Small business ideas in Vietnam you should consider – Successful business ideas

Vietnam is a great place to start a small business if you are looking at it the right way! With the right business ideas, Vietnam will turn into a very welcoming place for your business investments. Read more to find out!

1. Textile and Garment

One of the most lucrative businesses in Vietnam is the garment and textile industry. Foreigners and investors can make a profitable gain in this industry because it is considered to be one of the active sectors in terms of export. The competitive price of the Vietnamese textile and garment products lead Vietnam’s industry to gain a market share from China. In fact, there is a 25% export tax imposed by the U.S on garments and textiles coming from China, which gives Vietnam an enormous advantage to export garment and textile items to the United States. It is highly recommended that you start a business in this industry by creating an online ready-made clothing store or becoming a cloth merchant, as establishing a garment or textile manufacturing plant may be too costly if you’re looking for a small business venture.

2. Exports

There are several items in Vietnam, such as coffee, rice, rubber, seafood, and other electronics which are a hit in terms of exportation and are extremely popular. These items, and more, have a great demand to the outside world and beyond Vietnam, so this is most definitely an industry one can tap into if they’re interested. You may need to stay at a hotel in Ho Chi Minh, the likes of PARKROYAL Saigon, and meet up with potential suppliers before you establish anything on your own. You can also find clients for these products online, and your investment would primarily be to stock up on inventory and market them online in different portals! The demands are endless and this will keep your business going.

3. Food Business

If you’ve always had a flair for anything food-related. Then starting a bakery or a food business in Vietnam is a great choice. Not only is this a lucrative option, but it is also most likely going to be a successful business venture, especially if your business is unique and stands out from the rest. There are several products that you can make, and with a unique twist to this, you’re sure to attract many customers as people like to test and try out all types of food. Couple this business with delivery, and you’re pretty much set. A lot of Vietnamese people do not have the time to cook meals so they opt to buy food from outside, and this is where your business venture comes in.

4. Tourism

Another vital industry that is vital to the economy of Vietnam is tourism, as it is an extremely beautiful country with a lot of things to see and experience. A tourism agency or business would be ideal, as the country has a great blend of things to do from history, food, fun, and architecture.