Looking for profitable business ideas in Uruguay?
Uruguay is a country in South America located between Brazil and Argentina. Uruguay is characterized by a high literacy level, good infrastructural facilities, a high standard of living, economic, and political stability.
Though Uruguay has a small population, it has an advantage because; it is between Brazil and Argentina. It also has a vibrant tourism sector that attracts millions of people all over to world to the country.
5 Profitable Business Ideas To Start In Uruguay
Based on these reasons, starting a business in Uruguay is a good idea to consider, and below is the list of good business ideas you can start.
The demand for agricultural products is at a high increase all over the world. And this increase in demand has lead to an increase in the prices of agricultural products. This shows that the agriculture business is a lucrative business to do.
The favorable climate and low incident of natural disasters in Uruguay make it possible for agriculture businesses to thrive there.
So, investing in Uruguay agriculture is a good business idea. You can purchase or rent land to start farming and livestock production. You can then import the proceeds to sell.
If you don’t have time for farming, you can either buy lands and lease it out to the local farmers or employ people to help you work on the farmland and manage it for you. You can also start a food processing company where you process foods like, grains, meat, dairy products, fruits, and vegetables to sell in the local market or even export.
Another agriculture business you can do is selling and leasing of agricultural equipment to the local farmers.
Real Estate Business
The political and economic stability, high standard of living, the peaceful and serene environment, and other natural conditions has made the country of Uruguay attractive for living. Because of this many foreigners are flocking to Uruguay to settle down. This means that the real estate business in Uruguay is a flourishing one.
Also, the acquisition of landed properties in Uruguay as a foreigner is quite easy as one doesn’t necessarily have to be a citizen of Uruguay to acquire landed properties there. You can acquire landed properties and houses in Montevideo, Uruguay’s capital city because that is where foreigners prefer to reside and it is also the country’s tourism hub.
The countryside is the country’s agriculture hub, so, can also acquire landed properties there which you can resell and lease out those who need land for agriculture business.
Another lucrative business you can do in Uruguay is the Tourism business. Every year, millions of people from all over the world come to Uruguay for vacations. So, you can try out tourism-related businesses like a tour company that will provide tour services to the vacationer.
You can also start the business of selling goods that you know are essential for the tourists or products that will appeal to the tourist as souvenirs.
Spanish is a widely spoken language in Uruguay, so you can learn the Spanish language and offer the service of a translator to the foreigners who came to Uruguay for vacation but don’t understand Spanish.
You can also offer to teach Spanish to the vacationers who are interested in learning or a foreigner who has just relocated to Uruguay.
If you have the capital, you can invest in the hotel business as a hotel is very essential for the vacationers. You can also acquire properties especially in one of the Uruguay beach towns and rent them to vacationers that need them.
Another business service you can offer to the tourists is car rentals business. You can set up a car rental company that rents out cars to the tourists to make use of during their stay in Uruguay.
Setting up a food business in Uruguay is another good business idea.
You can set up a food stall in a very busy area and sell Uruguay’s popular delicacies like Chivito, Asado, Millanesa, Pascualina, etc. Uruguayans love meat, meat barbecue is a popular delicacy in Uruguay, so, you can set up a meat barbecue restaurant.
You can also choose to focus on the tourists; research about the country that has the highest number of its citizen visiting Uruguay for vacations.
Learn about their favorite foods and then set up a restaurant, food stall or a mobile food truck in the popular tourist areas like Montevideo, Piriapolis and Punta del Este to provide the tourist with their indigenous food.
Most of the business ideas I have suggested so far require relatively huge capital to set up. If you are interested in doing business in Uruguay and you don’t have the capital to start a good business there, you can start by doing one or two online businesses to raise capital.
Some of the online businesses you can do include software development, graphic design, digital marketing, writing, web development, video editing, and many more. You can offer these services to anybody anywhere in the world in the comfort of your home.
All you need to do is to choose the online you love, master it, and find someone who is already into it to put you through.
Another online business you can do is blogging. Because Uruguay is a tourist country, a lot of people who want to go there for vacation are searching online to get the necessary information about the country.
You can fill this need by setting up a travel blog that focuses on Uruguay and its tourism.
The information provided here is just to expose you to the basic business ideas you can do in Uruguay. You can then choose one or two of these businesses in Uruguay and thorough research about it before deciding to venture into it.