Small businesses are the backbone of any economy, often starting with just an idea and a passionate entrepreneur.
Some of these enterprises, with the right mix of innovation, strategy, and timing, have the potential to grow exponentially and become major companies.
Here, we explore seven small businesses that are currently on the path of explosive growth and have the potential to become major players in their respective industries.
Aquaculture
Aquaculture is making waves in the small business world. With a growing global population and a rising preference for healthy seafood, fish farming has become a lucrative venture.
Small-scale aquaculture operations are tapping into this demand, producing high-quality fish sustainably.
To get started, research local demand for specific fish varieties. Proceed to secure a suitable location for fish farming. Invest in quality fish stock and efficient farming practices.
As you grow, endeavour to build distribution channels and target local markets.
Sell Organic FMCG Products
The organic fast-moving consumer goods (FMCG) market is booming, driven by consumers’ increased focus on health and wellness.
Small businesses entering this arena are offering organic alternatives to everyday products, from food and cosmetics to household cleaners. Identify trending organic products in your region.
Source products from certified organic suppliers and create an online or physical store with a diverse product range. Once you have your store in place, implement effective marketing strategies targeting health-conscious consumers.
Brands like “Organic Bliss” in Kenya are gaining traction by providing an array of organic choices, emphasizing quality and environmental sustainability.
Drop-shipping
Drop-shipping businesses are redefining the retail landscape. By collaborating with suppliers to fulfil orders directly to customers, entrepreneurs are eliminating the need for substantial inventory investments.
Many successful drop-shipping businesses, such as “EcoEssentials” in South Africa, focus on eco-friendly and sustainable products, resonating with environmentally conscious shoppers.
Is there a specific product you are interested in? If yes, then conduct market research on the product, Partner with a reliable drop-shipping supplier, set up an e-commerce platform and utilise digital marketing to reach a wider audience.
Sales of Solar Panels
Renewable energy solutions are on the rise, and small businesses specializing in solar panels are riding this green wave.
Solar panel sales and installation companies are empowering communities with clean energy options.
A notable example is “SunPower Solutions” in Ghana, which has expanded its operations to become a trusted provider of solar solutions, impacting both residential and commercial sectors.
They provide reliable and affordable off-grid, grid-tied and hybrid systems for homes, businesses and government agencies.
Jewelry Trading
By sourcing distinctive and culturally rich pieces, small jewellery businesses can captivate customers seeking individuality.
This is one small business that you should invest in. Get started by discovering unique jewellery sources, including local artisans.
Create an appealing online or physical jewellery store. Also, prioritise branding and social media promotion.
Gilded Gems in Nigeria is a shining example, curating and trading exquisite, handcrafted jewellery. Their dedication to authenticity and quality has propelled them to remarkable heights.
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