To know if there are good and profitable business ideas in El Salvador, you need to read this post. El Salvador is a very good place to start business considering many factors.
In El Salvador, both foreign and local investors are equally treated under the law. El Salvador has made free trade agreement with several countries like Panama, Guatemala and so on. The country is a business city and one of the most financially sound countries in Central America.
As an individual or entrepreneur that wants to start business, El Salvador is the place for you and your business. Some of the business ideas that can be started in El Salvador are:
This is a great business idea in El Salvador because the country is one of the most industrialized countries in Central America and also very populated. Basically, the exportation of Maquila has increased the growth of the export sector in El Salvador and has contributed heavily to the economy.
You can have a manufacturing facility that manufactures knit garments, shirts, polos, sleep wear, lounge wear, security uniforms, law enforcement uniforms and so on.
Some of the basic things you need as a manufacturer of textiles are sewing factories, warehouses, pattern making technologies and techniques. DR-CAFTA provides an opportunity of free duty for manufacturing companies in El Salvador which is an advantage to manufacturers.
Local foods outperform transnational products in El Salvador which therefore makes agriculture a profitable and thriving business there. The country has a program for farmers known as Family Agriculture Program as part of their goals to revitalize agriculture in the country.
The locally bred seeds in El Salvador tends to be more successful than imported ones, you need to put this into consideration when starting your agricultural business.
Agriculture in El Salvador requires canny farming techniques, advocacy and good business practices mainly because of the seeds that are to be produced locally. About 20% of corn seed originated from the local fields in the Lempa Region.
There are many companies and industries in El Salvador that needs advice on how they should run it and still achieve the business goals. To start this business, you need to be very good at it and have full knowledge of whatever service you will be offering in your consultancy firm or company.
El Salvador is a country popular for its Pacific Ocean beaches, mountainous landscapes, surf spots and so on which makes it profitable for a tourism business.
Establishment of Schools
The current government in El Salvador has made education the topmost priority of the country, it follows a 9-2-5 educational system and the only public school in El Salvador is the University of El Salvador [research has shown that it is also the largest]. El Salvador is a country that takes education seriously.
This automatically gives you the choice to establish either a school for basic education, general bachelor’s degree, university or all of the above.
El Salvador has lot to offer in relation to planning events and meetings. It is a business that requires exotic, luxurious and pleasant venues considering the fact that El Salvador is a financially sound country and is the main hub for some airlines like TACA Airline. You can also build convention centers and hotels with meeting rooms as parts of your event management and planning.
As an event planner, you can help plan for upcoming events and conferences in El Salvador, you can also have a chain of restaurants if you want to expand your business.
The important and central thing in this business is to plan events that will be safe, successful and also yield good result on your own part and also create less impact on both the residences and business communities in the same surrounding with the particular event.
El Salvador is popular for events like: festivals, parades, international sport events, carnivals, concerts, rallies and so on.
This is another business idea you can start in El Salvador. Banking is very well concentrated in El Salvador. El Salvador is a leading country in terms of Corporate and Investment Banking and its main focus is to provide transactional and structured solutions to largest local companies and other subsidiaries.
This therefore gives a conducive and suitable environment to banking business in El Salvador, you can also get involved in the banking business helping local companies both large and small to get solutions for their structures, give advice on banking and also offer other banking services.
Look at all the business ideas I have explained above and look for the one that capture your spirit. Do a research on it and find out how profitable it is to know if you will like it before embarking on it.