Any kind of online business is profitable business not only in Bangladesh but also in any other country because it takes relatively small capital or intellectual asset and doesn’t require physical commercial space. Although online business is widely accepted business in developed countries, Bangladesh has lagged behind of online business.
At the beginning of this article, you will learn how to start online business in Bangladesh. Later, you will get 21 most profitable online business ideas. So, read the article till the last word.
Table of Contents
What is online business?
Online business is technology-based business. In this type of business, you don’t need any physical shop or office. In most cases, online business needs intellectual property. For example, E- Commerce business is a type to online business where hundreds of thousands of products are displayed in a website.
Anyone from any country can see the products description and pay for products through online. In Bangladesh, Daraz, Rokamari are well-known online E- Commerce business.
Why should you start online business in Bangladesh?
You should start online business in Bangladesh because Bangladesh has nearly 17 crores people. In January 2022, there were 52.58 million internet users in Bangladesh- Information Source. So, Bangladesh is a suitable marketplace for internet business.
Internet users in Bangladesh are upward trend. Hence, you have no chance to lose unless you fail to create trust among your audience. Remember that Alibaba and Amazon didn’t create in a day. They were able to create a trust and build a large community for online business.
How can you start online business in Bangladesh?
Some online businesses, you don’t need any trade license or TIN number or any document. For large online business such as E- Commerce or news portal, you have to register your business. You can start an online business by following some steps.
5 Steps to start online business
1. Find out your business idea
This is the first step to start your online business. In last section, you will get 21 most profitable online business ideas. You can start with one of them or brainstorm a new business idea.
2. Study the marketplace
At this stage, you have to find a marketplace for your idea. You can study about your idea on online so that you can find out targeted audience for your business. Use trial and error method to figure out a right marketplace along with right audience.
3. Calculate starting capital
Online business needs relatively small capital. For example, you can start blogging or affiliate marketing by paying hosting and domain price. For online based tech company, you need a mentionable capital. So, forecast your capital amount and arrange your initial capital. You can start with your saving or can take loan from relatives or other sources.
4. Implement your ideas
Finally, your time to materialize your idea into action. This is starting stage. By passing this stage, you are an online business holder. You can hire some employees in case you have started tech company or E- Commerce company.
5. Variance analysis
Last but not the least, you should periodically analyze variance for your business. Take necessary steps in case you have proceeded towards wrong direction. By analyzing standard deviation, you can track your goal. Reward yourself or your team in order to achieve long term goals.
What are the requirements of online business in Bangladesh?
Online companies need some documents. For example, business registration, TIN and some others documents. For blogging or affiliate marketing, on documents are compulsory. You can start with your own skill. If you have any skill, you can start without others’ help. Otherwise, you can hire individuals who work for you.
11 most profitable online business ideas in Bangladesh
1. Blogging Business
Blogging may be a great source of income and a profitable business if you can choose a right niche and create audience for this niche. If you start blogging as an online business, you can earn through many sources such as Adsense, Banner Ads, sponsorship etc.
But blogging needs writing skill and some years’ experience in order to earn money. By writing contents for your blog by yourself, you can dramatically reduce blogging cost.
Freelancing provides the diversified career opportunity by using home office and by working across the globe. Recently, many Bangladeshi have chosen freelancing as full-time business and they have been working independently from home.
It has created great opportunity to all. But Bangladeshi have yet to outperform in this sector because of two reasons: start freelancing without sufficient expertise and poor knowledge in English language.
So, you should not choose freelancing as a business unless you have achieved enough knowledge in freelancing. Try to excel your skill to survive in freelancing business.
3. E- Commerce Business
E-commerce business has countless possibility to make money on online. You shouldn’t start E- Commerce site without a team. To get motivated, think about Amazon or Alibaba. In Bangladesh, general people have less trust on E-commerce.
Merely a number of E-commerce sites have created trust among people in Bangladesh. For example, Daraz and Rokomari have gathered some trust. But still people feel fear to buy any product from online because E- commerce sites are continuously breaking the customers’ trust.
If you start an E- Commerce business, you should try to build trust in people’s mind. Otherwise, you will fail in E-commerce business.
4. YouTube Business
Like blogging business, YouTube is a profitable business. From my observation, YouTubing is more profitable business than blogging business in Bangladesh if you can target Bangladeshi audience only. Blogging needs English content to target across the world. But you have enough chance to grow in Bangladesh by making Bangla videos.
5. Affiliate Marketing Website
At present, affiliate marketing business has buzzword among the young entrepreneurs in Bangladesh. They prefer to sell from products giant E -Commerce Sites. By affiliate marketing, you can sell products from Amazon or Alibaba.
Affiliate marketers promote other products or services to sell. Affiliate marketers get commission from sale. Commission rate is high for digital products. So, try to find out a suitable affiliate marketing niche for your business.
6. Web designing, or developing Business
Full stack web developers have huge demand in developed countries. From Bangladesh, you can run your business across the world. At first, you can start with font end developer, or back end developer, or web designing. Later, you can expand your business as full stack web developer.
In Bangladesh, you can charge at least 1.5 lack to 2 lack for a company’s website. Thus, if you can able to complete 12 projects in a year, you can earn more than 1 lakh tk in each month. Remember that, you must become an expert in this field to earn more than an upper level jobholder.
7. App Developer
This is another most profitable online business in Bangladesh. For this business, you need technical skill about programming. You have to master on programming language. At first, you can share some apps on google play store so that you can show your work to potential clients. One software can be sold more than 1 crore tk if you and your team are able to create a demandable software.
8. News Portal
For running a news portal, you should spend whole day for it. Your audience expect updated news each time. So, you should collect all updated news for your audience. It is better to higher two or three employees for this business. According to present law, you have to register your news portal business in Bangladesh.
Like blogging, news portal has more chance to grow. For news portal online business, you need a strong traffic. The more you can create traffic, the more chance to earn. So, at the beginning, you should focus on creating a large audience. Indeed, it is good online business in Bangladesh.
9. Course Sale
Bangladeshi searches for technical courses such as web developing, app developing, SEO or educational courses. You can sell courses to targeted clients. Suppose, you have developed a SEO course. Your course value is 1000 tk. If 1000 people buy this course, your earning is 10,00,000 tk (1000*1000).
10. Online Coaching Business
You also can start online coaching program. For this business, you can collect audience from website, YouTube Channel and Facebook group. Then you will arrange short term coaching program for your audience. Suppose, you have offered 3 months coaching program. Program fee is 1500 tk. 100 students have admitted this program. Your earning is 150,000 tk (1500*100).
11. SEO Consultant
You can provide Search Engine Optimization (SEO) service in case you have skill and experienced on SEO. Being a SEO consultant, you can serve European clients from Bangladesh. You can open a SEO consultancy firm by hiring some individuals.
10 Less Known most profitable online business ideas in Bangladesh
12. Social Media Influencer
13. E- book Writer
14. Niche Website
15. Social Media Manager
16. Ad Consultant
17. Virtual Assistance
18. Drop shipping
19. Resume and Cover Letter writer
20. Technical Supporter
21. Financial Consultant
Read about Financial Ask’s All in One Section in order to learn investing, business and personal finance.
First of all, find out a profitable online business idea. Then implement this idea to start the real game. You can choose one of 21 online business ideas in Bangladesh. Finally, analyze the result periodically and take result-oriented action accordingly. Make a comment if you have any online business idea that hasn’t included in this article.