Profitable Businesses in Peru | 10 Entrepreneurship Opportunities
Peru ranks as the sixth largest economy in Latin America in terms of GDP. In turn, it is the eighth country in the world with the highest entrepreneurial intention according to the Global Entrepreneurship Monitor ranking. Well, it has 40% of the population willing to start a business in the next 3 years. What makes Peru a prosperous land with increasingly better opportunities to start and start your own business. For these reasons, in this article we decided to talk about 10 profitable business ideas in Peru.
In addition, we will teach you the requirements to open a business in this country, as well as the most profitable sectors to invest in.
Requirements to open a business in Peru
If you want to be part of the hundreds of entrepreneurs with profitable businesses in Peru, you must take into account the legal procedures to follow. These vary depending on whether you register as a natural or legal person .
Keep in mind that a natural person is one who assumes all the obligations in his name and the responsibilities extend to all his personal assets. While a legal person refers to a company that may be of the individual type, corporation or limited liability company.
Next, we will see the corresponding procedures:
1. Verify the company name in SUNARP
Here it is verified that the company name chosen for the company is available. This is done in the legal persons index of the National Superintendence of Public Registries (SUNARP) through its official website. If the name is available, you can reserve it online or at one of its offices.
2. Make a minute
The company or company charter is a document that must be carried out by legal entities. There the will of the owner and / or members of the company to create the company is manifested. This is a private document, prepared and approved by an attorney.
3. Public deed
Once the minutes are ready, they must be presented before a notary public. This will be in charge of reviewing it and raising it to public deed. This document must be signed by the owner and partners of the company and then be entered in the public records before SUNARP.
4. Enrollment in the RUC
The Single Taxpayer Registry (RUC) is the number that identifies natural and legal persons as taxpayers and/or responsible for taxes. She is in charge of the National Superintendence of Tax Administration (SUNAT). Where you must register by filling out a form available on its website. The RUC contains identification data, economic activities and fiscal domain.
5. Choose the tax regime
When you are carrying out the RUC procedure, you must choose the tax regime of your company. This can be of 4 types:
- New Simplified Single Regime (NRUS).
- MYPE Tax Regime (RMT).
- General Regime (RG).
- Special Income Tax Regime (RER).
To select the one for your business you must take into account the level of income, the value of the assets, among other factors.
6. Operating license
It is a requirement for all profitable businesses in Peru to apply for the operating license. Which is granted by the district or provincial municipalities corresponding to the location of the company.
This is a document that allows economic activities to be carried out under a legal framework. In addition, it checks the formality of the establishment and guarantees compliance with the rules. The requirements to obtain the operating license depend on each municipality.
7. Special permits
Special permits must be applied for by businesses that market food, alcoholic beverages, and chemicals. This procedure is carried out in the ministry corresponding to the company’s activity and can be consulted at SUNAT.
8. Authorization of returns
If you are considering hiring personnel within your business options in Peru, you must request the authorization of payrolls at the Ministry of Labor. These forms collect information regarding all the workers of the company, their remuneration and benefits granted.
9. Registration of workers in EsSalud
After the authorization of the returns, you must register all workers with the Social Health Insurance (EsSalud). This in order that they can access the services and benefits provided by the entity.
10. Buy and legalize the accounting books
The purchase of accounting books is made based on the type of company incorporated. Their legalization must be carried out before a notary and they must comply with Law No. 26501, article 112.
What businesses are profitable in Peru?
We can speak of profitable businesses in Peru thanks to the favorable characteristics of the territory. Its geographical location, natural resources, cultural attractiveness and competitive technological level are some of them. They also make it an optimal business ecosystem for entrepreneurship.
There, the entrepreneurs have strong support from the Association of Entrepreneurs of Peru (ASEP). This candle because all people can make their dreams of starting a business come true. And it is just these characteristics that stand out in various markets. Therefore, we will show you some of the most profitable sectors to invest in a business in Peru.
Tourism and hospitality
Peru is recognized worldwide for its tourist destinations, among which the city of Lima, Machu Pichu and Vinicunca stand out to name just a few. This is reflected in the fact that tourism constitutes the third largest industry in the country and the fastest growing. It stands out for its activity in archaeological tourism, ecotourism, gastronomic tourism and cultural tourism.
According to data from the National Chamber of Tourism, investment projects in this sector total nearly USD 600 million by 2021. This represents great opportunities for hotels, hostels, restaurants, convention centers , among others. This makes tourism one of the sectors with the greatest possibilities for creating profitable businesses in Peru.
Young people represent a large part of the Peruvian population. To which is added the growing need for learning and training, so this sector has a wide field of action to start and achieve profitable businesses in Peru. So if you have specialized knowledge in a specific area you can earn money from it. Whether starting a home-based business, an online study group or linking to an educational platform.
The beauty and aesthetics sector grows by an annual average of 15% in the country. This is thanks to the increased demand for services related to personal care and well-being. What turns spas and beauty centers into profitable business ideas in Peru with great boom and reception by different segments of the population.
Peruvian cuisine is one of the best valued internationally. This thanks to the variety of typical dishes and indigenous recipes of the region. So much so that in 2019 restaurant activity grew 5.86% compared to the previous year. So it is estimated that the growth in the gastronomic field will be maintained, due to the high demand for regional dishes and traditional Peruvian food.
So if you are thinking of investing in the gastronomic sector, you will surely be part of the hundreds of profitable businesses in Peru specialized in this market.
Veterinary and pets
Pets have become invaluable members of families worldwide. The care and respect for animals is increasingly present in society. And Peru has not been the exception, as the boom in veterinary centers and services for pets is increasing.
Such is the case, that Peruvians spend an average of 300 soles per month on the care of their pets. Therefore, thinking about a venture related to this area can result in a profitable business with high demand.
Peru’s technological competitiveness is getting stronger. Thanks to the fact that today more Peruvians have access to information technology and an internet connection. This has resulted in a considerable reduction of the digital divide and has contributed to the improvement of the economy. And this is why many entrepreneurs and entrepreneurs are aiming to offer products and / or services based on technology or related to its use.
The 10 most profitable businesses in Peru
Now that you know some of the most profitable sectors to invest in, it’s time to share a list of profitable businesses in Peru. Next, we will see 10 business ideas with which you can start your entrepreneurship:
1. Beauty centers
As we mentioned it well, the aesthetic and beauty sector is constantly growing. So many of the profitable businesses in Peru are related to this industry. Men and women from different segments of the population are increasingly concerned with the care of their bodies and their well-being.
This means that they are willing to invest in it and attend a spa or beauty center in order to acquire massage services, waxing, manicures, skin treatments, among others. The foregoing ensures entrepreneurs a significant return on their investment in the medium term.
2. Peruvian food restaurant
Many tourists and visitors arrive in Peru motivated by Peruvian cuisine and its gastronomic tradition . Well, about 82% of tourists identify the country as a gastronomic destination . That is why setting up a traditional food restaurant is one of the most profitable businesses in Peru to invest.
It has great potential in cities like Lima and Cusco that are among the most visited for their gastronomic offer. Remember that the investment in this business will depend on the way you decide to start. If your budget is low you can do it by offering delivery service or through a food truck. So you can climb and then set up a local in a busy central area.
3. Online academic advisor
If you have certified knowledge in one or more areas and have a vocation for teaching, this could be your opportunity to undertake. Becoming an online academic advisor for university students.
You can offer your advisory and support services through digital channels such as social networks, blogs or your own website. Also, teach virtual classes through tools such as Zoom, Google Meet or Skype.
This is a market with a current demand, since there will always be students willing to pay for good advice for their academic work.
4. Hairdressing at home
As part of the profitable businesses in Peru belonging to the aesthetic and beauty sector we find hairdressers at home. Focused on providing clients with the ease of looking good and acquiring all the services of a hairdresser in the comfort of their home.
The success of this business is due to the fact that it meets the demand of people who have very little time to go to the beauty salon, providing them with services for haircuts, makeup, hairstyles, manicures, pedicures, etc., all at home. . An innovative business model in which you only need the knowledge, the teams and the desire to undertake.
5. Dog walker
Many Peruvian households have a dog as a pet, but many of them do not have enough time to walk their canines. That is why this becomes a profitable business idea for dog lovers. You can start looking for your own clients and setting up your own network of walkers. Or you can also link to platforms like Paseaperros.pe. Where you register, you create a profile and you are ready to attend services of walker or dog sitter.
6. Tours or tourist guide
If what you want is to be part of the profitable businesses in Lima, tourism is the answer. It is well known that Peru has incredible tourist potential and that is why it has positioned itself as one of the preferred destinations in Latin America. So the opportunities to undertake in this sector are very wide. This, not only in Lima but also in other cities and towns of the Peruvian territory.
Among these business opportunities are tours or tourist guide. Activity that you can exercise in your region offering tours in the main attractions of the place. If you have the training and knowledge you can be the one to give the guidance yourself. Otherwise, you can hire trained third parties to do it.
Remember that tourism is a sector of accelerated growth and a global trend. In addition to being highly promoted by the country’s government. What makes starting a tour and guide company one of the most profitable businesses in Peru.
7. App development
Developing apps is not only one of the profitable businesses in Peru related to technology, it is also one of the online businesses with the greatest projection thanks to the revolution of mobile devices. To start an app development business you must focus on one or more niche markets, in which you can respond to the needs of the target audience by offering a quality mobile experience.
In this type of venture the investment costs are not very high, since you can be the developer if you have the knowledge, or you can partner with specialized programmers in the subject.
8. Sale of pet accessories
Houses, leashes, beds, chargers, collars, clothes and toys are some of the items that most people buy for their pets. That is why a pet accessories company is one of the profitable businesses in Peru ideal to meet this demand. Here you can choose to set up a place to show and sell your products. Or also make the sale through an online store, thus saving maintenance costs and keeping the product catalog open all the time for potential customers.
9. Home computer or laptop maintenance
A home repair and maintenance service for computers and laptops is a business with a high probability of success. It allows people to have their equipment in perfect operation without leaving the comfort of their homes. So if you have technical knowledge in this area you can take advantage of them and set up your home computer maintenance company. In addition, you can promote it in different digital media through online marketing strategies.
10. Rent of tourist apartments
Thanks to its tourist attraction, the demand for accommodation in Peru exceeds any projection. Well, in high seasons it is common to see the occupations of hotels, inns, cabins and hostels fully booked. So, without a doubt, the rental of tourist apartments turns out to be an attractive investment opportunity.
When it comes to profitable business in Peru, this can be considered one of the favorites of entrepreneurs. So if you have the financial muscle to start this venture, go ahead!
We have finished with our list of profitable businesses in Peru. Now that you have knowledge of the legal requirements necessary to undertake and the fastest growing sectors in the country, you are ready to start searching for your ideal business.
Do not forget that before starting any business it is important that you identify market trends and study the competition. Also, you must make a thorough planning of the economic, human and technological resources necessary to manage it.
Tell us in the comments your business idea to invest in Peru.