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Good Business Ideas In Indonesia – I am writing this as the pandemic is growing worldwide. People are looking for business opportunities. A way to earn and live. Especially in Bali, where tourism was the main source of income. Now, expats and locals alike are looking for new businesses, business opportunities, starting their own companies and earning a good income.
The governor of Bali, Wayan Koster, also wants the island to stop relying solely on tourism revenue. (Source: Bali is trying to diversify its economy and rely less on tourism) Creativity and agriculture (mango steen, dragon fruit) are to be explored. But before we get to the potential opportunities, I want to let you know everything you want to know about starting or even buying a business in Bali.
Good Business Ideas In Indonesia
In Indonesia, foreigners cannot set up a company (or work in one). For this you need some legal documents. If you work for a company, you will need what are known as KITAS and IMTA. Kitas is your residence permit in Indonesia and IMTA is your work permit.
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IMTA is often taken care of by the company to which the foreigner applied. Permitting investors is more difficult. There are certain age restrictions and tenancy conditions. The rules change from time to time and it is easier to read the immigration requirements for permanent residence.
Currently, assets in Bali are no longer assets. They became a liability. Some hotels, restaurants and other types of businesses do not generate income. But they still need maintenance, and the property still needs to be paid for.
This forces them out of the market as the owner tries to mitigate the loss as much as possible. This could be an opportunity to buy your business in Bali. On OLX, Indonesia’s digital marketplace, any type of commercial business you might be interested in is listed:
Prices are different and you should evaluate the situation yourself. Will Bali open soon, what will the tourist flow be like when it opens. There are always risks associated with buying or leasing a business in the long term.
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Well, we have just covered the legality and potential of buying an existing property. Now is the time to check the potential of new businesses in Bali. There are many more possibilities, I will list just 11 ideas off the top of my head.
Many of Seminyak’s boutiques are foreign owned. They established a brand and gave life to this industry. With inspiration and effort it can work. Many of them show new collections every season.
You can start by networking and finding people who can sew and make your products: shoes, fashion clothes, accessories. Balinese artisans are very skilled people and make products of the highest quality.
It is excellent to talk about artisans, not only about making clothes and fashion, but also about their crafts and art. Paintings, small sculptures and charming decorations that can liven up a room.
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Areas of Bali such as Kerobokan and Ubud are full of skilled wood craftsmen. Do you have an idea what can be sold in wooden or even woven rattan bags? It’s made into a pillow, he says you can get marks in it.
With nearly $2 billion worth of furniture exported each year, you can be a part of it. It literally keeps growing every year. I am not sure about 2020, how it will go because of the corona pandemic.
You need to find furniture manufacturers and decide how to start: small, big, huge! It takes a great network to do this because you learn how to ship in large quantities and who makes better furniture (consistently).
You can start any type of accommodation: hotel, resort or even a villa. I will not do a hostel or hotel where everyone is close to each other because of the coronavirus. It’s hard with the pandemic, but as I mentioned earlier, houses are being sold (cheap!).
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You can also rent a long-term villa for re-rental for those who want a lush and luxurious feel in their villa. However, remember that when you use platforms for rent, they will take a commission (this is normal), so adjust the price accordingly.
Everyone has to eat and sometimes eating out is common in Bali. So opening a restaurant is an idea. But you have to do your research first. Don’t open a restaurant in the middle of nowhere, make sure there are potential customers.
No, don’t copy your neighbour, be unique in terms of food, service and decorations. Decor is very important and can make you stand out from others.
As many restaurants in Bali are closing, some of them may be for sale! Check out the links to buy / rent property, your dream restaurant business may be for sale right now.
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Before we get into it, your travel company doesn’t have to be like any other right now. You have to lose it and you can do it. You should know the difference between a licensed guide and a driver in Bali.
To make yourself unique, add extra service and protection against Corona. Offer tours in your customer’s native language. Customize their entire holiday from A-Z to give them a unique Bali experience.
As well as making tours, you can create your own diving, hiking or any local activity company. Some even did Bali Swings for tourists.
Whatever you do, make sure you check with Banjar if possible. They want to know what your plan is and how it will affect their village. Other business examples in this area could include: air bike, Bali skydiving, bike tour.
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It’s not really a company, but some invest in property to sell again later. But as a foreigner, you should check your options as owning a property may not be possible. There are several solutions, such as renting property and land in the long term. This is a potential opportunity, but it will require a lot of patience.
As an affiliate or someone who connects buyers and sellers, you can earn a commission. Sometimes 1 fee can be thousands of USD! Consider contacting someone who wants to buy/rent land, villa, hotel. You find him a client, your commission can be up to 1.5% or more!
Finding a product/service and a customer for it is hard work. And as a connector, you need to have as much information ready as possible for a potential client. If you don’t have the answers to the questions, the client might ask why do I need you? So provide good service in this area to close the deal.
Bali pays more attention to tourism. But the digital infrastructure is lacking. I’m not saying hosting there or doing a data center, actually it’s a terrible idea (electricity and power costs). I say to provide services to companies that need digital services, such as our website, application or even a web store.
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From Bali itself, most IT people will travel to bigger cities for better IT job opportunities. This creates a gap in the market. There are many digital nomads out there, but it’s easy to tell the difference between them.
An unusual addition to the list is an animal doctor: a veterinarian. Yes, it is very much needed. Many stray dogs, cats and animals require medical attention.
I’m not sure if a foreigner is allowed to practice this, but it’s worth watching. Pets are often underestimated and need help from time to time too. If you think this is your calling, you should definitely look into this type of business opportunity.
Inspired yet? Before you jump into any kind of business, let me remind you of the requirements of the legal document! As a foreigner, you need the right documents to start working (even voluntarily).
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Ideas for starting a business are only limited by our own imagination. So what creativity do you want to bring?
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