What are the best businesses to do in Mauritius?
Mauritius is a very beautiful country with tourist attractions for everyone who chooses it as their destination. Apart from this, the country is also one of the most developed in Africa. For this reason, investors from different parts of the world always choose to do investment in Mauritius for their best business.
The good thing is that the government has made it easy for foreign nationals to move here for fun and study, invest, and retire in Mauritius.
Mauritius is renowned for its people’s kindness and friendliness towards everyone who comes to the country.
Its GDP has been stable for a few years now, having a mixed, strong, and developed economy — talk of financial services, agriculture, tourism, real estate, and exports.
All these reasons rank it among the most thriving, efficient, and transparent environment in the region.
And since the Mauritian government moderated the regulations of acquiring business permit and residence permit, both locals and foreigners have opened different types of entities.
The tax system in the country is also very favorable for everyone.
Now, if you want to own a business in Mauritius, here are some of the things you need to know and a few business ideas that you can consider before you get started.
Business Opportunities in Mauritius
More than three decades ago, Mauritius was known for sugar production, which dominated the country’s economy.
However, today the country has grown into a diversified and sophisticated economy, whereby the tertiary industry accounts for more than 70% of GDP.
The most domineering sectors include manufacturing and tourism.
This growth and positive change in the Mauritian economy is all thanks to the unique and friendly business environment created by the government to attract local investors and foreigners.
That said, here are some of the sectors you should consider for the most lucrative business opportunities in Mauritius.
- Financial services, including accounting, auditing, and financial consultation
- Hospitality and property development
- Healthcare and medical travel
- Distribution and logistics services
- Information technology
- Aquaculture and Seafood processing
- Renewable energies and the environment
Best Business to Open in Mauritius
While Mauritius is one of the best business environments, don’t miss my post on how to start a business in Mauritius, prevent to start any trade blindly. Follow your passion and before you start the business, get to know the rules and regulations of that business idea, and if it is profitable in the country. We will provide you with a list of small business ideas that you can consider and then choose wisely.
We are living in a digital world, and technology is driving everything. In this case, if you can start a business that provides an internet connection, it will thrive.
The first business option is an internet café whereby you set up some computers and other devices with a high-speed internet connection. And even if some people rely on their laptops and smartphones for online services, they will still need you for some reason. For instance, people who need a gaming PC or those who want to play multiplayer games will be your daily customers. Secondly, you can start the business of supplying the internet. Internet service providers are a big deal in the country, and you can become one.
The tourism sector is one of the most thriving industries in the country, and it comes with different business opportunities for both locals and foreign investors.
The fact is that there are numerous fun activities, and every year tourists will flock to the country for a taste of the fun. Now, what if you make their visit to the country stress-free and comfortable. You can provide sightseeing deals or offer accommodation through collaboration with resorts and hotels, and your entity will never lack customers — tourists and tourist attractions never go dry in Mauritius. Take advantage of this small business idea but before you start, set your records right with Mauritius Tourist Authority.
Mauritius is a small island country, and most items are imported from different parts of the world. This means that delivery services are always on demand.
If you do not have a huge capital, you can start small by delivering groceries, books, or small electronics and electrical, among other things. However, if you have more money, you can invest in a delivery truck(s) and deliver larger items to make good money from it. All you need for this business opportunity is an office, an active telephone, and a few delivery employees.
Eating lunch from a restaurant every day for many employees is nearly impossible since it would be quite expensive.
That said, if you can start a business of supplying different types of meals to people working in offices, it could be a great opportunity in Mauritius. You can either cook the food yourself or collaborate with local food sellers to deliver their food. Corporates might hire you to provide lunch to their employees rather than cooking for them in the company.
Start a call center
As technology continues to advance, most consumers use the internet and smartphones to inquire before making a purchasing decision.
In this case, every company needs top-notch customer care services, so call center outsourcing is becoming popular in every company. All you need to leverage this business opportunity in Mauritius is a few active telephones and a stable internet connection.
Oil and lubrication entities
Oil and oil-based products are used in different sectors, including manufacturing and transportation.
This means that such products will always be required out there, making it a viable investment idea. If you can import these products and repackage them into smaller cans, you can, for sure, make great profits.
In an economy domineered by tourism, you can never go wrong with a restaurant or any food trade. You can start with a food cart, and this will not require huge capital.
Make sure you diversify your menu to cater to everyone, including foreigners who would love to have a taste of their home country food once in a while. Build your brand, and when you are ready, a restaurant would be a great opportunity in Mauritius.
Invest in farming
Agriculture is another industry that is always booming in the country. The good thing is that you can choose from different farming options.
With the current growth in technology, farming is becoming continuously easy to manage and also cost-effective. You can consider some of the profitable businesses are chicken rearing for both meat and egg, snails, fruit processing, flower exports, cattle for meat and milk, and vegetable processing.
You might also be interested in this: Investment Models in Mauritius
Which Business is Most Profitable in Mauritius?
Before you start a business in Mauritius, you need to evaluate market status, commercial feasibility, and the future possibility for success and growth.
And while there are different small businesses you can consider, here are a few that the most profitable. They are profitable businesses because they come with a little capital investment.
Roadside fast food
We have already said that you can never go wrong with any food entity. As long as you maintain cleanliness and offer various cuisines, you will make good profits despite starting small.
Providing office supplies
Most people working in offices have no time to go shopping for their stationeries. And if you can take advantage of this problem, you start your small business today. Think of all office accessories and then approach different local offices for tenders. Referrals will come in handy — just be patient.
With the steadfast growth in technology, people use the internet to do the shopping, and almost every company, including small businesses, is using it to drive traffic and increase sales. In this case, if you understand website designing, SEO strategies, and online marketing, you are a business opportunity in Mauritius already — and the business idea is on demand.
Internet trade is one of the most profitable businesses in Mauritius and all over the world. The good thing is that you do not need to have a physical office. You can sell anything from your living room, home store, or whichever place you choose for your goods. Sometimes you can make deals with producers or wholesalers to only go for items when you get orders, which means starting a business without stock at hand — but still make profits. Just learn how to market your products online, and everything else will be good.
Tutoring is becoming more popular every day worldwide, and you can take advantage of it as a profitable business opportunity. You can teach academics to your students or other soft skills such as music and get paid for it. Parents are always looking for ways to make sure their children get the best education, and you can offer these services both face-to-face or online.
Selling used items
People will always embrace any idea that allows them to spend less on something they need as long as it is in good condition. Selling second-hand products is a thriving investment idea in Mauritius, and you can make good profits from it. You start your business small, ensure you have quality products, and focus on customer satisfaction.
Benefits of Doing Business in Mauritius
Social and political stability
Mauritius is among the best democratic countries in Africa and has a peace index of 1.51. Mauritian people are also quite friendly and welcoming, and when it comes to the crime rate, it is among the lowest in the region. These are some of the things investors will check before they start a business in Mauritius or anywhere else — the stability is considerably perfect for any small business. Here I posted more about the reasons to invest in Mauritius.
A healthy economy
Mauritius’ economy has been thriving and stable for a long time — it is among the best in sub-Saharan Africa. Every investor would love to own a business in such an economy because chances of failure are low.
Availability of talented workforce
The Mauritian government has put effort into ensuring that its people get quality education in the country. The adult literacy rate stands at 91 percent, meaning that there are great professionals from all fields, including financial analysts, lawyers, accountants, IT engineers, tax specialists, and architects. You can rest assured that you will get skilled workers, Mauritian citizens, and expats from other countries.
Whether you are a foreigner or a Mauritian citizen, you are bound to enjoy numerous tax benefits in Mauritius. The island nation is referred to as a tax haven having a corporate and VAT rate of 15%, a CSR tax of 2%, a personal income tax of 15%, a land transfer tax of 5%, and no taxation on capital gains and dividends. This makes it easy to operate any entity without hefty taxation and fines for not paying or filing returns on the same.
Mauritius’ infrastructure is well developed with reliable connections from one place to another. These include the roads, ports, sea links, and air connections with different parts of the world. Other stable connectivity developments include high band fiber cable, reliable mobile telephone networks, flight forwarders, courier services, and fully serviced industrial and business parks. The government is still putting more effort into upgrading the infrastructure, which is why you start your small business in the country.
- Mauritius is ranked as the best financial hub for those who want to open offshore companies, banks (Read more about Mauritius Banks the How to List 2021), or even work in the country.
- Mauritius’s doing business comes with easy access to markets in European countries, the United States, and different African countries through official agreements — Cotonou agreement.
- Mauritius has favorable labor laws, providing a conducive work environment for both citizens and foreign national employees.
Business plan Mauritius
They say that failing to plan is equivalent to planning to fail.
And while planning can be a tedious process, you still need to prepare it for Mauritius’s profitable business idea.
A business plan is a form of a guidebook, outlining details such as type of your entity, management structure, financial flow, market structure, and products and services, among other things. For your business in Mauritius, here are some of the details that you must include on it.
The cover page
A cover page may sound senseless to some people, but they say that the first impression matters a lot. This is the first thing that investors or potential customers will encounter your business in Mauritius. At a glance, they will know the type of product and services you are dealing with, and if they are interested, they won’t need to peruse all the pages to locate your contact details. Also, some may lose interest if your cover page is not interesting or engaging in any way.
Now, after the cover page, the executive summary is the next thing that will influence any investor’s decision to either continue reading the entire business plan or not. Therefore, you have to put more effort into developing this section for your business in Mauritius. It should tell something about your organization, including your objectives and how you are planning to achieve them. Even if the executive summary is not too long, the people who read it should grasp a greater understanding of your entity — enough to make a decision.
An overview of your organization
In this section, you need to tell the reader more about your new idea. This includes details such as inception date, number of employees you have or anticipate to employ, your vision, and mission of the business opportunity in Mauritius. These people do not know you or your investment idea, and through this segment, they should get this information.
This is a section that outlines the financial position of your business in Mauritius. Every investor would be interested in this segment. Therefore, outline your equity details, including the number of resources you have, current and expected incomes, capital you need from investors, and how much they should expect as a return. These statistical data will showcase your preparedness financially.
Different sectors in Mauritius are performing differently, and you need to prove to your readers that you understand your industry of choice.
How will your company thrive in this industry?
What are the opportunities available, and how do you intend to overcome the sector’s current challenges?
Also, identify some insurgencies that you think might affect the industry in the future and why it is all worth it.
Customer, market, and competitive analysis
Here, you must identify your target audience for your company. What are their qualities, and where do they come from?
You do not want to offer something that contradicts people’s cultural beliefs. Therefore, prove to your potential investors that you understand your potential customers and plan how to reach out to them. You also need to outline how you stand out or plan to differentiate yourself from competitors. All these details will win trust from investors, local authorities, and shareholders, among other stakeholders in your small business.
Don’t miss my post on How to start a business in Mauritius.