Countries in South America are poised for growth in certain sectors and industries, creating the opportunity for new and aspiring entrepreneurs to launch many new business ideas.
Smart Home Builder
There is a growing need in South America to have energy and resource efficient homes. Compared to other countries, many South American economies need further support with new technologies to make their existing infrastructure better. Energy and resource wastage is among the highest in the world. This can start at the individual home level. By creating a smart home building company, you can tailor to the needed efficiencies while also providing the new homes for the future. If you have skills in construction or electronic sensors and data, this would be a perfect business idea for you to execute on.
Road & Bridge Development
As populations grow, there will be more demand for reliable and safe roads and bridges. There is even demand for the essential roadways and systems to be built, as this has been proven to constraint countries growth due to poor infrastructure for transportation. A road and bridge development company would need to use sustainable techniques to have a competitive advantage and to drive brand growth, as many Latin Americans want more sustainable brands.
Automated Farming Equipment
As a significant producer and supplier of the world’s food, areas in South America are poised to continue to feed the world. However, as the demand grows, farming techniques need to advance. There is research that shows there is significant room for automation to be utilized in the agricultural sector. This business idea focuses on selling automated farming equipment such as automated tractors. One could use the business model of being a dealer for automated farming equipment, or you could set up a service to have it done for people’s farms.
Construction Safety Management Company
With the growth in the infrastructure sector in South America, there will a growing need for more safety management companies. Especially since there is a shortage of technical professions, employers may have to seek employees from abroad so safety standards will need to be raised. For this idea, you would help other companies manage their safety programs, return to work programs when people get hurt, and make sure all potential regulations and laws are being followed.
There is a huge amount of manufacturing that takes place in South America. From electronics to airplanes, a wide variety of items are created there and that sector will continue to flourish. This business idea takes hold of that growth and the huge demand for sensors by becoming a wholesale sensor manufacturer. Sensors are needed in so many electronic products these days as we create smart devices, newer phones, and smart homes to name a few. This is more of a high-investment business idea, but it has the potential to be a multi-million dollar company.
South America is poised for an Internet Infrastructure Development Company. There is a growing need to have reliable and fast internet across every country in that area. Some places already have reliable internet sources, however, the rural and remote locations need the infrastructure built and there could be government grants or loans that will help you get started. This can be a medium-cost business as you can get grants, but the profit potential is great.
Blockchain technology could be used to create an import and export automation company. To make this business idea happen, one would create a blockchain ledger that would store the transactions and contents of peoples packages. An initial verification at the entry port would need to be done, but after that, it could potentially be sent around the world without needing to be checked at every border. This would save a significant amount of time at the borders in South America, but it also has the potential to fight against drug trafficking. To execute this business idea one would require a large amount of investment and patience to deal with government contracts. However, if the product was made right and contracts where established, this business could last for a long time. The graph below perfectly outlines that you could raise money from venture capitals or conduct an Initial Coin Offering.
Even the tourist industry needs automation. It mainly consists of some of the back-office tasks. This business idea would solve all these back-office administrative duties, so more employees can concentrate on providing a seamless experience to their potential and new customers. If you have a desire to learn and develop an automation business, this would be a great opportunity for you.
Online/ AI Investment Management
As Latin Americans become more wealthy, there is going to be widespread need across South America for investment management. However, with the new age of technology, expensive financial advisors won’t be needed. Instead, a similar approach can be taken from business ideas in the USA with AI investment platforms. This business idea would be able to have a strong competitive advantage but would require a large amount of funding to get off the ground.
There is strong research to show that the South American economies are in desperate need of higher education programs to fill the demand for educated citizens. There is lots of room for improvement from the current options so offering a private institution that takes a more unique approach from other western or eastern schools could provide a unique advantage for this idea. One could start small by offering a single degree vertical or specialty MBA to keep startup costs low.
Private Technical Schools
Like university education, there is a strong need for private technical schools. Many trades are in need of certified workers who can support the growing infrastructure, housing, and manufacturing industries that are growing every day. This idea could be similarly executed like the private universities by picking one vertical like electrical or construction, and execute on that course program for a group. This could be a low-cost business idea if you already have the certification and know what it takes to teach it.
Many Latin Americans want to support companies and brands that are sustainable and will be around for the long term. This is where the business idea of sustainability consulting comes in. One could start this idea with low capital investments and consult with current businesses on how they can make their supply chains or products more sustainable. A huge challenge identified related to this area is promoting the new sustainable practices in a way that will drive brand awareness and growth. If you have a passion for sustainability, this would be a great business idea for you
Drone Distribution Companies
The current state of Latin America infrastructure is not where it needs to be to distribute the coming demand for e-commerce products. To fix this shift and to make buying online access to all, one could start a drone distribution company. With little regulations around the industry, there is a lot of room for growth and taking the market share of traditional distribution providers. If you like this idea, you could start it with one single drone and a single shipping path and go from there. That would keep this business low cost in the beginning.
Package Delivery Services
This business idea may not seem new but there is demand for better and more efficient package delivery services. To differentiate from the drone delivery idea above, this company would use bikes or scooters to get around and deliver the packages. Again, the growth of e-commerce is only going to create more demand for instant delivery services. To make this even more independent of an idea, you could outsource all your delivery drivers by paying them a simple delivery fee for each package delivered. A similar model is the Uber model of getting others to do the work and you pay them a percentage of revenues.
Renewable Energy for Homes
Energy efficiency is significantly lower across Latin American countries when compared to the rest of the world, leaving a lot of room for competition to come in and improve upon existing setups. One business idea that would do just that would be a renewable energy home consultant. You would consult with homeowners on how they could install more energy efficient appliances and structures. For instance, solar panel roofing and radiant floor heating could be included in your portfolio of products you suggest for installations. To make money, you could charge a single consultation fee, as well as generate referral commissions from when you refer a specific product for a homeowner to buy and install.
If you are looking for a strong partner to help your company unveiling the Latin American market, bring your project to Braver and let us show you the way. Contact our businesspeople and get to know more.