How to start a Successful Small Business in Zambia?PHCS
How to start a Successful Small Business in Zambia?
Do you desire to learn how to start a small business in Zambia? If this is your dream, then be happy as the article would provide you with the ultimate step-by-step guides on how to plan and start a successful small business in Zambia.
With over 18+ million people in Zambia, you have an upper chance of starting a successful small business in Zambia.
The major industries or sector that driving the Zambia market are agriculture, mining, food stuff, tourism etc. However, there are many small businesses that haven’t been explore within the Zambian economy and these business are in great demand.
No matter the typr of small business you want to establish on Zambia, these are some of the essentials things you must do before you start your small business.
Main Steps on how to start a small business in Zambia
Step 1: Conduct a feasibility studies
Before you start any business in life, the first step everyone takes is to ask some key questions about the functionality of the business. This step is called a feasibility studies. Conduct a feasibility studies on the type of business you want to operate.
Ask questions such as who will be my customers? where will I be located? how will I make money from this business? How will customers know about my business? Etc. Ask the above identified questions. The answers you will get will enable you plan well towards the business you want to operate.
Step 2: Choose a business name
After deciding on which business you want to operate in Zambia, the next bold step is to choose a name for your business. This is very important step, even though many often ignore it.
Every business needs a name that identified it. So make sure to choose a business name that identified your business.
There are many ways to name your business in Zambia. You can name your small business after you. For example, if you want to start a blog business online and your name is called Zulu, you could name your blog as zulublog or zulugroup etc. Similarly, if you are called Tembo, and you want to operate a fast food business in Zambia, you can name your fast food restaurants as Tembo Café Restaurant.
You can also name your small business in Zambia after the type of products or services you provide.
However, take note that, no matter how you want to name your business, let the business name you selected be unique, and easy to be remembered by everyone.
Step 3: Select the best location
The key to success in starting a small business in Zambia is to establish your business in a strategic location. Location is everything when it comes towards running a small business.
Unless, you are providing online services, as long as your products are to be consume by someone, you will need to locate your business closer to the road network.
Beside, operating your business along the road side, also note that some business is highly affected by the town or city. For example, a manicure and pedicure business will do far better in Lusaka and Kitwe than in Lukulu and Chama.
So, if you want to start a successful business in Zambia, you might need to check the type of business and the town or cities where you want to operate the business. However, below are some of the best cities to start a small business in Zambia.
Step 4: Observe your major competitors
Don’t forget to observe what your major competitors are doing and try learning from them. This is very important you learn from those that are already operating the same or similar business like the one you want to start.
Learn their type of products or services they offer, study their customer services or approaches, observed their pricing strategies, their promotional strategies etc.
Identify what they are doing poorly and take advantage to improve in your current business.
Step 5: Write a business plan
The next step towards starting small business in Zambia is to write to write business plan. A business plan here is simple what you want to do and how you want to do it.
A business plan will you focus on the important steps you need to take. It will also help you to know what short terms goal to take and what long terms goals you will need to achieved in the long run.
In this business, write where you buy and where you will sell, who will be your major suppliers etc.
Also, take in considerations all the possible risks that can results from starting the business and develop a plan on how to overcome them.
Step 6: Register your small business
No one runs a business in public without the consents of the authorities. So, as long as you have an office space, make sure you register and license your business.
The registration process of small business in Zambia is not the same as that of other countries. So, make sure you get help or advice from an expert to guide you on how to go about the business registration.
Step 8: Promote your small business
Promote your business using billboards flyers. Of course, the type of promotional strategy you will use would depend on the type of business you are operating.
Word of mouth, would be the first promotional strategy you must employ. Share your business to your friends, family and neighbors.
Also, use discount as a strategy to get customers for your business. Keep your prices low so as to attract customers, but don’t sell before your production cost in order to avoid business fallout.
Step 9: Take your small business online
Almost everyone in Zambia uses a cell phone. Since 2015, the number of youths and adults using the internet has risen very rapidly in Zambia.
So make sure to always try to market or promote your business online. Create flyers and stickers and share online. Create a social media page on Facebook for your business.
Step 10: Keep records
Record keeping is very essential for new business start-ups. At, the start of your small business, keep a detail records of every decision you make. Every sale, every profit, every expenses incurred during the business.
These records would help you be able to determine if the business is going ahead or behind or its just within the same level.
Records keeping would also help you understand your business market trend. To know what month or period of the year do you have high sale and what period do you have low sales.
Record keeping will also help serve as a reminder for you to pay all your taxes on time.
Small business ideas for Zambian Youths
- Affiliate marketing
- Content writing
- Real estate services
- Travel agent
- Interior design business
- Laundry service business
- Graphic designing and web building
- Home base tutoring
- Fast food business
- Car wash business
- Hair salon business
- Manicure and pedicure business
- Beads making
- Youtube videos making (Skit making)
- Online tutoring
- Provide consultancy service
- Start a cleaning services
Starting a small business in Zambia is easy. You don’t need a university degree before you start a small business in Zambia. With the steps provided above you can be guarantee the success of your small business.
Now is the right time to take actions, start the small business you ever desire. Having your own business is far better than having a job.
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