Venezuela is a country facing severe economic crisis. Specifically, let’s focuses on what business opportunities the people of Venezuela have to get out of this severe economic crisis or at least hunger.
Venezuela was one of the strongest economies in the Latin America Region. Now the Consumer prices in Venezuela increased 180.9 percent year-on-year in December of 2015, reaching an all-time high. The country faces a major shortage of basic goods like food, power and medication. Even the countries most loved President Hugo Chavez, who governed Venezuela from 1999 to 2013, introduced price controls on some basic goods to fight inflation. It is a major Oil exporting nation, which constitutes to almost 95% of it exports. With virtually no other natural resources except oil it is now facing depression. Economic Mismanagement and political instability has redefined the countries prospects and is said to even get worse.
People even claim they have to earn for about 1 year and 2 months to feed their family for a single month. The government is providing a few essential foods with a subsidy. The queue for these products stretch for miles. Even the people of middle class rely solely on these subsidized food to feed their family. At Trdinoo, we believe some of these following business opportunities will help the people of Venezuela get out of this severe economic crisis or at least hunger.
1) Export Services
Venezuela does not have many opportunities to export products other than oil or related. The country can turn towards export of service with its human capital which has a good literacy rate of about 95% of its total population.
The people proficient with computers can export their talents for programming and design works needed elsewhere. Around 700,000 young musicians graduating through the El Sistema should take advantage of the Internet to make money from the songs and music they create. The country also has many other professionals like accountants, translators and more whom can find service opportunities out of their country.
2) Agriculture and Fishing
Returning back before the age of oil, most Venezuelans worked in farms. The country largely exported coffee and coco beans. Food is currently being imported from the neighboring nations like Colombia. With modern farming practice, the country can get back on its feet with new export opportunities.
People using traditional medicines and plants for common health issues are showing other fellow citizens a sustainable lifestyle that they can follow by returning to their roots. Though the security of the farm and farm animals itself under threat. In reality they can at least be used to feed their own families instead of importing. The fishing also can be a huge benefit for the country in covering the shortage of food.
3) Raising Farm Animals for Profit
Even though Venezuela imports most of the livestock’s, the country can sustain ably raise farm animals for profit. For example, choosing to raise rabbits could be an easier task considering their breeding rate and nutritional value it offers. In Uganda, a similar Rabbit project helped in solving the problem of malnutrition among the kids.
The milk and meat from the animals can be used for personal consumption and as well as sold for profit. At the same time, the waste of these animals can also be used as manures to make the land fertile organically for the purpose of agriculture.
4) Tourism in Venezuela
Venezuela is a country full of diverse natural attractions from adventure fishing to tropical resort islands. The tourists can bring in its much needed opportunities for the people of Venezuela through their high purchasing power. Their arrival could provide many people with sustainable higher income to what they currently generate. The travel industry can clearly provide good business opportunities for the people of Venezuela.
5) Finding Employment out of Venezuela
Most Venezuelan families that survive today are on the money from some of their family members outside the Venezuela. Many immigrants living in other countries are supporting their relatives now, Even though the brain drain is attributed to one of the many reasons for the cause of today’s problem. The illegal migrants end up with no money to send back and suffer away from the family as well. So, some working family members legally migrating to other countries with better job prospects and better pay could help easing some trouble as a last resort.
With its rich culture and knowledge, Venezuela has a long and strong role to play in this world. Hope these business opportunities help the people of Venezuela. Finally, wishing the nation that it soon turns back into prosperity and happiness.
