Here are my 10 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- less competition). Go and start a company and attract all those 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 multi-millionaire while serving fellow Nepali and beyond.
- High unemployment rates means you can build a team around motivated youths who are desperately looking to stay employed. Plus, you get their goodwill and hopefully loyalty to build a sustainable company in the long run.
- Rest of Nepal is still beautiful and now awaits you, thanks to everyone moving to big cities like Kathmandu. Go back and build an opportunity in the forgotten rural areas while making an impact there.
- Youths are leaving to work abroad,(1500 a day in 2014), which means less competition for you.
- Workers abroad (2.5 million or more) send back more than US $5 Billion a year (2014). Find out how to do a good business catering to them and their families. The market for the poor is huge! Serve these billion dollar customers!
- Win business from customers by showing your consistently delivering track record and honest intentions! Many of your competitors might be taking the short-cut to success by using corruption. Take advantage of this unique situation. Learn that they can never compete against you in terms of transparency, honesty (and probably quality also). 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. I bet, you could 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 customer 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.
- No one cares. The old system is crumbling and there is no more of the strict societal and political bias against entrepreneurship. “Making profit is good” mentality is on the rise. Time to quietly rise and shine !
You have a choice right now: 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.