We are living in 2023, where no business guarantees success. Instead, the market has been so ruthless that a business in-trends today might not perform well after 5 years. And to succeed in 2023, we need to follow a specific pattern. A pattern that tells us about the mindset of people and where they are heading. By understanding the direction of people, we might get an idea of their needs today or a year later.
Following this process, we have listed 7 businesses and a BONUS business you can start in 2023. The best part is that none of these are seen to become extinct in Pakistan, at least before 2030. So, here are the best businesses in Pakistan for 2023, 2024, and 2025.
- HealthTech and Telemedicine
- Education Technology
- E-Commerce and Online Marketplaces
- Digital Marketing and Services
- Renewable Energy
- Poultry Farming
Now, let’s look at each business in detail with examples.
1. HealthTech and Telemedicine
The healthcare sector in Pakistan is undergoing digital transformation, with the adoption of telemedicine and HealthTech solutions. Increasing internet connectivity and smartphone usage have paved the way for virtual consultations, remote patient monitoring, and health-related applications. The COVID-19 pandemic further accelerated the adoption of telemedicine services. HealthTech companies develop and provide healthcare software, apps, and devices. They can help patients manage their health, connect with doctors, and receive treatment more quickly.
Case Study: Sehat Kahani, a telemedicine platform in Pakistan, connects patients with qualified female doctors through video consultations, providing access to healthcare services in underserved areas. The platform has gained recognition for its impact and scalability.
2. Education Technology
The education sector in Pakistan is witnessing a shift towards online learning and digital solutions. With a large population and a growing emphasis on education, there is a demand for online tutoring, e-learning platforms, and skill development programs. EdTech companies have the potential to cater to this demand and make a significant impact on education in the country.
Example: SABAQ, an EdTech startup in Pakistan, offers interactive digital learning content for students, focusing on improving their foundational skills in subjects like mathematics and science. The platform has gained recognition for its innovative approach to education.
Karavan is another Pakistani EdTech company that provides online courses for students from kindergarten to grade 12. The company’s systems are taught by qualified teachers and cover a wide range of subjects. Karavan also offers live classes and one-on-one tutoring.
Case Study: In 2018, a Pakistani entrepreneur named Shahzad Saleem started an EdTech company called Code Ninjas. The company offers coding classes for kids aged 7-14. Code Ninjas has over 100 locations in Pakistan and has taught over 10,000 students.
- The EdTech industry in Pakistan is worth over $500 million.
- The average Pakistani spends $50 on EdTech services per year.
- Pakistan’s most popular EdTech categories are online courses, coding classes, and language learning.
3. E-Commerce and Online Marketplaces
The e-commerce sector in Pakistan has been experiencing significant growth in recent years, driven by increasing internet penetration, digital payment adoption, and changing consumer behavior. Platforms like Daraz.pk, Alibaba’s Daraz Group and others have gained prominence.
This presents a huge opportunity for entrepreneurs to start their own online businesses. There are a number of different e-commerce models that can be successful in Pakistan, such as selling products, dropshipping, or providing services. According to a report by McKinsey, Pakistan’s e-commerce market could reach $1 billion to $2 billion in annual sales by 2025.
Example: Daraz is a Pakistani e-commerce company that has grown to become one of the largest online retailers in the country. The company was founded in 2012 and has since raised over $1 billion in funding. Daraz offers a wide range of products from electronics to fashion to home goods. The company has over 10 million active customers and delivers to over 100 cities in Pakistan.
Case study: In 2018, a Pakistani entrepreneur named Umair Usman started an e-commerce business called The ShoeMart. The company sells shoes and other fashion accessories online. In just two years, The ShoeMart has become one of the most successful e-commerce businesses in Pakistan. The company has over 1 million active customers and generates over $10 million in revenue annually.
Here are a few e-commerce stats in Pakistan on the basis of recent years.
- The e-commerce market in Pakistan is growing at a rate of 25% year-on-year.
- The average Pakistani spends $100 online per year.
- The most popular e-commerce categories in Pakistan are fashion, electronics, and home goods.
4. Digital Marketing and Services
The digital marketing industry is also growing rapidly in Pakistan. This is due to the increasing number of internet users in the country. Digital marketing can be used to promote businesses of all sizes, from small startups to large corporations. There are a number of different digital marketing channels that can be used, such as search engine optimization (SEO), pay-per-click (PPC) advertising, social media marketing, and email marketing.:
The mother branch of Digital Marketing is Freelancing. There have been several services like graphic design, content writing, etc. The problem with these services is that the market has become oversaturated. On the one hand, individual service providers are facing problems, while on the other, when paired with digital marketing services, these can skyrocket the growth of businesses.
Example: Tapmad is a Pakistani digital marketing agency that has been helping businesses grow their online presence since 2012. The agency offers a wide range of digital marketing services, including SEO, PPC advertising, social media marketing, and email marketing. Tapmad has worked with a number of high-profile clients, such as Telenor, Careem, and Honda Atlas.
Case Study: In 2017, a Pakistani entrepreneur named Ahsan Ali started a digital marketing agency called The Digital Tribe. The agency specializes in helping small businesses grow their online presence. In just two years, The Digital Tribe has helped over 100 businesses increase their website traffic and generate more leads.
- The digital marketing industry in Pakistan is worth over $1 billion.
- The average Pakistani spends $87 on digital marketing services per year.
- The most popular digital marketing channels in Pakistan are social media, search engine marketing, and email marketing.
5. Renewable Energy
Pakistan is facing energy challenges, and there is a growing focus on renewable energy sources to meet the country’s power needs. Solar, wind, and hydroelectric power are areas of significant potential. The government has implemented favorable policies and incentives to attract investments in renewable energy projects.
Case Study: The Quaid-e-Azam Solar Power Park, one of the largest solar power projects in the world, located in Punjab, exemplifies Pakistan’s commitment to renewable energy. It has a capacity of 1,000 MW and contributes to reducing the country’s reliance on fossil fuels.
Agriculture is a crucial sector in Pakistan, and the application of technology in agriculture (AgriTech) presents significant opportunities. Startups focusing on areas such as precision farming, agricultural machinery, supply chain optimization, and farm management are emerging in the country. These technologies aim to enhance productivity, reduce wastage, and improve farmers’ incomes.
Case Study: Ricult, an AgriTech startup in Pakistan, provides farmers with data-driven insights, weather information, and access to financial services, helping them make informed decisions and improve their agricultural practices.
The financial technology (Fintech) sector in Pakistan is gaining momentum, driven by increased smartphone usage, digital payments, and financial inclusion efforts. Mobile wallets, digital banking solutions, and payment gateways are areas of growth. The State Bank of Pakistan has introduced regulatory frameworks to support Fintech innovation in the country.
Example: JazzCash, a leading mobile wallet in Pakistan, has experienced significant growth, providing convenient and secure digital payment services to individuals and businesses across the country.
EasyPaisa, another Pakistani fintech company that provides mobile payment services. The company has over 100 million active users and has processed over $10 billion in transactions. EasyPaisa allows users to send and receive money, pay bills, and buy airtime and data.
Case Study: In 2018, a Pakistani entrepreneur named Kashif Ansari started a fintech company called NayaPay. The company provides mobile payment services and also offers digital wallets and other financial products. NayaPay has over 1 million active users and has processed over $1 billion in transactions.
- The fintech industry in Pakistan is worth over $1 billion.
- The average Pakistani spends $51 on fintech services per year.
- The most popular fintech categories in Pakistan are mobile payment, digital wallets, and lending.
8. Poultry Farming (A Bonus Business Idea)
The poultry farming business scope in Pakistan is very promising. The country has a large and growing population, which means there is a high demand for protein, and poultry is the primary source of protein available to even lower classes. In addition, the government of Pakistan is providing incentives for poultry farmers, such as tax breaks and subsidies.
Example: Muhammad Poultry Farming Group in Sillanwali, a tehsil of Sargodha, has gone past 35 Units (Sheds) In the last 18 years. At the time of the start, they had only one. Additionally, they also head Hayat Feed Mill.
Case Study: 1 Poultry Unit, sometimes called a shed, contains an average of 30,000 broiler chickens. The average life span of poultry chicken in farming is 40 days. In 40 days, expenses go about 2.5 crores, and the return on investment reaches 150% on average.
NOTE: At The Times of Pakistan, we will share insider secrets of the poultry business and how to start it, especially when you do not have an investment of 2.5 crores. Make sure you are attached to The Times of Pakistan. Do comment as well if you are interested to know more about poultry.
Please note that you need more than just a business idea. There are several other factors you must keep in mind in order to run a successful business.
Do write a comment below if you liked the article.