- The Entrepreneurs law in 2017 (Ley de Emprendedores) simplifies and reduces the process of starting a business from 1 year, to 1 day
- Tourism has grown from 3 million visitors, spending on average US$770, in 2003, to 6.94 million visitors, spending on average US$864, by 2018
- 75% of the companies surveyed implemented inbound marketing in their digital strategy, resulting in 65% more effective marketing campaigns
- The country has a vibrant art scene. Buenos Aires alone has 400 theatres, an Arts District, Villa Crespo, and the oldest art fair in Latin America
Argentina’s economy might be unstable compared to its neighbour Brazil or other developed countries. Still, it is home to many successful business startups. The government also passed The Entrepreneurs law in 2017 (Ley de Emprendedores) that simplifies and reduces the process of starting a business from 1 year, to 1 day, by granting tax benefits to investors, incentivising accelerators, and introducing finance options for potential entrepreneurs. This law reduces the bureaucratic burden entrepreneurs feel when starting up and makes the country an even better environment for businesses.
There are many business opportunities in Argentina. Here are the top tried and tested successful business ideas to start in Argentina for 2021.
Argentina has many things to offer in culture, food, and adventure from its amazing cities like Buenos Aires, its natural landscape showing Igazcu falls, and Patagonia. Many tourists from inside and outside Latin America travel to the country to see such sites.
According to World Data, tourism has grown from 3 million visitors, spending on average US$770, accounting for 1.8% of GDP or US$2.31 billion in 2003, to 6.94 million visitors, spending on average US$864, accounting for 1.2% of GDP or US$6 billion by 2018. Providing city, countryside, vineyards, or landscape tours that meet customer requirements will always generate money. So too will information and facilities like accommodation for tourists.
Developing Mobile and Computer Apps
Argentina has some of the highest internet penetration rates in South America, with 74% of the population using the Internet. It also has a very high young population of 15 to 24-year-olds, with good access to technology including phones and computers. Because of this, technology is booming. So is the demand for apps that meet customer requirements. Argentine pioneers have even founded companies like MercadoLibre, the eBay of Latin America, and OfficeNet, acquired by Staples.
Apps that provide specialised services have flourished in Argentina. Recent mobile apps include Bambox, which specialises in delivering baby products to new parents, and Blended, in helping parents navigate through their children’s progress. If you have a similar idea for an app that provides specialised services, you can set up a successful business in Argentina.
Digital or Virtual Outsourcing Provider
As the home of Latin America’s four unicorns, Mercado Libre, OLX, Despegar, and Globant, Argentina is already South Americas biggest tech hub. According to LAVCA, US$110 million was invested across 27 Argentinian startups in 2018. The startup ecosystem has not stopped growing and diversifying.
More European and North American companies now choose Argentina as the number one location to outsource their IT and digital work. This is because of its IT ecosystem, highly educated and low-cost workforce, transparent IT processes, and Euro-centric culture. Argentina offers free schools and university degrees that can last for 4 to 10 years. Most IT companies also generally provide a fully transparent IT software development process.
Companies can make a lot of money offering outsourcing services such as digital assistants, software developers, programmers, IT business analyst and project managers, content producers, or UX and UI designers. Setting up in the market now will mean you can establish your business, in case South America ever surpasses Asia as the world’s leading region for IT outsourcing.
According to HubSpot’s 2017 Argentinian Marketing report, 75% of the companies surveyed implemented inbound marketing in their digital strategy, resulting in 65% more effective marketing campaigns than traditional marketing. This shows how essential digital marketing is becoming for more firms in Argentina.
If you know SEO, SEM, Google Analytics, etc. and can create an effective marketing strategy, setting up a digital marketing company will be profitable. Demand is reaching an all-time high, especially as the pandemic has forced more companies to only operate online. Now more than ever, companies need great digital marketing to reach customers and continue making sales.
If you have good experience working as a consultant or within one particular role and industry, you could start an independent consultancy. You can work for your own company paying yourself in dividends, and expand by hiring other working professionals as consultants.
The pandemic, IT growth, and tourism mean that the business environment is changing significantly in Argentina. Existing companies will have change projects and programmes to deal with these changes and make the business more efficient. They want good consultants to do this. To generate greater revenues, focus your consultancy on thriving South American Industries, or Argentina’s growing IT, marketing, and tourism which are experiencing more changes.
Creative Industries: Sell Art, Create Plays, Open a Gallery
If you are creative, draw, write, act or produce screenplays, then Argentina could be the perfect place to set up a business. The country has a vibrant art scene. Buenos Aires alone has 400 theatres, an Arts District, Villa Crespo, and the oldest art fair in Latin America. Many museums, theatres and NGOs are committed to having quality works. Alongside the government, they provide artists and businesses grants to create works, like the Beca Oxenford initiative, which offers 14 grants per year for new, up-and-coming artists.