Top 5 Fast Growing Business in Bangladesh in 2024

Unemployment is a significant challenge in Bangladesh, impacting the nation’s economic growth and social stability. To deal with this challenge, It is necessary to build more business institutions in Bangladesh. After a deep research, I have identified top 5 fast growing business in Bangladesh.

Transcript

1. Top 5 Fast Growing Rakib Uzzaman, Digital Marketing Expert Visit for more: https://rakibuzzaman.net Business in Bangladesh
2. Table of Content 1. Introduction 2. Importance of Business in Bangladesh 3. Top 5 Fast Growing Business in Bangladesh - Content Creation Agency - Software Devlopment Agency - E-Commerce - Photography Agency - Dropshipping 4. Conclusion
3. Introduction Unemployment is a significant challenge in Bangladesh, impacting the nation’s economic growth and social stability. The country struggles with high unemployment rates, particularly among the youth and recent graduates. Factors contributing to this issue include a mismatch between educational outcomes and market demands, rapid population growth, and limited job opportunities in certain sectors. To deal with this challenge, It is necessary to build more business institutions in Bangladesh. 1
4. Importance of Business in Bangladesh • Business significantly contributes to Bangladesh's GDP. • The business sector creates millions of jobs • Businesses often invest in training and skill development • Businesses often contribute to the development of infrastructure • Business environment fosters innovation and technology adoption • Many businesses engage in CSR activities that benefits society 2
5. Top 5 Fast Growing Business in Bangladesh The business sector in Bangladesh is growing every day. Though it is associated with risk but success rate in business is also very high. If you’re looking to start a business, here are the top 5 fast growing business in Bangladesh that are in demand right now and can be considered as the most profitable business in Bangladesh as well. 3
6. 1. Content Creation Agency You will hardly find a business that doesn’t have a social presence. Previously we used leaflets, and posters to make people aware of a business, and now we use content. The importance of content is increasing and the demand for content creation agencies is increasing. 4
7. Why Content Creation Agency? • Business need a social media presence to create brand awareness • Some business require freelance content creator rather having employee • Profit margin is good • Do not require heavy investment • Demand of content creation is increasing 5
8. How To Start A Content Creation Agency? Content creation agency is one of the fast growing business in Bangladesh and it will not cost you much at the beginning. You can work remotely. • You will need a good quality DSLR camera with some accessories • A well-configured computer to run editing software • A videographer, a graphic designer and a video editor Also, you can contact freelance editors and videographers initially and save salary expenses by giving them project-based remuneration. 6
9. 2. Software Development Agency A software development agency in Bangladesh typically offers a wide range of services, including web and mobile application development, custom software solutions, e-commerce platforms, and IT consulting. 7
10. Why Software Development Agency? • Almost all the businesses have a website or use software • Software made business operations easier and cost effective • The rapid expansion of industries such as e-commerce • Profit margin is good • Do not require heavy investment • Demand for software is increasing 8
11. How To Start Software Development Agency? To start a software development agency, a good investment is not required at the beginning. • Hire 1 or 2 full-stack web developer • Hire a salesperson who can visit clients and handle meetings for you • Hire a project manager who can take care of project timeline and delivery As developing software is fully computer-based you can start remote office if you are on a tight budget or maximize the profit. 9
12. 3. E-commerce E-commerce businesses operate through various platforms, including websites, mobile apps, and social media, allowing customers to browse, select, and purchase products or services from anywhere in the world. 10
13. Why E-commerce Business? • E-commerce in Bangladesh has seen rapid growth in recent years • Emerging behavior of individual’s online purchases • Profit margin is good • Do not require heavy investment • Internet and technological revolution make it easy for customer to purchase 11
14. How To Start E-commerce Business? You can sell any kind of products on an e-commerce website but the most popular product categories are grocery, electronic, clothing, and organic foods. • You have to find a winning product, • Build a website and run marketing campaigns, get orders • Maintain a good inventory to meet the demands and deliver the product. There are many delivery rider agencies like REDX, and Steadfast who are renowned in this field. 12
15. 4. Photography Agency Ever since cameras became available the demand for photography and videography is on demand. From the past decade the demand for it in the commercial sector has increases and it became one of the fast growing business in Bangladesh. 13
16. Why Photography Agency? • The rise of social media increases the demand for high-quality content • The booming wedding industry desire professionally captured memories • Growing fashion, and advertising sectors require professional photography • Profit margin is good • Do not require heavy investment • Project based employee hiring is possible 14
17. How To Start Photography Agency? A photography agency in Bangladesh operates by providing a range of professional photography services to individuals and businesses. • Hire one good photographer and a video and image editor. • You have to invest in gear such as a DSLR, a soft box, others • A well-configured computer At the beginning, you can hire freelance photographers and editors who usually have their gear. 15
18. 5. Drop Shipping Business Drop shipping has emerge due to the boom of e-commerce business worldwide. Drop shipping is a method in which a store doesn’t keep the inventory, instead, it purchases from a third party when receives an order and ships it directly to the customer. 16
19. Why Drop Shipping Business? • Drop shipping businesses in Bangladesh has been rapidly increasing due to the rise of e-commerce • Increasing number of internet users in the country • With more consumers shopping online • Profit margin is good • Require a minimal investment • No need to maintain inventory 17
20. How To Start Drop Shipping Business? Drop shipping is a business model where the retailer doesn’t hold inventory or manage the shipping of products. • Find a winning product and build a website • Track each order and place it to the third party maintaining the delivery schedule. The model allows entrepreneurs to offer a wide range of products without maintaining the inventory. It is one of the most profitable business in Bangladesh as there will be no operating expense. 18
21. Conclusion In conclusion, due to the availability if internet and the revolution in technology, we have seen many fast growing business in Bangladesh. With a focus on innovation, entrepreneurship, and adapting to global market trends, Bangladeshi businesses are thriving like never before. In recent years, sectors such as technology and e commerce, have shown remarkable growth and have become key drivers of the country’s economy. Government also take necessary initiatives to encourage entrepreneurship. 19
22. Thank You Still have some questions in your mind? Feel free to ask me. Visit my website where I write exciting blogs on related to business and digital marketing. Email Me: intouch.rakib@gmail.com Website: https://rakibuzzaman.net/ Facebook: https://www.facebook.com/rakibzkhan/ Instagram: https://www.instagram.com/rakibzkhan/ 20