Are you looking best small business ideas in Saudi Arabia? Look no more. We are going to share best business opportunities in Saudi Arabia (Kingdom of Saudi Arabia) which you can consider in 2022 and 2023.
Best Small Business Ideas in Saudi Arabia
1# Healthcare Business
In the healthcare sector in Saudi Arabia, there are many opportunities as it is the largest sector in the east. The healthcare sector will grow by 13.7% by 2025.
In Saudi Arabia, the licensed medical facilities will grow from 40 to 100. One can open medical research and examination center, clinics, hospitals and can also open pharmacy.
2# Processed Food
There is a high demand for processed foods in Saudi Arabia because they are not that much available. Food imports are expected to increase by $35 billion in 2020.
Driven by processed food, it will grow at an annual growth rate of 5.9 percent from 2016 to 2020. This industry will grow at a considerable rate. This creates a business opportunity for importing processed food or start a fresh food restaurant.
3# Construction Business
The construction business is growing very fast in Saudi Arabia providing immense opportunities to investors.
For the next 10 years USD, $100 billion has been reserved for the planning purpose. One can enter with the right business model in the construction business by making and providing concretes for the building, slabs, tiles, etc.
4# Digital Marketing
Digital marketing has a huge prospect in Saudi Arabia. 600 startups are already planned under the vision 2030 project in Saudi Arabia, so there is an enormous opportunity because these startups will need digital marketing services. Provide digital marketing services to the client by forming an agency.
5# Bakery Business
Saudi Arabia is the 20th largest bakery products market. Almost everybody on the planet consumes bread and flour so the bakery business is a profitable one. It will experience growth that is a CAGR of 8.3% by 2021.
By establishing a bakery in Saudi Arabia, one can get a good return on investment. Online bakery business is a good option to start. One can sell cakes, pastries, biscuits, etc.
Saudi Arabia supports investing in educational institutions. Universities will expand to 12% by 2020. Therefore, it has a growing number of students.
Through Vision 2030, Saudi Arabia has set the target to increase the share of private schools to 25 percent in 2020. You can open schools, or college or can start an online education service.
7# Agriculture Business in Saudi Arabia
Crops like date palms, barley and wheat are higher in demand. Consequently, due to harsh weather conditions in Saudi Arabia, these crops can survive as compare to others. 30% of the total food available for consumption is provided by this sector in Saudi Arabia.
A total of 910,000 workers are involved in the agriculture sector and contributes 53 billion SR annually to the GDP. You can start cultivating crops or can open farms.
8# Solar Energy
Saudi Arabia’s climate is best for solar energy. It works as a source of energy. It is also considered as the source of power supply.
24 GW of renewable energy will be completed by 2020. 200 Gigawatt of solar power will be installed until the year 2030. You can supply solar panels or can start a solar panel company.
9# Car Accessories
Car accessories play an important role in the auto industry in Saudi Arabia. Vehicle sales will increase by 3.6% until 2023, therefore, demand for car accessories will also grow. One can open a car accessories store with moderate startup capital.
10# IT Market
Saudi Arabia has the largest IT market. IT market will grow to raise the GDP by 20 percent by 2020. There is a rise in demand for advanced technology infrastructure so one can import and export such technology and that will be an excellent opportunity.
11# Translation Service
Language translation service is a quite profitable idea in Saudi Arabia. Arabic is the official language of Saudi Arabia. If other than Arabic, you have reasonable command over at least one foreign language, you can start your translation business forthwith. In Saudi Arabia, there are more than 13 million foreign nationals. Such a large number of foreigners in a country creates greater opportunities for language translation.
You can start a language translation service without any funds.
12# Taxi Shuttle Service
If you have your own car with a valid driving license, starting a car shuttle service is a great startup idea in Saudi Arabia.
In 2021, the expatriate population of Saudi Arabia is 13.49 million. Such a large number of foreigners coupled with millions of Muslim pilgrimages which visit Saudi Arabia every year creates golden opportunities for a business like a taxi shuttle service in Saudi Arabia.
You can start your taxi Shuttle Service without any lengthy plan.
13# Opening a Maid Recruitment Centre
Saudi people generally belong to the upper and rich classes. They hire maids for household tasks related to kitchen, cleanliness, laundry service, ironing, etc. Maids belonging to Asian and African countries are preferably in demand.
You can start a maid recruitment agency. You are supposed to properly interview and collect the data of maid candidates before their recruitment. However, you have to strictly comply with Saudi rules and regulations in the recruitment and hiring process.
Maid Recruitment Agency may be started in Saudi Arabia as a lucrative small business venture.
14# Open a Language School
The official language of Saudi Arabia is Arabic. English is a second form of communication. It is widely understood and applied in different sectors like business, education and official communication, etc.
In Saudi Arabia, a large number of foreigners aspiring for work and study need to learn the Arabic language for better communication with Arabs. Learning a language is a multi-billion industry in the world.
Opening a language learning school is a good startup idea in Saudi Arabia.
15# Green House Farming on Commercial Basis
Greenhouse farming is a modern concept for getting better yield from a piece of land that has an otherwise low fertility level and unfavorable environmental factors. Greenhouse farm is a hut-like structure with the availability of controlled and quality fertilizer, light, irrigation water, etc. It also protects the crops from external threats like pests, insects, and extreme weather.
Quality vegetables and fruits can be produced from greenhouse farming on a small-scale basis with a low startup cost for a better source of income.
16# Offering Professional Services
Saudi citizens show little interest in acquiring professional degrees like Medical, Engineering, or Business Administration. Their lack of interest in higher education has created a shortage of such professionals in their country. The Saud government has to look towards foreign nationals to join them and fill the gap.
If you are a professional degree holder and have sound knowledge and hands-on experiences in your field like medicines and engineering etc., you can start your own business with a small startup cost by offering your professional services.
17# eCommerce Store
Digitalization has transformed and restructured many sectors of life. Conventional stores are undergoing a transitional phase. These stores are being transformed into eCommerce stores.
In the digital world, many overhead expenses have come to end for setting up an eCommerce store. It can now be started with a low start-up cost but having a wider market.
PS: Soon, we will share more business opportunities and startup ideas in Saudi Arabia with you. Keep visiting Startup Ideas.