Moving and opening a small business in Sri Lanka

Hi TonyDexplorer,

Welcome to the forum.

You may get in touch with the Board of Investment here : http://www.investsrilanka.com/  they will be able to guide you.

All the best,
Bhavna

Thank you so much! I already in touch with them.

If you are staring a small business in Srilanka. I can help you to get leagle advice. Then you will understsnd how to start up.

Dear Tony.

Stating a business is little tricky but possible. Here are some start up business ideas

Online Marketing: As small business ideas in Sri Lanka you might start online marketing business as following ideas. Do you have limited cash to start a small business in Sri Lanka! You may learn online marketing and become expert and build team. Small office or from home business might be start. How to get the contract job? You can contact some product selling companies and service provider companies to make contract of online marketing.

Export/ Import: As small business ideas in Sri Lanka you might start Export/ import business as following ideas. Export and/or import business started from what time is unknown! If some goods are produced a lot and become surplus end of year can think to be exported to other place or country where is demand of that goods. Let, garment is a good business in Sri Lanka. So, you can export garment goods to European countries.

Cloth selling by online: Its new business policy applied by youngster. Most of the people, now a day, who is between 15 to 45 years old use internet and obviously Facebook. So, send message, promotion your goods or services are easier by internet. As such, you can sell cloths (T-Shirt, Women dress, Kids cloth etc) by online. Even, you can start such business from home. As small business ideas in Sri Lanka you might start Cloth selling by online business as following ideas.

Homemade food: No body imagined before than homemade food can be sold commercially. You can sell Cake, Pitha, Dry Sweet, Chips, Samucha, Chatni, Bread, Biscuit, Potato Fry (French fry) and many more goods making at home and sell them in market. Small investment and more profit. Target a market and appoint some young sales person to sell them. As small business ideas in Sri Lanka you might start Homemade Food business as following ideas

Event Management: A group of people or friends can start event management business. Before starting this business know the process and learn from professional event management program or work in event Management Company for an experience. Many people work as part time to complete the program within time frame. Advertisement is the key to spread out your business information to other people. Firstly start event management program within your relatives, friends, well wishers, neighbors as experience.  So, as small business ideas in Sri Lanka you might start Event Management business as following ideas.

Used goods selling: It is another good small business in Sri Lanka. You may sell used goods like mobile, electric products, motorcycle etc and display products online or, at your shops. You can start your goods marketing by online or local daily news paper advertisement. Therefore small business ideas in Sri Lanka you might start Used Goods selling business as following ideas.

Mobile coffee shop: Set up a coffee shop in population density area or business area or near sea beach. As it is movable and stand any place when needs. So, mobile coffee shop is another small business in Sri Lanka. So, as small business ideas in Sri Lanka you might start Mobile Coffee Shop business as following ideas.

Food court: Food business is profitable in any country. Start food business location selection is first job after then decoration, staffs, types of food and etc. As small business ideas in Sri Lanka you might start Food Court business as well

Tourism: As small business ideas in Sri Lanka you might start Tourism business as following ideas. Sri Lanka is a tourist country. Many foreign tourists and local like to visit tourist spots including sea beach area. You may offer a package of tour in particular spots. Find information where foreign tourists like to visit most and make a package considering serving them. You may open website and publish offer and start SEO for online promotion because as a foreign tourist before arrival into Sri Lanka they search in Google to get information about tourist place and find if any lucrative package is available and good guide can be given to them.

Gardening: Plantation and gardening are good business now a day. It can be started at your own useless land.


I own a Travel Agency and I can help you with Tourism and Event Management if we partner each other.

In order to get in to Sri Lanka as business or investor the best source you have is BOI (Board of Investment) http://www.investsrilanka.com/

Your basis investment will be USD 50,000 to to entitle good benefits granted by the BOI, they are

1. You get residence visa
2. You can bring down your private vehicle with no taxes
3. You can purchase a privately owned land on outright purchase or lease basis.
4. Build your home if need.

These are three critical issues many business people will experienced.

Or else you if the BOI investment is too high for you, following option is available with least investment.

1. Find a trustworthy local partner
2. Register the company as Private Liability Company
3. Local partners share will be 55% and the foreign partner will own 45% (But later on through the power of attorney the foreign partner can claim the controlling interest of the company)
4. Open a bank account
5. Office set up
6. Staff requiting.

Trust these information will help you, if you need more we can continue the discussion.

Cheers

Nishan Atulugamage