As businesses start preparing their budgets for 2021, the search for profitable emerging business opportunities looms around the corner. Indonesia offers significant opportunities for foreigners to register a business. The country holds the reputation as ASEAN’s largest economy, a young working population, and a fast-growing middle class.
But what business sectors are emerging and projected as profitable in Indonesia? To help you out, below are the emerging business opportunities you should look into investing in Indonesia.
B2B Support Services
There are over 58,000 new business registrations in Indonesia, and this number increases over the next few years. However, some new businesses don’t have the time or money to account for their budgets, maintain human resources, or legal enforcement.
It is reasonable for businesses to outsource services like this while concentrating on growing their resources or products. Thus, there’s a significant chance for business support services to prosper in Indonesia. Such B2B Support services include:
- Law Firms
- Executive recruitment agencies
- Workspace Providers
- Payroll and Tax Services
Another profitable investment prospect in Indonesia is e-Commerce. In fact, there are growing e-commerce start-ups continuing to gain profits in Indonesia. Such growth results from the increasing internet users in the country and the convenience brought by online shopping. Also, for registering e-commerce incorporation Indonesia is seamless and streamlined with the help of incorporation service providers.
The country provides many travel options for more than 17,000 islands throughout the 34 provinces. In the past years, up to 10 million foreign tourists visited Indonesia, and the number continues to rise over the years.
The Indonesian government issues visa-free regulations for foreign visitors from 169 countries. And it provides many possibilities for the development in the travel industry. The growth of the tourism industry for foreign investors is becoming a prominent area for business.
Manufacturing has been one of the main foundations of the Indonesian economy since the 1970s. Although the manufacturing industry once lost its momentum in the late 1990s after the Asian financial crisis, Indonesia managed to bounce back.
Presently, manufacturing remains one of the most attractive and successful business opportunities in Indonesia.
Infrastructure investment is one of the areas prioritized by the Indonesian government. For the past two years, the Indonesian government expects to spend 404 million IDR on multiple infrastructure projects, including bridges, highways, airports, and power stations.
The developing physical infrastructure opens up more immense opportunities for investors to actively participate in the development. Good infrastructure contributes to the improvement of Indonesia’s economic growth. In other words, infrastructure in Indonesia is becoming an emerging business opportunity.
What Does This Mean For You Then?
That there are many opportunities for new investors to explore Indonesia. While Indonesia is becoming a viable place to start a business, to register a business isn’t exactly an easy one. When it comes to laws, some sectors, such as e-commerce and technology, have a few extra obstacles to overcome before even starting business operations.
Luckily, a team of experts helps you accomplish these requirements and ensure that you set up your business quickly and effectively.
3E Accounting Indonesia supports your target markets by offering business incorporation services and connects you with market entry experts. Contact us, and let’s set up your business right on track.