goods and supplies delivered at home, instead of them going out.
Having a food delivery service could be one of the great business opportunities in Rwanda.
Apart from food, you may extend your service to delivering some other goods.
This works better if you have riders and delivery staff who are good at locations and places.
Starting this is easy.
All you need are motorcycles and good-at-directions delivery staff.
10: Car spare parts shop
Most Rwandans have their cars and vehicles.
Having a shop that offers goods and services on car and vehicle needs is a great solution to most of their car-related problems.
The country is developing fast when it comes to its automotive industry.
This only means that having a car spare parts shop is one of the best business opportunities for you.
9: Bars and clubs
If your target market is the young and wild ones, you can always have a business in bars and clubs.
This could give you a great profit, especially because one of the target markets is the tourist.
Starting this business could be a little bit costly because you need to consider things such as the place, the building, the goods.
Of course, you need to have a good list of beverages for you to attract your market.
Also, you need to have the best set of teams who are good at bartending.
Once you settle with this business, a real and great profit is on your way.
8: A studio
If you are into photos and videos, you may want to consider putting up a studio.
This is one of the best and most profitable business opportunities in the place because you gain more but start less.
This is one of the most profitable business opportunities in the country, and all you need are a good camera, a great studio, and a great photography and videography skill!
Your target market would be those people who would like to document special moments such as weddings, birthdays, and parties.
I heard the commission and tips from customers are good at these very profitable business opportunities!
So, start now!
7: Space rentals
You should think of establishing a building for space and office rentals.
These types of profitable business opportunities earn high but require less capital.
What you simply need is space!
A place that you can turn into something that you can earn money from.
You do not even need to design the place.
You simply need to have a very good location.
One that is very accessible to almost all parts of the country is a very idea.
So, if you have space that sits idle for years, you can start converting it into something income-generating!
6: Travel and tours company
If you are a travel enthusiast, then it is time that you turn your wisdom into something you can earn from.
Starting this business is very simple.
You can even have it at home!
With a great team that is good at researching at wonderful tourist spots in Africa or all over the world, you can already income from simply typing, researching, and booking!
It sounds so easy because it IS really easy.
So, start your travel and tour company now!
5: Agribusiness exports
This is some serious business!
Rwanda is one of the business centres of Africa, and a lot of tourist investors have partnered in the exports of agriculture produce.
Here, you can export your products to different parts of the world!
You can also start partnerships with Americans, Australians, Canadians, and all sorts of foreign investors.
4: Agriculture industry
Agriculture is a basic need in the survival of most humans.
Without this, many would go hungry.
This is why you need to start your business ideas in agriculture.
One of the beautiful things about this is you are helping the local farmers in the country to have a stable income and contribute to the economic growth of the country.
3: A tailoring shop
If you are into sewing and dressmaking, this is the most suited for you.
The capital to start this business in Rwanda is low, yet the return of investment is high.
It is even very simple to start this.
All you need are great units of sewing machines and a pool of experts who would help you throughout the business in Rwanda.
2: Construction firm
If you are into building, you should try investing in construction firms.
As mentioned at the beginning of this article, the construction industry is one of the industries that is growing fast.
So, taking your investment in this firm would never be a waste of time, money, and effort.
1: Real estate
There is some real and serious money in real estate.
You can earn millions in a matter of one closed deal.
This may sound a little bit ambitious, but if you are in for some serious profitable business ideas, you can never go wrong with real estate in Rwanda.
Business ideas in Rwanda conclusion
Indeed, starting your profitable business opportunities in Rwanda could be the start of your great IGP (income-generating project).
Some are small, and other business ideas are big.
However small or big they are, having them in Rwanda would make them even bigger than what you started them at.
So, if you are thinking of putting up a business in Africa, have it in Rwanda!bb