The e-commerce industry is one of the fastest growing industries in Uganda and has been trending since its mainstream entry around 2010.
Within just a short period of time, there has been an e-commerce explosion where hundreds of e-commerce businesses have sprung up and the industry has kept growing at an unprecedented speed.
If you are seeking to invest into Uganda’s e-commerce industry and become a major player, here are 5 small e-commerce business ideas you can start in Uganda.
1. Start an online shop
Since the aggressive entry of Kilimall and Jumia in the Ugandan online shopping space, many Ugandan entrepreneurs have realized the potential that running an online shop holds.
While Jumia and Kilimall are yet to start making real profits, they have created ecommerce platforms that online sellers could leverage to earn a modest income depending on what one wants to sell.
You could too start your e-commerce journey by creating an individual online store on your own website where you are a sole seller. You could also create a marketplace store on leading ecommerce platforms like Jumia e.g https://www.jumia.ug/your-store-name. Remember Jumia is not a sole seller of the products listed on its platform. Jumia simply connects buyers and sellers.
It is advisable that before you start your own individual store, start working from an online marketplace as this would help you grow your inventory while you figure out what works best and what doesn’t.
You can sell anything in an online shop ranging from fashion accessories, home appliances, electronics, beauty products etc But usually niche specific online shops tend work better than generalized shops.
Top reputable online shops in Uganda
2. E-Commerce Consulting
If you have expertise in running online businesses or previously worked in an e-commerce company with direct influence, you could startup an e-commerce consulting firm where you provide exclusive e-commerce advice and services to individuals, small businesses and corporate brands.
E-commerce consulting requires one to be an expert in e-commerce and internet based businesses in general, one that is driven by experience working in a similar field.
Before thinking of starting an e-commerce consulting firm, ensure that you have great experience and verifiable track record in running or creating successful ecommerce businesses.
3. Classified Sites
Classified websites in Uganda like OLX Uganda are modeled on America’s Craiglist. They provide a convenient environment for people to buy or sell anything through their platforms. User can view items on sale, and can directly contact a seller whom they can meet and pay cash for the item.
If you want to sell anything such as old items you no longer need, you can simply take its photo, upload it on the classified platform, set your price and include your contacts. People interested in your item would directly call you, meet up and exchange cash with the item.
The success of classifieds sites in Uganda e.g OLX, has inspired many Ugandans who have deep pockets to startup their own versions of such sites.
In this digital economy, starting a classified website today is a great idea since almost everyone is looking for possible ways to quickly sell off their unwanted items or buy used items at cheaper price. These platforms not only list used items but new ones as well.
If you have startup funds, a great team and a target niche, why not startup your classified website today and enjoy the benefits of working online?
Top 5 classified websites in Uganda
4. Online journalism
This is simply an idea where you can start a website where you provide news content to your readers. News websites in Uganda are doing great and many of them attract thousands of traffic daily.
If you can find creative ways to monetize this traffic, you can earn hundreds or even thousands dollars per month.
However for one to run a successful online journalism business, they should be in position to hire a great team of writers that would create original and appealing content.
Below are some of the websites ideas that work bests in Uganda
- Niche specific blogs
- Gossip websites
- Entertainment websites
- Local news websites
- Political news websites
- Technology news websites
- Fashion websites
- The Cost Of Designing, Developing And Hosting A Website In Uganda
- How To Monetize A Blog (Website) In Uganda [In-depth Guide]
- How To Become A Tech Blogger In Uganda
5. Forex Trading
Forex trading can be simply understood as an online market for trading currencies. It is involves aspects of selling, buying and exchange of current at current on determined prices.
Forex trading is usually done by traders who are constantly on the forex market, through a forex platform or application. They ascertain the direction the price of a given currency will take and place a trade to buy or sell that currency.
Forex trading requires special education and technical understanding of financial markets and trends. One needs to have clear understanding of trading techniques that would enable them to constantly monitor the exchange rate of different currencies.
To get started, go find a mentor to take you through how to trade forex. If you find problems understanding trading techniques, you could either use an automated trading software of hire a trading company or individual to trade on your behalf and share profits.
What are your thoughts on these 5 e-commerce business ideas and opportunities that work in Uganda? Let me know in the comments below.