Here are my 10 weird reasons for you to start a business in Nepal now.
- Overwhelming majority of educated people opt for a non-profit or government or private sector ‘jobs’. (leaving the race wide open for you). Go and start a company and attract all the smart people to actually work for you.
- There are crisis all around (electricity, water, fuel, communication, inflation). Remember crisis is an opportunity for an entrepreneur, and for you to become a billionaire while serving fellow Nepalese.
- High unemployment rate (45%) (and perhaps more among youths) means you can build a team around motivated youths looking to stay employed. Plus, you get their goodwill and loyalty to build a sustainable company for the long run.
- Rest of Nepal is still beautiful and now awaits you, thanks to everyone moving to big cities like Kathmandu. Now go, build an opportunity around this while making an impact by serving in rural areas discarded by most..
- Youths are leaving for work abroad,(560,000 in the last 11 months), which means less competition for you to implement your ideas.
- Workers abroad (2.5 million or more) send back more than US $3.5 Billion a year. Find out how to make a good business catering to them or their families. The market of the poor is huge! Serve these billion dollar customers!
- Many of your competitors might be taking the short-cut to success by being corrupt. Take advantage of this unique situation. Learn that they can never compete against you in terms of transparency, honesty (and probably quality also). Win business from honest customers by showing your good track record and intention! If your corrupt rivals try to out- maneuver you, challenge them to open their accounts, and get the sensation hungry media on them or the government watchdogs to inspect them! (For example Open a good hygienic ‘gudpak’ or sweets shops to out-compete with corrupt, shady ones that exist today. You would win! )
- We are fast becoming a consumer driven nation. We buy a lot and throw away a lot. From cloths to recycling there is opportunity. Why do you think there are 1000′s of families dedicated to recycling our trash? Why do you think shops after shops are opening in Malls? Serve our consumer driven nation with quality, affordable price and superior service!
- Industries built right after civil strife or wars can last for a long time as proved by the industries that opened after the Second World War in much of Europe and US. So start now when there is less competition. And we just stopped killing each-other i.e we got out of the civil war.
- No one cares. The old system is crumbling and there is no more of the strict societal bias against entrepreneurship. “Making profit is good” mentality is on the rise. Time for you to quietly shine!
You have a choice: Either make your own dreams come true or “you will be hired to make some-one else’s dream come true.
Thank you to Prasanna Dhungel for edits.