Many foreigners dream of starting a business in Indonesia, particularly in Bali. Not only that, but many Indonesians from other parts of the country come to Bali to settle down and start their own business.
Bali welcomes many visitors each year from all over the world. Many of them fell in love with it so much that they started their own business. They settled down in one of the island’s beautiful areas like Canggu, Sanur, Kuta, Uluwatu, Seminyak, and other areas with good business opportunities and a high standard of living.
Suppose you’ve visited the island before or intend to visit. In that case, you’ll notice that there are business prospects practically wherever you walk.
Before Anything Else
Like any other business venture in any other part of the world, you’ll have to complete some legal paperwork before you start a business in Bali.
To begin working as a foreigner, you must have the proper documents, and you might have to check in with immigration from time to time. The best way for you to start a business in Bali is to contact a business lawyer to help you get the correct visas and permits to start. With that in mind, here are some suggestions to get you started:
Many foreigners own Bali’s shopping establishments. They created a brand and breathed life into the industry. Anything’s possible to make it work with a bit of inspiration and effort. Each season, several of them present new collections.
You can start your own fashion business by networking and identifying people who can sew and make your things, such as shoes, clothing, and accessories. Bali’s artisans are highly skilled individuals who produce high-quality goods.
Due to Bali’s great reputation as a tourist destination, property prices have steadily risen for several years. Many foreigners invest in Bali’s hotel, resort, and restaurant industries. As a result, the demand for good properties in key areas is constantly increasing.
Seminyak, Ubud, Sanur, and Canggu are among the Bali locales where speculative gold mining for a property business occurs. Moreover, many expect property investment in Bali to be one of the most profitable industries for foreigners to pursue.
3. Hotel Supplies
Many people frequently believe that the folks who gained money during the gold rushes of the 1800s were the ones who supplied the miners with equipment such as picks and axes. Others believe the same concept can be applied to hotels in Bali.
The gold miners are the hotel and villa owners, but the real money is in providing all the supplies and equipment required to run the hotel. You might sell a limited number of items or the entire line.
Since the inception of tourism in Bali, gastronomy has always played an essential role. Restaurants are open and operating even now amid the COVID-19 pandemic.
What are the most popular foods in Bali?
In Bali, various sorts of food are popular: Korean, Japanese, Italian. Pretty much all food cultures have a place in Bali because it is a global destination with visitors worldwide.
Even residents are interested in tasting new cuisines, and many visitors appreciate the variety of dining options available in Bali. So opening a restaurant in Bali can be a viable option.
5. Touring Company
Before you get started, your touring company should not be like any other on the market right now. It should set you apart, and you can do so. There is a distinction between a licensed guide and a driver in Bali.
Add the extra service and security against coronavirus to set yourself apart. Provide tours in the customer’s native tongue. Customize their entire holiday from beginning to end to give them a truly unique Bali experience.
6. Commercially Oriented Digital Platform
Digital Platforms are undoubtedly here to stay. They are a growing sector in Indonesia that is open to international investors.
The current era practically connects everything with technology. Social distancing has taught the business world that most people can do their jobs with technology. A digital platform is essentially where producers and consumers can share information, goods, or services.
What does this mean in terms of Bali?
You can create social media sites like Facebook or Tinder that link travelers in Bali from all over the world with Pro and free accounts. Another option is to start an e-commerce business that offers things from Indonesia to customers worldwide.
There you have it: the six best sectors for you to start a business in Bali. Do you already have a sense of inspiration? The only limitation to starting a business is our own creativity. So what kind of creativity do you want to bring to the table?