New Zealand is a best country to start a business.
If you are planning to start a small business in New Zealand and brainstorming about best small business ideas in New Zealand then look no more. We are sharing profitable business opportunities in New Zealand which you can consider in 2020.
Best Small Business Ideas in New Zealand
The tourism industry is growing rapidly. Hence, it plays an important role in New Zealand. It comprises 7.5% of the workforce in total.
It makes 5.6% of the nation’s GDP. Starting the tourism business is the best option with a wide range of services like adventure club, adventure tourism, community tour guide, etc.
2# Healthcare Equipment
New Zealand healthcare shows a steady rate. 9.5% of healthcare comprises of its GDP. You can start selling healthcare equipment if you have a background in healthcare.
Selling medical equipment, devices for diagnosis, medical software, stethoscopes, and surgical masks, etc.
3# Financial Advisory
Financial advisory services require expertise. Advisors are paid $250-$500 per year. One can set up this business and offers services like business plan preparation, business consulting, financial management, and tax preparation, etc. In financial services, you must get a New Zealand certificate.
4# Technology Devices
There is always a huge demand for technology devices in New Zealand. The tech company’s turnover rate is 15.9%, thus, this sector has immense growth opportunity.
You can enter this business and can start importing smartphones, tablets, and PCs.
5# Waste Recycling Facilities
In New Zealand, waste recycling is one of the best viable business opportunities. By 2025, New Zealand will increase its recycling rate to 60%.
You can start this business and can expect maximum profits. From waste, you can also make biofuel, which is an alternative energy source.
6# Legal Services
Legal services are required once in the life of any person. In New Zealand, the net profit margin of legal services is 14.48%.
One can start this business and provide services of not only lawyers, but notaries, settlement officers, and title search agents, etc.
7# Accounting Industry
Everyone needs the services of accountants. The net profit margin is 18.4% in New Zealand.
One can offer services of payroll, bookkeeping, tax preparation, etc. It has low overhead and repeats clients.
8# Cosmetic Business
The cosmetic business has a high price in New Zealand. The cosmetic category in New Zealand shows a 200% growth rate of people buying online cosmetics.
The demand for cosmetics is very high, so entering the cosmetic business is a smart move.
9# Fragrance Business
Fragrances have a huge market in New Zealand. Sporty and fresh scents are the preference in New Zealand. The global fragrance market will reach USD 20.8 billion by 2024.
You can enter this business and can start fragrance transporting, manufacturing or even marketing the fragrances.
10# Cab Services
Cab service is a booming business in New Zealand. Cab services cost around NZ$33 to NZ$90.One can start a cab service-related business because everyone doesn’t have a personal car. Therefore, they prefer to go to offices, schools and different places through this service.
If you have other business opportunities and profitable small business ideas in New Zealand which we missed in this list, feel free to mention in comment box. Keep visiting Startup Ideas.